Finding the best hard money lenders in North Miami 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 North Miami 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. North Miami private money lenders can give you the financing you need to secure your deal.
Top 5 Best Hard Money Lenders in North Miami 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 North Miami
What Do North Miami Hard Money Lenders Charge?
Hard money loan rates in North Miami range from 8-12% for most fix and flip and shorter term loans. Many hard money lenders in North Miami also charge points or origination fees on a loan that range from 1-2.
Do Hard Money Lenders In North Miami Require Appraisals?
With most hard money lenders in North Miami, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What Are Hard Money Loans In North Miami?
Hard money loans in North Miami 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 North Miami Florida
North Miami is a vibrant city located in Miami-Dade County, Florida. It is known for its beautiful beaches, cultural diversity, and exciting nightlife. Here are some of the best things to do, places to see, and food to eat in North Miami:
Things to Do:
1. Visit the Museum of Contemporary Art (MOCA): This museum features contemporary art exhibitions, educational programs, and events. It is a great place to explore the art scene in North Miami.
2. Go to Oleta River State Park: This park is the largest urban park in Florida and offers a variety of outdoor activities such as kayaking, hiking, and biking. It is a great place to spend a day with family and friends.
3. Relax at Haulover Beach Park: This beach park is known for its beautiful white sand beaches, clear blue waters, and stunning views. It is a great place to relax, swim, and sunbathe.
4. Explore the Ancient Spanish Monastery: This monastery was built in the 12th century in Spain and was later transported to North Miami. It is a beautiful and historic site that is worth visiting.
Places to See:
1. The Dezer Collection: This museum features a collection of classic cars, Hollywood memorabilia, and other unique exhibits. It is a great place to see some of the most iconic cars and movie props in history.
2. The Miami Auto Museum: This museum features a collection of over 1,000 cars, including classic cars, race cars, and exotic cars. It is a great place to see some of the most beautiful and rare cars in the world.
3. The Ancient Spanish Monastery: As mentioned earlier, this monastery is a beautiful and historic site that is worth visiting.
Food to Eat:
1. Captain Jim’s Seafood: This restaurant is known for its fresh seafood and delicious dishes. It is a great place to try some of the best seafood in North Miami.
2. The Fish House: This restaurant is known for its fresh seafood, sushi, and other delicious dishes. It is a great place to try some of the best seafood in North Miami.
3. The Grill at Bal Harbour: This restaurant is known for its delicious steaks, seafood, and other dishes. It is a great place to enjoy a fine dining experience in North Miami.
Overall, North Miami is a great place to visit for its beautiful beaches, cultural diversity, and exciting nightlife. Whether you are interested in art, history, or outdoor activities, there is something for everyone in North Miami.