Best Commercial Real Estate Loan in Palmetto Bay, FL

Mixed-use loans

For their mixed-use property, some borrowers will request a hard money loan. These loan schemes are provided by non-banks and private developers, and their financing choices are based on the property’s unencumbered valuation (equity). This equity ensures the lender than if the borrower defaults on the loan, the lender would be able to recoup their gains by the selling of the property. Unlike a bank loan, hard money lenders do not focus their loan decisions on the borrower’s credit record, such as poor credit, eviction, or bankruptcy history.

Construction Loans

When you borrow money to buy a home, you don’t have any leverage to back up the loan the same way you can for a conventional mortgage — at least not yet. This makes lenders anxious, so you’ll have to go through a couple more hurdles before they’ll hand over the cash. Expect a detailed review of your building designs, your contractor, and your finances. A building loan’s disbursement varies from that of a conventional loan.

Instead of a lump sum payout, lenders reimburse home building loans to the homeowner in increments known as “draws.” Each drawing refers to a main stage of the project, such as foundation pouring, painting, and finishing work. Before a draw is issued to the builder, an assessment is normally required, and the cost of that payment is based on the job done, as noted in the inspection report.

Private money loans

Our mission is to partner with you to fulfill your Miami real estate funding needs as efficiently as possible, whether it’s for a property, refinance, or bridge loan. Our private money loan, hard money loan, and broker acceptance procedures have all been streamlined.