Palm Beach County Hard Money Lenders for Real Estate Investors
Need a hard money loan secured by real estate in Palm Beach County? This page has a list of direct hard money lenders that offer quick funding for a Palm Beach County property purchase, refinance, fix & flip, rehab & rent, ground-up construction, and equity cash out in 1st lien position. Hard Money lending is only for investment properties, not for homesteads. The loans are mainly based on equity in the subject property. For most lenders, the maximum LTV is typically 70% for a purchase and 65% for an equity cash out loan.Searching...
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Malve Capital LLC
Fast And Easy Real Estate Loans. Closing as fast as 5 business days, subject to clear title.
RBI Private Lending
Direct lender, specialized in Bridge, Fix and Flip and Construction. FN and new investors welcome.
Equity Lending Solutions LLC
Reliable Capital for Fix & Flip and Ground Up Construction Loans / Direct Private Lender
Florida Hard Money Interest Rates
According to the hard money loan documents software company, Lightning Docs, the average interest rate for Florida hard money loans in the 1st quarter of 2024 was 11.20%. The average loan amount was $419,827. These stats are the average of 615 short-term loans (including bridge, rehab, and ground-up construction) funded for investment properties in Florida between January 1, 2024 and March 31, 2024 by multiple hard money lenders that use Lightning Docs as their preferred software provider to prepare loan documents.
According to private lending data provider, Analytics Logics, the average interest rate for Florida hard money loans in the 1st quarter of 2024 was 10.94%. Lenders charged an average of 2.3% points (origination fee). The average LTV (loan-to-value) for hard money loans in Florida was 65%, and the average loan amount was $381,820. These stats are the average of all the loans which were funded between January 1, 2024 and March 31, 2024 by the many hard money lenders who use Liquid Logics’ loan origination software to manage their lending operations.
Top 10 Florida Hard Money Lenders
According to Forecasaâ„¢, here are the Top 10 Hard Money Lenders ranked by the number of loans originated in Florida the last 12 months from March 2024.
- Kiavi
- Equity Lending Solutions LLC
- Lima One Capital LLC
- American Heritage Lending LLC
- RCN Capital LLC
- RBI Private Lending
- I Fund Cities
- ROC Capital
- Renovo Financial
- Easy Street Capital
Forecasaâ„¢ provides analytics data for Florida hard money lending on a quarterly basis. You’ll find their top lenders data for many other states on our platform.
Select a Metro Area
Florida is a massive state, and many hard money lenders focus on particular metropolitan areas. Filter your search by selecting a metro area:
Miami & Fort Lauderdale | Orlando | Tampa Bay | Jacksonville | Palm Beach County | Fort Myers | Tallahassee | Pensacola
Completed Hard Money Loans in Palm Beach County
Hard Money Loan for Retail Property Purchase in Boynton Beach, Florida
$935,000
Gelt Financial, a direct private commercial real estate lender, funded a $935,000 hard money loan for the acquisition of a 5,700-square-foot retail property in Boynton Beach, Florida. The Borrower had been working with a bank but they were taking too long to close, and the seller was not willing to extend the closing date. The purchase price was $1,3750,000. The Borrower put down $440,000 cash, so the loan-to-value for our loan was 68%. We received the initial request just before Thanksgiving. The term sheet was signed on Black Friday and we funded the following week. The property had 3 units. Two of them were leased and Borrower occupied the 3rd unit. The loan term was set at 24 months but we expect to be paid off in less than 6 months. There is no lock-out period. This hard money loan was funded in December 2021.
Gelt Financial, a direct hard money lender based in Delray Beach, provided 100% financing for the purchase and rehab of a single-family home in Boyton Beach. The Borrowers are 2 young guys who have flipped a number of houses in the area. We’ve had a long-term relationship with them and didn’t require them to contribute any of their own cash to this deal. The subject property was being sold at auction which is nearly impossible for most lenders to consider since the due diligence is very limited. However, this is in our backyard in Palm Beach County, so we didn’t need an appraisal. We paid a 5% deposit at the auction and then funded the balance a few days after. The title was held in an LLC that Gelt Financial owns and we also recorded a 1st mortgage, but no monthly payments were required. The 1st mortgage of $260,000 will earn interest, and we will receive 40% of the profits upon the sale, which we estimate will be around $400,000. This JV equity deal was funded in March 2021.