Why Choose Us for Commercial Hard Money Loans?
Answers You Might Be Looking For
What are commercial hard money loans?
Commercial hard money loans are short-term, asset-based financing solutions secured by commercial real estate properties. Unlike traditional bank loans that focus on borrower creditworthiness, these loans are approved primarily based on the property’s value and the borrower’s equity position. They’re designed for quick closings when speed is more important than obtaining the lowest interest rate.
How fast can I close a commercial hard money loan in Florida?
With our local market expertise, most commercial hard money loans in Florida close within 5-10 business days once all documentation is received and the property evaluation is completed.
What are typical interest rates for Florida commercial hard money loans?
Our Commercial hard money loan rates in Florida typically range from 12% to 18% annually, depending on factors like loan-to-value ratio, property type, borrower experience, and market conditions.
What’s the maximum loan-to-value ratio available?
We offer up to 80% loan-to-value, meaning you need at least 20% down payment or equity in the property. We may go up to 85% LTV for exceptional properties or experienced borrowers with strong track records.
What types of commercial properties qualify in Florida?
Virtually all income-producing commercial properties qualify, including office buildings, retail centers, warehouses, apartment complexes, mixed-use developments, hotels, self-storage facilities, and specialty properties. Even non-performing or distressed properties can qualify since approval is based on property value rather than current income.
Do I need to provide financial statements or tax returns?
No. We require minimal documentation compared to traditional banks.
What are typical loan terms and repayment structures?
Our Commercial hard money loans typically offer 6-month to 3-year terms with interest-only monthly payments. Many loans include extension options for additional fees. The expectation is that you will either refinance with traditional financing or sell the property before the loan matures.
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