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Our primary focus is non-owner occupied single family homes and residential  income property (1-4 apartments). The approval through closing process can be a matter of days, simply because there is no personal qualifying necessary(asset based only). We have terms and conditions to suit either short or long term needs.

Property Geographic Area Details

Central and South Florida

Loan Amounts

$50,000 to $1,000,000

Interest Rates

12% to 15%

Max Loan-To-Value

70.00%

Max Loan-To-Cost

70.00%

Origination Fees

1% to 2%

Loan Terms

1 months to 24 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property

Property Occupancy

  • Vacant
  • Tenant Occupied 100%

Property Types and Loan Types

Collateral Types

  • Residential Property

Property Types

  • 2-4 Units Residential
  • Single Family Residence

Loan Types

  • Private Money
  • Hard Money

Purchase Loan

Max Loan-To-Purchase Price

70.00%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Family

Details and Requirements

Typical Closing Time (Days)

7

Fastest Closing Time (Days)

7

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only

Payment Structure Details

Monthly interest only payments

Pre Payment Penalty

yes

1% in the first year only

Will lend to a foreign national

yes

Any

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

no

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

  • Individual(s)
  • LLC
  • Corporation

Documentation Required

  • Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

no

Appraisal Required for Residential Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Never

Fees

Fees which are paid to a third party company

  • Appraisal Fee

Monroe Funding Corp is a direct hard money lender specializing non-owner occupied first mortgages for real estate investors. We have been serving Florida since 2008. Our goal is to remove the limitations of conventional lending.

*No Credit Checks

*Foreign Nationals Welcome

*Property in any Condition

“Hard Money Lending Made Simple”

Year Established

2008

Office Locations

3015 N Ocean Boulevard, Suite 104, Ft. Lauderdale, Florida 33308

Primary Capital Source

  • Own Funds

Loan Structure for Majority of Loans

  • One Investor One Loan

Percentage of company’s lending business focused on private mortgage

100%

Percentage of Loans Secured by Residential Property

100%

Percentage of Residential Property Loans Which are Buy and Hold

60%

Total Number of Loans Funded to Date

500

Total Loan Volume Funded to Date

$50,000,000

2017 Number of Loans Funded

35

2017 Loan Volume Funded

$3,500,000

Doug Williams

President

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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how will the loan be paid off?

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