Hard Money Lenders in West Palm Beach
Navigating the financial realm in West Palm Beach, FL can pose various challenges, particularly when seeking funds for real estate projects. With us, at Working Capital Marketplace we offer hard money loans that also offer:
Funding available up to $10,000,000
No fixed payments
30+ years of industry experience
5-star rating on GMB page
5 Star Rating on Google
Property that Can be Financed with Hard Money Loans
Multi-family
Vacant land
Co-ops
Industrial & warehouse
Quadplex
Single-family investment properties
Distressed Properties
Retail
Duplex
Mixed-use
Condominiums
Apartments
Small office buildings
Triplex
Why Choose a Hard Money Loan in Fort Lauderdale?
Quick Financing
Hard money lenders can finalize transactions, offering fast funding to individuals in immediate financial need. By using efficient methods, they provide a quick option compared to traditional loans.
Less Stringent Requirements
These lenders have less strict requirements compared to traditional lenders, making them easier to access for individuals with poor credit scores. This option of flexibility enables a larger number of individuals to obtain the necessary hard money loan for different projects just by mortgage property.
Flexible Terms
Numerous hard money lenders offer personalized loan terms, giving you the flexibility to customize the agreement to meet your requirements. This flexibility helps make sure that your funding matches your specific objectives and situations.
Low Credit Score
WCM Commercial understands that temporary credit score declines are a natural part of life. We mainly concentrate on the value of the property, rather than the applicant’s FICO score or debt-to-income ratios, when reviewing loan applications.
Need quick and flexible financing?
Don’t let funding hold you back, find out how our hard money loans can fast-track your investment goals!
Common Uses for Hard Money Loans:
Real Estate Investment
Real estate market investors frequently opt for hard money loans to acquire properties, especially in cases where time is crucial or when the property requires immediate renovations before being sold.
Fix-and-Flip Projects
This fix and flip loan is commonly used for brief projects where investors purchase, resell, fix, and flip properties swiftly to make a profit.
Bridge Financing
Hard money loans are used as bridge loans until permanent funding is secured or a property is sold.
Construction Loans
Builders use hard money loans from private money lenders to finance new construction projects, particularly when traditional loans are slow to process.
Land Loans
Acquiring raw land may pose challenges with traditional bank loans, but hard money lenders in West Palm Beach frequently offer financing for these purchases.
Cash-Out Refinancing
Property owners have the option to utilize loan amounts to access the equity in their property for financing other investments or expenses.
Ready to explore your financing options?
Contact a hard money lender in West Palm Beach today to discuss how they can assist you in achieving real estate investor goals!
Why Choose the Working Capital Marketplace for Hard Money Loans?
At the Working Capital Marketplace, we take pride in our ability to support businesses with reliable hard money loans. Our clients’ contentment is evident with a 4.9-star Google rating and funding for over 1,000 companies. Our team has over 30 years of combined industry experience, guaranteeing that you receive the necessary expertise.
Moreover, thanks to our efficient procedure, you can receive approval in nearly every city of Florida from Miami, Fort Lauderdalem West Palm Beach, to all of South Florida, Central Florida, and North Florida to have real estate investment opportunities. We prioritize sustainable solutions that are tailored to your needs, leading you through a smooth completion process to ensure your business continues to progress effectively.
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FAQ’s
What are 3 points on a hard money loan?
When a lender quotes you 3-point on the loan, they charge 3% of your total loan value. For example, if you have applied for $100,000 in loan amount, a charge of $3,000 is 3 points to your hard money loan. This fee system based on a percentage is common in numerous loan contracts and has a direct effect on the total loan expense. Such points can be negotiable and can vary on a deal-by-deal basis.
What Documents do I Require for a Hard Money Loan?
When seeking a hard money loan program, you must present a resume or experience, specifics about the property, identification, and a loan application. These papers assist lenders in assessing the worth of the property you wish to finance and in evaluating your capacity to repay the loan. Having all these documents prepared in advance can hasten the approval process and simplify the task for lenders to make well-informed decisions.
How long is the average hard money loan?
Hard money loan durations are generally brief, typically ranging from 1 to 3 years. Lenders expect this kind of funding to be a bridge, until more permanent debt is secured (which we can also assist with) or you sell the asset.
What credit score do you need for a hard money loan?
Usually, a minimum credit score of 550 or higher is required to qualify for a hard money loan. However, at Working Capital Marketplace, we offer loans to every credit score, to know more contact us today!
Can foreign nationals apply for hard money loans?
Yes, individuals from other countries are eligible to apply for hard money loans. Numerous lenders provide specialized programs designed for foreign investors seeking to fund real estate in the United States. These loans usually prioritize the value of the property over the borrower’s credit score, making it simpler for foreign citizens to meet the requirements. Nevertheless, the criteria and documentation required may differ depending on the lender, thus international applicants need to verify with the lender regarding their specific requirements.