Short-term Loan solutions to bridge the gap until permanent financing becomes available.
A Hard Money Loan, also known as a Bridge Loan, is traditionally used to finance the acquisitions of a property, improvements, renovations, or as a short-term solution for Real Estate investors to stabilize rent.
This type of financing allows borrowers to bridge the gap during times when financing is needed but not yet available. Private Money interest rates do not fluctuate like institutional loans that are tied to common interest indices.
Both corporations and individuals can take advantage of hard money loans and at Sun Capital Mortgage Miami we can customize these loans for many different situations.
If you’re considering a hard money loan Miami to help you take on your next project or endeavor, Sun Capital Mortgage is here to make the process easy for you to understand. If you’re not sure what a hard money loan entails, here’s a quick overview of what it is and why it might be a good option for you.
A hard money loan is a type of bridge loan that you can use to buy or refinance a property. These loans can also be used for projects such as home improvements and renovations. This type of loan is asset-based, meaning it’s backed by items like real estate instead of your credit score and history.
Private lenders in Miami (rather than banks) most often issue hard money loans. A good private lender Miami will also give you a consistent interest rate on your loan rather than a variable rate. A fixed interest rate allows you to plan ahead because you know exactly what you owe and what every month’s payment will be. When you go through a reputable hard money lender, you can rest easier knowing there won’t be surprises along the way.
There a quite a few reasons why you might seek a Miami hard money loan. One of the most popular reasons is the speed at which you can acquire this type of loan. Other forms of financing can take weeks to be approved and then awarded; however, receiving a hard money loan is a fast process, often finding its way into your pocket in two weeks or less after you’re approved.
Hard money lenders will often not take your credit score into account when evaluating you for a loan. Since the loan is asset-based, the funds are protected with real property. If you have a low credit score but can back the loan with a physical asset, a hard money loan could be a solid option.
These are just a few examples of situations that might make a hard money loan a good fit for you or your business’s needs. Each individual’s financial, capital, and personal situation is their own, and each situation calls for a different solution. A hard money loan is just another useful option you can use to meet your capital needs.
As long as you have the equity to stay under Sun Capital Mortgage 65% loan-to-value ratio, you are that much closer to being a good candidate for a private loan Miami. To measure your loan-to-value ratio, take the loan amount you want and divide it by the current appraised value of the property you’re using to back the loan. You’ll discuss whether or not your loan-to-value ratio is a good fit for private lending services when you reach out to one of the professionals who make up our elite team.
There are many hard money lenders in Florida, Orlando and Miami but not many are as designed to fit your needs. When you apply for a private loan through Sun Capital Mortgage Investors / Lenders , you can expect a decision to be made about your loan within 48 hours. If you are approved, you may receive your funds as fast as four days after your approval. When it comes time to start paying off your loan, you’ll make interest-only payments for a short loan life span. Remember, this interest is based on a fixed rate instead of a variable rate.
Hard money loans through Sun Capital Mortgage Miami generally fall within the $100,000 to $5 million range, depending on how much property you want to back up your loan with and how much you want to borrow. When you’re trying to boost your real estate portfolio, this jump in liquid funding can be just what you need to take your portfolio to the next level.
The team at Sun Capital Mortgage understands the importance of the loan’s life cycle as well. Once a property is stabilized, It will seamlessly convert your bridge loan into permanent financing with terms up to 30 years. We will streamline the process and you as the borrower will benefit from the economics of origination fees and exit fees as well as the continuity of having the same dedicated team.
Well-structured financing is essential to successful commercial property portfolios. Sun Capital connects Real Estate investors to effective capital through the bridge-to-perm marketplace, with fast, knowledgeable, and affordable financing solutions.
A private, hard money lender in South Florida that can help you acquire the funds you need to take the next step in your financial plan. If you’re looking for a hard money lender, our services are a great asset at your disposal. Private money lending Miami companies, such as Sun Capital, are a powerful alternative to traditional lending services that may take longer to get you where you need to be.
We have the know-how and drive to give you the tools you need to progress your financial situation. Our team comprises lenders, mortgage Bankers, investment professionals, and more who will advise you throughout the loan process. Our passionate professionals align themselves to help businesses, investors, and individuals meet their capital and real estate needs.
If you think that a hard money loan may be a good course of action to help you reach your goals, contact our team of Miami Lending professionals at Sun Capital. We will work with you throughout the entire process to provide you with a simpler, streamlined experience.
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Please call 305-910-2436 to set up your free consultation for Miami, FL hard money loans.