Finding the best hard money lenders in Palmetto 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 Palmetto 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. Palmetto Bay private money lenders can give you the financing you need to secure your deal.
Top 5 Best Hard Money Lenders in Palmetto 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 Palmetto Bay
What Do Palmetto Bay Hard Money Lenders Charge?
Hard money loan rates in Palmetto Bay range from 8-12% for most fix and flip and shorter term loans. Many hard money lenders in Palmetto Bay also charge points or origination fees on a loan that range from 1-2.
Do Hard Money Lenders In Palmetto Bay Require Appraisals?
With most hard money lenders in Palmetto Bay, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What Are Hard Money Loans In Palmetto Bay?
Hard money loans in Palmetto 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 Palmetto Bay Florida
Palmetto Bay is a beautiful suburban village located in Miami-Dade County, Florida. It is a family-friendly community that offers a peaceful and serene environment for its residents and visitors. The village is known for its lush greenery, beautiful parks, and excellent schools. Here is a detailed review of Palmetto Bay, Florida.
Things to Do:
Palmetto Bay offers a wide range of activities for people of all ages. The village has several parks and recreational areas where you can enjoy outdoor activities like hiking, biking, and picnicking. Some of the best parks in Palmetto Bay include Coral Reef Park, Ludovici Park, and Palmetto Bay Park.
If you are a fan of water sports, you can visit the Deering Estate at Cutler, which offers kayaking and canoeing tours. You can also go fishing or boating at the nearby Biscayne Bay.
Places to See:
Palmetto Bay is home to several historic landmarks and cultural attractions. The Deering Estate at Cutler is a must-visit destination for history buffs. It is a 444-acre estate that features a historic house, a museum, and beautiful gardens.
Another popular attraction in Palmetto Bay is the Thalatta Estate Park. It is a beautiful waterfront park that offers stunning views of the Biscayne Bay. The park also hosts several cultural events and festivals throughout the year.
Food to Eat:
Palmetto Bay has a diverse culinary scene that offers something for everyone. The village has several restaurants that serve delicious food from different cuisines. Some of the best restaurants in Palmetto Bay include The Fish House, The Black Market Miami, and The Big Cheese.
If you are looking for a quick bite, you can visit one of the many food trucks that are scattered throughout the village. The food trucks offer a variety of cuisines, including Mexican, Italian, and Asian.
Real Estate:
Palmetto Bay is a highly sought-after residential area that offers a variety of housing options. The village has several gated communities, single-family homes, and townhouses. The real estate market in Palmetto Bay is competitive, and the prices of homes vary depending on the location and size.
Schools:
Palmetto Bay is known for its excellent schools. The village is served by the Miami-Dade County Public Schools, which is one of the largest school districts in the country. Some of the best schools in Palmetto Bay include Coral Reef Elementary School, Southwood Middle School, and Palmetto Senior High School.
Conclusion:
Palmetto Bay is a beautiful village that offers a peaceful and serene environment for its residents and visitors. The village has several parks, cultural attractions, and excellent schools. The culinary scene in Palmetto Bay is diverse, and the real estate market is competitive. If you are looking for a family-friendly community that offers a high quality of life, Palmetto Bay is the perfect place for you.