Finding the best hard money lenders in Palm Bay 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 Palm Bay 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. Palm Bay private money lenders can give you the financing you need to secure your deal.
Top 5 Best Hard Money Lenders in Palm Bay 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 Palm Bay
What Do Palm Bay Hard Money Lenders Charge?
Hard money loan rates in Palm Bay range from 8-12% for most fix and flip and shorter term loans. Many hard money lenders in Palm Bay also charge points or origination fees on a loan that range from 1-2.
Do Hard Money Lenders In Palm Bay Require Appraisals?
With most hard money lenders in Palm Bay, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What Are Hard Money Loans In Palm Bay?
Hard money loans in Palm Bay 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 Palm Bay Florida
Palm Bay is a city located in Brevard County, Florida, United States. It is a beautiful city with a population of around 115,000 people. Palm Bay is known for its stunning beaches, natural beauty, and outdoor activities. Here are some of the best things to do, places to see, and food to eat in Palm Bay.
Things to Do:
1. Visit the Turkey Creek Sanctuary: It is a beautiful nature reserve with hiking trails, boardwalks, and wildlife viewing areas. You can see a variety of birds, turtles, and alligators here.
2. Go to the Palm Bay Aquatic Center: It is a great place to cool off on a hot day. The center has a large pool, water slides, and a lazy river.
3. Explore the Brevard Zoo: It is a popular attraction in Palm Bay. The zoo has over 900 animals from around the world, including giraffes, rhinos, and kangaroos.
4. Play Golf: Palm Bay has several golf courses, including the Majors Golf Club, which is a championship course designed by Arnold Palmer.
5. Visit the Andretti Thrill Park: It is an amusement park with go-karts, mini-golf, laser tag, and arcade games.
Places to See:
1. Melbourne Beach: It is a beautiful beach with white sand and clear water. You can swim, sunbathe, and surf here.
2. Sebastian Inlet State Park: It is a popular spot for fishing, surfing, and camping. The park has two jetties that extend into the ocean, creating great waves for surfing.
3. Historic Downtown Melbourne: It is a charming area with shops, restaurants, and galleries. You can stroll around and enjoy the architecture and atmosphere.
4. Kennedy Space Center: It is a must-visit attraction for space enthusiasts. You can see rockets, space shuttles, and learn about the history of space exploration.
5. Viera Wetlands: It is a beautiful wildlife sanctuary with walking trails and birdwatching opportunities.
Food to Eat:
1. The Shack Seafood Restaurant: It is a popular restaurant that serves fresh seafood, including shrimp, oysters, and crab.
2. The Broken Barrel Tavern: It is a gastropub that serves craft beer and delicious food, including burgers, sandwiches, and salads.
3. The Nomad Cafe: It is a cozy cafe that serves breakfast, lunch, and dinner. They have a variety of dishes, including vegan and gluten-free options.
4. The Burger Place: It is a casual restaurant that serves delicious burgers, fries, and milkshakes.
5. The Cuban Island Restaurant: It is a family-owned restaurant that serves authentic Cuban food, including sandwiches, rice dishes, and plantains.
Overall, Palm Bay is a great destination for outdoor enthusiasts, beach lovers, and foodies. It has something for everyone, from nature reserves to amusement parks, from seafood restaurants to Cuban cuisine. If you are planning a trip to Florida, don’t miss out on Palm Bay.