The basic requirements include having an existing first mortgage in good standing, sufficient property equity (typically 30-50% of property value), and a combined loan-to-value (CLTV) ratio below 65-70%. Besides these, a verifiable identity is needed (passport acceptable if no Social Security number).

Our second mortgage hard money loans typically range from $100,000 to $10,000,000. The maximum LTV in Florida is generally lower at 55% compared to other states, meaning you can borrow up to 55% of your property’s appraised value minus your existing first mortgage balance.

Our Florida second mortgage hard money loan rates range from 11.00% to 15.00% with terms typically lasting 12-36 months. Most loans feature interest-only payments during the term, with origination fees ranging from 3-6 points (3-6% of loan amount).

We can close Florida second mortgage hard money loans in 2-14 days, though Florida transactions typically require 3 weeks to close due to state-specific title requirements.

No, we accept all levels of income and credit, with credit rarely being a reason for loan denial. The loan approval is based primarily on property equity and value rather than creditworthiness.

Eligible properties include residential single-unit and multi-unit homes, condos, apartments, and commercial real estate located in Florida. The property must have sufficient equity and meet our loan-to-value requirements.