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Florida Construction Lenders for Residential Real Estate
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.
Florida is a large state, and many lenders only consider construction loans in particular metro areas. Select a region to filter the lender list:
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Malve Capital LLC
Fast And Easy Real Estate Loans with High Leverage. Closing as fast as 5 business days, subject to clear title.
Aggressive Pricing & Excellent Service for Bridge, Rehab, Rental, Construction Loans
Funded Residential Construction Loans in Florida
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
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.
BridgeInvest closed a $8MM 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 on 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.
Private Construction Loan for Palm Beach Florida Luxury Home
BridgeInvest closed an $11.5MM acquisition and construction loan for a to-be-built 11,500 SF ultra-luxury home in Palm Beach, Florida. 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 naturally 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 flexibility to pursue several possible business plans and exit strategies. BridgeInvest closed the loan in just three weeks enabling the borrower to execute on a purchase contract with a rapidly approaching expiration date. This loan was funded in August 2018.