Hard Money Loans in Florida

A Florida flip is usually a block house that needs its roof, windows and systems updated as much as its finishes. State law requires residential insurers to offer discounts for proven wind-mitigation features, so a new roof, impact windows and a wind mitigation report can make the finished house cheaper to insure. In a flood zone, take the scope to the building department first, because a substantial improvement must bring the whole house up to current flood rules. Documentary stamp tax applies to the deed when you buy and again when you sell, plus the mortgage you record.

Apex's hard money fix and flip loans go up to 92.50% of total cost and up to 100% of the rehab budget, with a 650 minimum FICO and lower scores considered case by case. First-time investors are welcome.

Long-term rental demand comes from military families near the bases in Jacksonville, Tampa and the Panhandle, from hospital, port and university workers, and from tourism jobs. Short-term rentals cluster near the Orlando parks and the beaches. Cities and counties cannot impose rent control, and they cannot ban vacation rentals or limit how long or how often they rent, apart from grandfathered older rules. A vacation rental needs a state lodging license, and its rent carries state sales tax and any county tourist development tax.

Apex qualifies DSCR loans on the property's cash flow, with no employment or personal earnings verification: ratios as low as 0.75x, a 30-year term, loan amounts from $100K to $3M+, cash-out up to 80% LTV, and long-term or short-term rentals. Reaching the full 80% takes a stronger DSCR and credit score than the program minimums, so leverage on each file is set by its DSCR and credit.

Florida investors reach for bridge loans when the calendar is tight: closing before another sale settles, filling vacant units in a small apartment building before a refinance, or carrying a house through a roof replacement or storm repairs until it qualifies for long-term financing. A bridge loan is short-term hard money, repaid from the sale or refinance. If tenants are in place, get the seller's deposit accounting at closing, since Florida law moves security deposits to the new owner and presumes, up to a limit, that you received them.

Terms are set deal by deal. Experienced and first-time sponsors are both considered, term sheets go out within 12-24 hours, and qualified deals with complete documents can fund in as fast as 15 days.

Florida construction splits between platted lots and infill. In Cape Coral, Lehigh Acres, North Port and Palm Coast, old land-sale subdivisions left neighborhoods of empty lots that builders fill house by house, so check whether a lot has city water and sewer or needs a well and septic system. In built-out St. Petersburg, Tampa and Miami, new construction usually means a teardown or an infill lot. Every build follows the Florida Building Code, with stricter wind rules in the High-Velocity Hurricane Zone of Miami-Dade and Broward. Before work starts, the owner records a notice of commencement naming the lender.

Apex construction loans cover up to 100% of the construction budget, with draws released against progress.