Finding the best hard money lenders in Merritt Island FL is crucial to your real estate investing success. Whether you’re new to real estate investing or you’ve been doing it years, your Merritt Island hard money loans can end up costing you thousands of dollars if you don’t select your hard money lender carefully. Whether you’re looking for a fix and flip loan or a longer term rental loan for the BRRRR Method, a bad hard money loan can cost you thousands of dollars in profit if you don’t account for things like origination fees, monthly interest, prepayment penalties and more. On the flip side, a favorable hard money loan can provide the financing you need to make a deal possible and successful. Merritt Island private money lenders can give you the financing you need to secure your deal.
Top 5 Best Hard Money Lenders in Merritt Island FL
Birchwood Loans
Birchwood Hard money offers Hard money loans for Real Estate Investors in Tampa and surrounding areas. With Birchwood, you will find a fast and easy source of hard money lender funding for your real estate investments. They can finance up to 60% LTV for a period of up to 5 years and provide interest only payments. They can give you an approval within 24 hrs. The paperwork for the closing is typically 3-5 business days.
AHL Hard Money
AHL Hard Money offers the following niche programs: Hard money loans, private money loans, cash out refinance, bad credit loans, home equity loans. According to their website, they specialize in special needs. Whether that be for credit challenged borrowers, the self employed, or other unique circumstances.
Bridgewell Capital
Bridgewell Capital is a hard money lender based in Orlando. They offer rehab loans for flips and for rental properties. They also do multifamily loans and commercial loans.
Here are some of their fix and flip loan terms:
- Up to 100% of rehab costs
- Up to 75% ARV
- Closings in 10 days
- Damaged Credit Okay
- No interest on undrawn rehab funds
- No pre-payment penalty
Civic Financial Services
Our next hard money lender is CIVIC Financial Services. CIVIC is a best-in-class real estate lender that provides fast and simple financing to real estate investors. Whether the intention is to buy a single-family home to flip, to leverage an existing portfolio of rental homes to hold long term, or to acquire multifamily real estate for cash flow, they have a focused team and set of products that empower investors to build wealth through real estate.
A2Z Capital Lending
A2Z Capital Lending is a Florida based hard money lender. They have excellent reviews on Google and a professional website. They’ve been operating in Florida in many years so you can use them confidently.
Unlike traditional bank loans, the ability to obtain hard money financing isn’t determined by the borrower’s credit worthiness. Instead, A2Z Capital Lending uses the value of the property itself in determining whether to make the loan.
FAQ about the Best Hard Money Loans in Merritt Island
What Do Merritt Island Hard Money Lenders Charge?
Hard money loan rates in Merritt Island range from 8-12% for most fix and flip and shorter term loans. Many hard money lenders in Merritt Island also charge points or origination fees on a loan that range from 1-2.
Do Hard Money Lenders In Merritt Island Require Appraisals?
With most hard money lenders in Merritt Island, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What Are Hard Money Loans In Merritt Island?
Hard money loans in Merritt Island are loans secured by real estate used to purchase or rehab that piece of property. These short term loans are used to purchase and/or rehab residential or commercial properties. They’re usually more expensive than traditional loans but can be closed faster and oftentimes with less credit requirements.
More About Merritt Island Florida
Merritt Island is a beautiful and serene destination located in Brevard County, Florida. It is a perfect place for nature lovers, adventure seekers, and those who want to escape the hustle and bustle of city life. Here is a detailed review of Merritt Island, including the best things to do, places to see, food to eat, and more.
Things to Do:
1. Visit the Merritt Island National Wildlife Refuge: This is a must-visit destination for nature lovers. The refuge is home to a variety of wildlife, including alligators, manatees, and over 500 species of birds. Visitors can enjoy hiking, fishing, and wildlife watching.
2. Go on a Kayaking Tour: Merritt Island has several waterways that are perfect for kayaking. Visitors can rent a kayak and explore the Banana River, Indian River Lagoon, or the Thousand Islands.
3. Watch a Rocket Launch: Merritt Island is located near the Kennedy Space Center, which is the launch site for NASA’s rockets. Visitors can watch a rocket launch from the comfort of their car or from the beach.
4. Visit the Brevard Zoo: The Brevard Zoo is a great place to visit with family and friends. It is home to over 900 animals, including giraffes, rhinos, and kangaroos. Visitors can also enjoy zip-lining and kayaking at the zoo.
5. Go Fishing: Merritt Island has several fishing spots, including the Mosquito Lagoon and the Indian River Lagoon. Visitors can catch a variety of fish, including redfish, trout, and snook.
Places to See:
1. Cocoa Beach: Cocoa Beach is a popular destination for tourists. It is known for its beautiful beaches, surfing, and nightlife.
2. Kennedy Space Center: The Kennedy Space Center is a must-visit destination for space enthusiasts. Visitors can learn about the history of space exploration and watch a rocket launch.
3. Canaveral National Seashore: The Canaveral National Seashore is a beautiful destination for nature lovers. It is home to several endangered species, including sea turtles and manatees.
4. Historic Cocoa Village: Historic Cocoa Village is a charming destination with several shops, restaurants, and galleries. Visitors can enjoy live music and events throughout the year.
5. Merritt Island Mall: The Merritt Island Mall is a great place to shop and dine. It has several stores, including Macy’s, Dillard’s, and JCPenney.
Food to Eat:
1. Dixie Crossroads: Dixie Crossroads is a popular seafood restaurant in Merritt Island. It is known for its rock shrimp, which is a local delicacy.
2. Yellow Dog Cafe: The Yellow Dog Cafe is a fine dining restaurant that serves American cuisine. It has a beautiful view of the Indian River Lagoon.
3. Thai Thai Village: Thai Thai Village is a great place to enjoy authentic Thai cuisine. It has several vegetarian and vegan options.
4. The Fat Snook: The Fat Snook is a seafood restaurant that serves fresh and locally sourced seafood. It has a great atmosphere and friendly staff.
5. Bagel 13: Bagel 13 is a great place to grab breakfast or lunch. It serves fresh bagels, sandwiches, and salads.
Overall, Merritt Island is a great destination for those who want to enjoy nature, adventure, and relaxation. It has several attractions, including the Merritt Island National Wildlife Refuge, the Brevard Zoo, and the Kennedy Space Center. Visitors can also enjoy delicious food at several restaurants, including Dixie Crossroads and Yellow Dog Cafe.