The property itself is what many hard money lenders will consider to approve a hard money loan. They’ll make sure it can pay the loan back instead of just looking at your credit score and give a verdict based on it.
You can get an approval letter for a loan program issued, in just days after completing the required process, which isn’t complicated at all like the ones from traditional banks that take plenty of time and require too much documentation.
One interesting and important fact about hard money lenders is that underwriting guidelines aren’t the same for all of them since each has its own requirements and process. But in general, in almost all cases you’ll find that working with a hard money lender isn’t bad at all once you’re both on the same page.
Pompano Beach is a great place for a property investment. It’s in Broward County and has a population of 118,568 residents. One of the top companies based here is Associated Grocers of Florida.
Living Costs in Pompano Beach
You’ll find in the real estate market a median home value of $230,775 and a rent per month of $1,848. While the per capita income is $28,708 with a recent job growth of 1.87%.
Pompano Beach’s Community Redevelopment Agency (CRA) offers some incentives to help with redevelopment and property renovations, depending on the district the programs are different. Here’s what they offer:
Northwest Incentive Programs
- Northwest Façade & Business Site Improvement Program
- Northwest Capital Improvement Grant Program
- Northwest Real Estate Development Accelerator (REDA) Program
- Northwest Relocation & Development Incentive Program
- Northwest Strategic Investment Program (SIP)
- Northwest Strategic Investment Streetscape Program (SISP)
East Incentive Programs
- East Façade & Business Site Improvement Program
- East Strategic Investment Streetscape Program (SISP)
- East Capital Improvement Grant Program
- East Real Estate Development Accelerator (REDA) Program
- East Strategic Investment Program (SIP)
- East Relocation & Development Incentive Program
Residents in Pompano Beach that have completed high school or higher occupy 82.4% and those who have a Bachelor’s Degree or higher occupy 25.1%.
Famous Places in Pompano Beach
Among the most visited places you’ll find the Isle Casino Racing Pompano Park, 26 Degree Brewing Company, Pompano Beach Amphitheatre, Pompano Municipal Pier, Pompano Community Park and the Fern Forest Nature Park.
The City of Pompano Beach is also known for the Pompano Beach Seafood Festival and the Pompano Beach Holiday Boat Parade.
If you want to learn more about property deals, loan programs, requirements and more you can contact a hard money lender in Pompano Beach, Florida now by choosing one from the list below.