Hard Money Loan Tampa | Best Hard Money Lenders Tampa | Fast Close

• RATES STARTING AT 6.99%*+
• POINTS AS LOW AS 1.50*
• 1-3 YEAR TERM INTEREST ONLY
• UP TO 90% LTV!
• NO PREPAYMENT PENALTY*
• QUICK 7 DAY CLOSING
• NO VERIFIED INCOME DOCS REQUIRED OR TAX RETURNS NEEDED
• MINIMUM LOAN AMOUNT OF $100,000 UP TO 100 MILLION
• LENDING AVAILABLE NATIONWIDE ON COMMERCIAL LOANS
• N/O/O RESIDENTIAL, BUSINESS USE PURPOSE, INVESTMENT & COMMERCIAL PROPERTIES ONLY
• 30 YR RENTAL PROGRAM WITH RATES STARTING AT 5.49%!

Tampa Real Estate Market- Since Tampa’s housing market is upwards since 2021, rental property loans are a great option for real estate investors looking to purchase properties for long term cash flow. Tampa’s low rental inventory and high absorption rate is the primary reason the Tampa performs so well and home prices continue to rise. Moreover, Tampa is on the list of vacation rental/short term renters list as well to find short term rental properties.

Tampa Real Estate Trends- In the period of 2021-2023, the median sales price for a Tampa-area property was $530,000, and the average rental rate for a one-bedroom apartment was $2,492 making the Tampa FL rental market one of the hottest in the country.

Why to use Hard Money Lender in Tampa? - There are many reasons why a borrower would choose to use private financing or a hard money loan over a more affordable conventional funding:

• Fast Closing- They can be closed quicker than traditional loans due to collateral. You can generally get the funds within 5 days.
• Flexibility- They are flexible and do not use an underwriting process. Private hard money lenders can structure repayment and collateral release terms in ways that are mutually beneficial to both borrower and lender.
• Financial position is not the primary concern. The private hard money lender can approve your hard money loan without requiring your financial documents.
• Your Current Credit Rating Doesn’t Matter. If you don’t have a good credit rating at the moment, getting approval for a traditional loan for property development might seem impossible.
• Payment is not emphasized because the borrower provides collateral. With a hard money loan, the property itself usually serves as collateral for the loan. But again, lenders may allow investors a bit of leeway here. Some lenders, for instance, may allow you to secure the loan using personal assets, such as a retirement account or a residential property you own.

At Hard Money Loan Florida, we base our funding decision mostly on the LTV (loan to value). We typically look for a 50%-65% LTV in our loans. What that means is we typically lend out 65% of the appraised value of the property to the borrower.