Florida Construction Lenders for Residential Properties
Are you building a residential investment property in Florida? On this page you'll find a list of private construction lenders for ground-up projects throughout the Sunshine State. The maximum loan-to-completed value for most lenders in Florida is 70%. You typically need to contribute 20%-25% of the project costs and have some cash reserves. Development experience is always required. Most lenders will require the project to be fully entitled and shovel ready. A small percentage of lenders will consider land acquisition and/or horizontal financing. The lenders listed here can fund a single home build, or a development with multiple homes. We have a separate page for lenders that offer ground-up construction financing for commercial properties.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.
Select a Metro Area
Florida is a large state, and many lenders only consider construction loans in particular metro areas. Filter your search by selecting a metro area:
Miami & Fort Lauderdale | Orlando | Tampa Bay | Jacksonville | Palm Beach County | Fort Myers | Tallahassee | Pensacola
Funded Residential Construction Loans in Florida
Ground-Up Construction Loan for 6 Luxury Townhomes in Delray Beach, Florida
$15,000,000
I Fund Cities, an alternative lending platform, funded a $15,000,000 senior lien position ground-up construction loan of 6 luxury townhomes in Delray Beach, Florida. The purchase price was $5,500,000 and the construction budget was $16,660,636. The completed value was estimated at $32,600,000 so our loan-to-value was 57%. Two years ago, we provided a $3,000,000 bridge loan for the purchase of the property which had a structure that was eventually torn down to build these 6 luxury townhomes. Our initial loan included a $200,000 budget for soft costs and horizontal work. Once building permits were approved, our Borrower demolished the building and began the dirt work and foundation. Since this project was owned for 2 years and they were now fully permitted and construction was underway, we were able to give the equity value in the land to make for a better loan. We not only paid off the original bridge debt of $3M, but we were able to fund 100% of the construction funding needed to get these homes to the finish line. Completion is slated for the spring of 2024, and two of the six townhomes are already pre-sold. This residential ground-up construction loan was funded in April 2023.
Coastal Equity Group, a direct private lender, funded a $236,000 1st lien position ground-up construction loan for a single-family home in Cape Coral, FL. We funded 96% of the $225,444 construction budget, while the Borrower contributed 4% cash at closing. Our repeat Borrower started working with us in late 2021. This highly experienced investor and builder has created a streamlined strategy by purchasing multiple vacant lots and getting the lots set up for permitting prior to financing. Once the properties are 45-60 days out from permitting, Coastal Equity Group will provide construction financing. We refinanced the land at the current As-Is value plus construction reserves. With this current strategy, we’re able to fund multiple new construction projects at once allowing the Borrower to go from build to sell in less than 6 months. The Borrower had excellent credit. They plan to sell the property as an exit strategy. The interest rate was 10%. The loan term was set at 12 months. This SFR ground-up construction loan was funded in January 2022.Â
In March 2021, i Fund Cities provided a $306K ground-up construction loan for a single-family residence in Cape Coral, FL. The purchase price of the lot was $23,000, the construction budget was $337,000, and the completed value was $575,000. We funded 85% of the total project costs, and our loan term was set at 12 months. The client, a repeat iFC borrower, is an experienced developer that builds modern, single-family homes in West Florida. These developers were looking for a partner with whom they could trust and grow. We saw their vision, and by listening closely to what these investors needed, we were able to support them by ultimately giving them the exposure needed to complete five new construction projects this year!
Key Loan Benefit to Borrower
The key benefit to this borrower was that they had ease and peace of mind in relation to their lender and their funding. This allowed them to focus on doing what they do best! Just take a look at the results in these before (raw land), during, and after photos!
Private Construction Loan for Luxury Townhome Development in Delray Beach, Florida
$15,453,766
I Fund Cities (iFC), a direct private lender, funded a $15.4M loan for a townhouse development in Delray Beach, Palm Beach County, FL. The loan included the purchase of the land, plus the ground-up construction of 10 luxury townhomes to be completed in two phases. The first phase consisted of funding 80% of the total project cost with 100% of soft and construction funded in escrow, and 50% of the acquisition price. Once the first five home foundations are up and the buildings are 50 to 75% complete, iFC will release the remaining land from the loan to originate a new construction loan for the remaining five homes. Construction was scheduled to begin in the Fall of 2021. The completed value is projected to be around $2,000,000 to $2,400,000 per unit. The Borrower, a Philadelphia-based development firm that specializes in residential and multifamily new construction, was primed to get into the highly competitive Delray Beach real estate market. They planned to build six luxury and super-luxury development projects in 2021 and 2022. Although they have major development experience in Philadelphia and had a full network, team, and development plans ready to go in Delray Beach, they were growing frustrated with the lending options available; banks were hesitant to follow them into a new market where they had no track record. iFC funded the land acquisition for this property and 4 other projects within 30 days of visiting the sites in April 2021.
Private Construction Loan for Luxury Home in Delray Beach, Florida
$7,975,000
BridgeInvest, a direct CRE private lender, funded a $8MM 1st lien position construction completion loan secured by a 12,500-square-foot waterfront, ultra-luxury home located in Delray Beach – one of the fastest growing cities in Palm Beach County. The loan will allow the Sponsor, to complete construction and design changes for the home. We restructured the initial acquisition loan to fund the additional proceeds required for the Sponsor to execute their business plan. This marks the fifth loan closed with this Client. The home is a niche product due to its unique situation, exclusive location, and luxury price point, necessitating bespoke underwriting and a tailored loan structure. Located across A1A from the beach, the three-story home boasts over 140 linear feet of unobstructed ocean views and is less than a half mile from Atlantic Avenue, the center for entertainment in Downtown Delray Beach, providing easy access to desirable retail and restaurants. The home includes amenities such as a pool, spa, gym, wine cellar, 5-car garage, and a summer kitchen. This private money construction loan was funded in March 2019.
BridgeInvest, a direct CRE private lender, funded a $11,500,000 1st lien position ground-up construction loan for a single-family home in Palm Beach, Florida. We closed an $11.5MM acquisition and construction loan for a to-be-built 11,500 SF ultra-luxury home. The proposed house will include a theater, game room, library, and pool house. The site benefits from direct ocean views, enhanced by a favorable elevation, and private beach access. The property is located in an exclusive, high-end, estate area of Palm Beach. The asset is a natural niche product due to its location and price point, necessitating bespoke underwriting that traditional lenders could not provide. The construction loan was structured to provide the Borrower with the flexibility to pursue several possible business plans and exit strategies. BridgeInvest closed the loan in just three weeks enabling the Borrower to execute a purchase contract with a rapidly approaching expiration date. This SFR private construction loan was funded in August 2018.