Finding the best hard money lenders in Ormond Beach 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 Ormond Beach 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. Ormond Beach private money lenders can give you the financing you need to secure your deal.
Top 5 Best Hard Money Lenders in Ormond Beach 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 Ormond Beach
What Do Ormond Beach Hard Money Lenders Charge?
Hard money loan rates in Ormond Beach range from 8-12% for most fix and flip and shorter term loans. Many hard money lenders in Ormond Beach also charge points or origination fees on a loan that range from 1-2.
Do Hard Money Lenders In Ormond Beach Require Appraisals?
With most hard money lenders in Ormond Beach, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What Are Hard Money Loans In Ormond Beach?
Hard money loans in Ormond Beach 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 Ormond Beach Florida
Ormond Beach is a beautiful coastal city located in Volusia County, Florida. It is a popular tourist destination that offers a wide range of activities and attractions for visitors of all ages. Here is a detailed review of Ormond Beach, including the best things to do, places to see, food to eat, and more.
Things to Do:
1. Beach Activities: Ormond Beach is known for its pristine beaches that offer a variety of activities such as swimming, sunbathing, surfing, and fishing. The beach is also perfect for long walks and bike rides.
2. Tomoka State Park: This park is a great place to explore the natural beauty of Ormond Beach. Visitors can enjoy hiking, camping, fishing, and kayaking in the park.
3. Ormond Memorial Art Museum and Gardens: This museum features a collection of art and artifacts from local artists and hosts various exhibitions throughout the year. The gardens surrounding the museum are also worth exploring.
4. Daytona International Speedway: This iconic racetrack is located just a few miles from Ormond Beach and hosts various racing events throughout the year.
5. Ormond Beach Farmers Market: This market is held every Thursday and offers a variety of fresh produce, baked goods, and handmade crafts.
Places to See:
1. The Casements: This historic mansion was once the winter home of John D. Rockefeller and is now open to the public for tours.
2. Ormond Beach Historical Society: This museum showcases the history of Ormond Beach and features exhibits on the city’s early settlers, industries, and landmarks.
3. Bulow Plantation Ruins State Park: This park features the ruins of a sugar plantation that was destroyed during the Second Seminole War.
4. Rockefeller Gardens: This beautiful park is located on the Halifax River and features a variety of plants, trees, and flowers.
5. The Loop: This scenic drive takes visitors through some of the most beautiful areas of Ormond Beach, including Tomoka State Park and Bulow Creek State Park.
Food to Eat:
1. Betty’s A1A Cafe: This restaurant serves up delicious seafood dishes and has a great view of the ocean.
2. Hull’s Seafood Market and Restaurant: This family-owned restaurant offers fresh seafood and a casual atmosphere.
3. Grind Gastropub and Kona Tiki Bar: This restaurant and bar serves up delicious burgers, sandwiches, and cocktails.
4. The Tasting Room: This wine bar and restaurant offers a variety of small plates and a great selection of wines.
5. Peach Valley Cafe: This breakfast and lunch spot serves up delicious comfort food and has a cozy atmosphere.
Overall, Ormond Beach is a great destination for anyone looking for a relaxing beach vacation with plenty of activities and attractions to explore. Whether you’re interested in history, nature, or just soaking up the sun, Ormond Beach has something for everyone.