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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 Bridge Loan Interest Rates
According to the loan documents software company, Lightning Docs, the average interest rate for Florida bridge loans in the 4th quarter of 2023 was 11.31%. The average loan amount was $381,149. These stats are the average of 510 short-term loans (including rehab and ground-up construction loans) funded for investment properties in Florida between October 1, 2023 and December 31, 2023 by multiple bridge 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 bridge loans secured by residential investment properties in Florida in the 4th quarter of 2023 was 11.11%. Lenders charged an average of 2.2% points (origination fee). The average LTV (loan-to-value) for bridge loans in Florida was 65%, and the average loan amount was $340,316. These stats are the average of all the loans which were funded between October 1, 2023 and December 31, 2023 by the many private lenders who use Liquid Logics’ loan origination software to manage their lending operations.
Funded Residential Bridge Loans in Tampa Bay
Yieldi, a direct lender for investment properties nationwide, funded a $1,800,000 1st lien position bridge loan secured by a single-family home in St. Petersburg Beach, Florida. The property value was estimated at $3,100,000 so our loan-to-value was 57%. This is a fully remodeled 4-bedroom, 3-bathroom home in a fantasy-like location overlooking Boca Ciega Bay and downtown St. Petersburg in the distance. The remodel included the bathrooms, kitchen, and two balconies providing additional access to the breathtaking views. A new paver driveway, new roof, 4 HVAC systems, and a new sea wall were also included in the remodel. An in-ground pool is to be installed in the rear yard along with new hardscape and entertaining areas. The Borrower had good credit. They plan to refinance with a conventional loan as an exit strategy. The interest rate was 13.5%. The loan term was set at 12 months. This SFR refinance bridge loan was funded in June 2023.