Hard Money Lender Fort Lauderdale
Capital Funding Financial is the #1 Hard Money Lender in Fort Lauderdale with 80+ 5 Star Reviews!
How to find the lowest rate for a hard money lender in Fort Lauderdale
Fort Lauderdale Hard Money Lending Parameters:
| CLOSING TIME | 7 – 14 days |
| LOAN SIZE | $100,000 to $25,000,000 |
| LTV | Up to 80% LTV |
| LTC | Up to 90% LTC |
| LOAN TERM | 12 to 24 months |
| INTEREST RATES | 6.99% to 11.99% |
| AMORTIZATION | Interest-only payments |
| ORIGINATION FEES | 1.50 to 3.50 points based on location and property, LTV, credit worthiness of the borrower, loan amount and term. |
| LENDING AREAS | Nationwide with the exception of a few states |
CALL US TODAY: 954-320-0242
If applying for conventional financing is too time-consuming, stressful, or simply unavailable. Apply now for a Hard Money Loan in Fort Lauderdale with Capital Funding Financial.
Whether you are a seasoned Fort Lauderdale real estate investor or a first-time borrower looking to your first investment property Capital Funding Financial can help.
CAPITAL FUNDING FINANCIAL OFFERS FINANCING THAT IS EASY, FAST, & RELIABLE.
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If “Speed and Certainty of Closing” is what you need then our “Hard Money Program” is the best option.
Features/Requirements of the “Hard Money Program”
- Loan Amount: Up to 65% Loan to Value
- Term: 12 Months (longer terms by exception)
- Rate: 9.99% – 11.50% Interest Only
- Origination Fee: 2.00+ pts (based on credit experience, ltv, risk)
- Loan Size: $100,000 – $25 Million
- Valuation Method: Quick BPO, Inspection, or Appraisal
- No Minimum Credit Score!
- No Tax Returns or Income Documentation Required!
- Foreign National Acceptable!
- No Debt Service Requirement!
- No Experience Needed!
- 7 to 10 Day Closing Timeline (exceptions made for faster closings)
- Can Close in an Individual Name or Entity
- Cross-Collateralization accepted
- Seller Seconds Allowed
If obtaining the “Highest Leverage” is what you are looking for then our “Bridge / Fix and Flip Program” is the best option:
Features/Requirements of the “Bridge / Fix and Flip Program”
- Loan Amount: Up to 90% Total Loan to Cost or 75% Loan to Value
- Renovation: 100% of the Renovation can be funded | Max 90% Total LTC
- Term: 12 Months (longer terms by exception)
- Rate: 9.75% – 12.50% Interest Only
- Origination Fee: 2.00+ pts (based on credit experience, ltv, risk)
- Loan Size: $100,000 – $7.5 Million
- Valuation Method: Appraisal
- 680 Minimum Credit Score (exceptions granted to 620)
- Foreign National Acceptable!
- No Debt Service Requirement or Rental Income Needed!
- 21 to 28 Day Closing Timeline (exceptions made for faster closings)
- Close in an Entity
- Single Family and Multifamily Loans Accepted
If obtaining the “Lowest Rate” is what you are looking for then our “Rental/DSCR Program” is the best option:
Features/Requirements of the “Rental / DSCR Program”
- – Loan Amount: Up to 80% Loan to Value
- Term: 30 Years
- Rate: 6.50% – 8.50% (Fixed or Interest Only)
- Amortization: 3/1 ARM, 5/1 ARM, 10/1 ARM, 30 Year Fixed Options
- Origination Fee: 1.50 – 2.50 pts (based on credit experience, ltv, risk)
- Loan Size: $100,000 – $7.5 Million
- Valuation Method: Appraisal
- 660 Minimum Credit Score (exceptions granted to 620)
- Foreign National Acceptable!
- Debt Service Required (Ranging from .75 to 1.10 based on pricing)
- No Experience Needed!
- 21 – 28 Day Closing Timeline
- Close in an Entity
- Short Term Rentals allowed with Track Record
- Vacant Properties allowed by using Market Rent
- Portfolio Loans Available
- Single Family and Multifamily Loans Accepted
If you are looking for financing for a “Ground Up Construction Project” then our “Ground Up Construction Program” is the best option:
Features/Requirements of the “Ground Up Construction Program”
- 12, 18, or 24 Month Term
- Single Family, Multi-family, and Commercial (case by case exceptions)
- Up to 85% LTC | 65% – 70% LT-ARV
- No Interest Charged on Undrawn Funds
- Rate = 10.99% – 12.99%
- Origination Fee = 2.00 – 3.00 pts (based on credit experience, ltv, loan size)
- Minimum loan amount of $500k – Max of $50M (exceptions for higher amounts)
- 21 -28 Business Day Closing Timeline
- Must close in an Entity
If you are looking for financing for a “Commercial Loan” then our “Commercial Loan Program” is the best option:
Features of the Commercial Bridge Program:
- 12, 18, or 24 Month Term
- Up to 75% LTV
- 1 Million – 15 Million (case by case exceptions)
- Office, Retail, Storage, Industrial, Multi-family, others
- No DSCR required = Great fit for un-stabilized commercial properties
- Rate = 10.99% – 13.99%
- Origination Fee = 2.00 – 3.00 pts (based on credit experience, ltv, loan size)
- Minimum loan amount of $500k – Max of $25M (exceptions for higher amounts)
- 21 Business Day Closing Timeline
- Must close in an Entity
APPLY NOW
CALL US TODAY AT 954-320-0242
APPLY NOW
CALL US TODAY AT 954-320-0242
GET PRE-APPROVED IN 5 MINUTES: 954-320-0242
What is a hard money loan?
A hard money loan is a loan given to your borrower from a lender based mostly on the value of the underlying collateralized asset. Traditional banks and lenders focus primarily on the credit and income of the borrower where asset based lenders aka hard money lenders focus mainly on the worth of the asset used as security for the loan. Where traditional loans are usually for 15–20 year periods, hard money loans are used as a short-term alternative (1–3 years usually) as a bridge to acquire a rehab, or stabilize a commercial, retail, office, industrial, multi–family, or single family residential dwelling.
Why exactly would someone choose a hard money loan (asset–based loan) over a traditional loan offered by a bank with lower rates?
There are many reasons why a borrower would choose to use private funding or a hard money loan over a more affordable conventional funding: (1) Quick Funding– conventional banks take the absolute minimum of 45 days to fund a single family residential loan, any where between 60–90 days to finance a commercial loan, and over 120 days to fund a development loan. Whereas, a hard money loan is generally financed within 5-10 days. (2) Property Requires Work– because of the traditional bank‘s very conservative underwriting guidelines, most will not lend on properties in need of repair. However, a personal lender will be happy to give on a property that either lacks cash flow or necessitates physical improvements so long as the borrower has enough “skin in the game” (equity). Before it can be used for example, a loan guaranteed by a property in need of repairs is very rarely funded by banks; consequently the borrower will use a hard money lender then, and rehabilitate and to buy the property payoff the hard money loan with conventional financing. Another example would be a commercial property that has no tenants… a bank won’t loan until the property is leased up. Nonetheless, a personal lender will give you short term lending to the borrower to purchase the property and rent it up to stabilization. Once the property is stabilized for a particular period of time, a commercial lender will refinance the hard money loan with normal financing. (3) Not based solely on credit or income– Traditional banks rely heavily on a borrower’s credit score, previous income, and ability to repay the debt. Consequently traditional banks for normal financing consistently turn down even quality borrowers for example doctors, lawyers, and solicitors who have high incomes but also have lots of debt. Therefore, there’s a huge need for private lenders who look the value of the underlying asset when compared with the loan amount versus the borrower’s credit history. We normally look for a 50% – 80% LTV in our loans. What that means is we usually lend out 70% of the appraised value of the property to the borrower.
What are the interest rates involved in hard money loans in Fort Lauderdale?
Hard money loan rates typically range from 10% all the way up to 15%. The rate by the lender is dependent on taking a look at a mix of factors for example: (1) loan to value ratio, (2) borrower’s credit score & income, (3) the property state and location, (4) borrower’s “skin in the game” (sum of cash equity in the property). At Capital Funding Financial we offer the lowest rates around starting at 6.99%*
What are the fees associated with asset based lending?
Hard money lenders charge financing origination fee of 3% to 5% of the loan amount. Various fees for document preparation will subsequently charge by an attorney, an application fee, assessment fee from an unaffiliated appraiser, and a loan processing fee. Capital Funding Financial charges an extremely low origination fee starting at 1.50%* and offers straight forward terms without all the hidden junk fees.
Can the loan fees be paid from your loan proceeds?
Yes there is a huge enough equity cushion in the real estate. Most of the time all of the fees (other than the application fee) are paid in the actual loan earnings.
Will there be a pre-payment penalty with hard money loans?
For example, with a 6 pre-payment fee, if the borrower were to repay the loan in 3 months, there would be 3 additional months of interest due. This condition is put in place in order for the lender receives at least a small yield for the time, hassle and allocation of its funds to your borrower. Capital Funding Financial does not have any pre-payment penalty!
How quickly can a hard money loan that is typical close?
At Capital Funding Financial, we are a direct lender backed by a family office and have the ability to close loans within a few days when given a complete loan package (appraisal or BPO, loan application, title commitment).
Is an appraisal required?
Yes, hard money loans typically require an appraisal… however Capital Funding Financial accepts re-certified appraisals or a new broker’s price opinion (BPO).
When completing a rehab or fix and flip, what will the hard money lender require?
The lender will want to see the range of work described with a cost analysis worksheet and timeline. The lender uses this as helpful tips in releasing capital for rehabilitation purposes. Nothing ever goes as intended when performing a rehabilitation; hence the lender will need to see the borrowers experience in managing or performing real estate repairs. The lender require an inspection to be made after each draw is complete and will release funds in draws for such repairs that are listed. The lender may also require a credit report and income statement from the borrower to show that the borrower has the ability to repay the loan. Nonetheless, hard money lenders focus largely on the asset value of the collateral rather than the credit score. At Capital Funding Financial we offer fix and flip financing up to 75% of the ARV and 90% LTC with 100% of the Rehab funded!
If you’re looking for a hard money loan for a rehabilitation, fix & flip, or investment purpose, contact us today at 954 320 0242 or toll free at 1–866–695–0092 or visit Hard Money Loan for more info.
Capital Funding Financial:
Fort Lauderdale Hard Money Lender | Fort Lauderdale, Florida