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Broward County, Florida Real Estate Investor Loans
Perhaps the greatest investor of all time is Warren Buffett. Interviewed recently, he said something that all Florida real estate investors ought to take to heart: "When people get greedy, I get scared...and when people get scared, I get greedy."
Plenty of people are scared of the recent declines in the Florida real estate market and the uncertainty in financial markets, but smart Florida real estate investors know that there is wisdom in being a buyer when many people are anxious or even forced to sell their Florida real estate.
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At 1st Continental Mortgage, many of our best and most loyal Florida Mortgage customers are real estate investors who have managed great returns in up or down markets because they know human nature and they know where to find the best non-owner occupied mortgage rates for their investment loan properties. Call 1-800-570-0448 today for a confidential, no obligation mortgage quote on your Florida investor loan or refi.
We can't tell you whether it's time to be scared or greedy in the Florida real estate market, but we can provide you with the lowest rates and best loan terms for your long-term purchase of rental investment properties or for your short-term purchase of investment properties to fix and flip.
Whether you are a part time real estate investor buying a second home to diversify your real estate portfolio or an active full-time real estate investor buying Foreclosures, chances are we can help you secure the best financing for Florida investment properties. From low rate fixed mortgages to flexible Construction loans to hard money loans. Call 1-800-570-0448 right now to speak with Thomas Martin about your next Florida investor mortgage or Refinance.
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From A Mortgage Company Can Close Quickly
We can close quickly on your investment property loan in any city in Florida. From financing a B/C credit tenant for a rent to own in Hillsborough County to offering excellent financing on a rehabbed home that you have listed in MLS in Broward County, we can help you get the investment property loan you need in any of the cities we serve throughout Florida.
When you're buying investment property, we'll be glad to spell out your loan options and ensure that once your offer is accepted everything closes exactly as planned. No surprises and no excuses. That allows you to do what you do best: locate profitable Florida real estate investments that meet your property loan goals.
When you have a tenant or another investor who wishes to purchase one of your Florida investment properties, we can work with you to create creative financing options to create a win/win deal. Call 1st Continental Mortgage at 1-800-570-0448 or apply securely online using our quick application for dependable help from a company that is known for closing Florida investment property loans quickly.
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Condos, Townhouses with Less Than Full Documentation
Some banks are reluctant to finance condominiums or townhouses in newer developments when the units require a Florida investment property loan. We can create options for you to purchase these units even using less than full Doc loan options such as our no income investor loans and NINA investor loans. Call 1-800-570-0448 for a no-obligation, no-cost Florida investor mortgage quote today! We love a challenge and especially love to close the investor loans that other Florida Mortgage Lenders believe can't be done.
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Many other mortgage lenders do not know the lenders and best programs for financing modular homes when they are non-owner occupied, so they refer clients to us. We have been closing modular home investment property loans for investors for over a decade at 1st Continental Mortgage.
In many instances, the rental numbers won't cash flow with a traditional site built home, but work easily with a lower cost modular home. We can help you with the right investor Mortgages for your modular homes across the Sunshine State. Never heard of a modular home? As a real estate investor, you certainly want to call us today at 1-800-570-0448 or use our quick application to find out more.
Even when it comes time to qualify a tenant with less than perfect credit to purchase a modular home that he or she has been renting from you, we can make the process smooth and simple. Call 1-800-570-0448 or use our quick application form to find out about our investor financing for Florida modular homes.
Broward County hard money lender Serving all of Broward County Florida,
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Hard money lenders are lending companies offering a specialized type of real-estate backed loan. Hard money lenders provide short-term loans (also called a bridge loan) that provide funding based on the value of real estate that has been collateralized for the loan. Hard money lenders typically have much higher interest rates than banks because they fund deals that do not conform to bank standards.
Hard money lenders will offer a range of requirements on the loan-to-value percentage, type of real estate and minimum loan size for a hard money loan.
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[edit] Hard money risk
Hard money loans are more expensive because they are not based upon traditional credit guidelines which protect investors and banks from high default rates. As hard money lenders may not require the income verification that typical lenders require, they experience higher default rates (and, thus, charge a higher rate of interest). Individuals and companies may opt to take a hard money loan when they cannot obtain typical mortgage financing because they do not have acceptable credit or other necessary documentation.
[edit] Hard money collateral
Hard money collateral is typically the real estate loaned on. However it can and does sometimes include other assets of the individual or business borrowing the hard money. In many cases a hard money lender will offer a smaller loan size based upon a lower "Loan To Value Ratio". This means they may opt to loan no more than 65% of the property value. Therefore it is common for real estate investors to offer additional real estate as collateral in order to obtain a larger loan amount. This is known as cross-collateralization.
[edit] Market
Hard money lenders may serve a regional market, or may offer loans nationwide. Some hard money lenders are represented by brokers who may take a percentage of the loan (called points) in exchange for preparing and submitting the loan documentation (as well as finding a direct lender). Other hard money lenders deal directly with applicants. Other ways hard money lenders may vary include: charging application fees (some charge, others charge fees only when closing); prepayment penalties (some or none); and a focus on investment properties or a willingness to finance owner occupied property as well.
Several online directories offer links to multiple hard money lenders for brokers or borrowers seeking a lender.
[edit] Regulation
Several states' usury laws, including Tennessee and New Jersey, prevent hard money lenders from operating with their usual practices. Regulation of hard money not only differs by state, it differs by the status of the borrower in terms of whether or not the loan is made to a business or to a consumer. Consumers generally have additional protections in individual states. They also have more lending oversight and regulation benefits federally when the loan is issued by a commercial bank, that is federally chartered by the FDIC. Some of the most aggressive loan terms are issued by commercial hard money lenders.
[edit] Commercial hard money lender
Commercial hard money is issued to a business entity or individual signing on behalf of a business entity or corporation. It can be secured against a commercial property or residential investment property. It can also be secured against a residence in conjunction with a business property as a means of obtaining additional collateral for the lender. That type of additional security is referred to as a blanket mortgage. The sources of asset based commercial hard money loans are generally the following:
- 1. Private Individuals
- 2. Mortgage Companies
- 3. Federal Banks
- 4. SBA Lenders
These commercial hard money lenders all have varying degrees of benefits as well as downfalls in terms of choosing a commercial hard money loan lender. For example, a private individual may offer special terms, however may be unwilling to offer a work out plan as a matter of procedure, in the event the loan becomes delinquent. A federally-chartered bank may offer a competitive loan rate in comparison to an individual, however may demand a high pre-payment penalty fee, costing the borrower more money if they decide to sell or refinance the loan within one to five years.
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