Florida Bridge Lenders for Residential Real Estate
A list of lenders offering bridge loans for a Florida residential property purchase. Most private mortgage lenders only offer loans for investment or business purpose. Some will consider a primary residence bridge in which a homeowner uses equity in one home to buy another. Change the loan type to "Residential Owner-Occupied" for more options.
Stormfield Capital, a direct private lending firm, funded a $765,000 bridge loan for the purchase of a waterfront single family investment property in Tavernier, Florida. The investor was left scrambling after his relationship bank told him that it would take them 120 days to close his loan. Stormfield was able to fund this purchase-money loan in 7 business days from application. We did not require an appraisal. The loan was custom structured for the Borrower's unique scenario. The loan includes a three month interest reserve and there is no prepayment penalty. The Borrower's strategy is to complete minor cosmetic improvements to the property and then refinance with a conventional bank loan. Tavernier is located on Key Largo, in the upper Florida Keys. This residential bridge loan was funded in December 2020.