Florida Hard Money Condo Refinance/Equity Loan

Florida condo owners have had much turmoil over the last three years dealing with the upgrades by the state of Florida on their condos. Hurricanes and high association costs increase because the condo association can't cover their fees.

Many Florida condo and townhome owners do not have good credit, and they need to pull cash out of their condos for many reasons.

What is a Florida Condo Hard and Private Money Refinance/Equity Loan?

A condo hard money refinance is a loan where the borrower has equity in their condo and wants to leverage that equity since they have bad credit to pull cash out of their condo or townhome. Our private money investors will secure a 1st deed mortgage loan just like a bank on that property for the specific loan amount. 

How Do I Get a Florida Condo Loan with Bad Credit?

Even if you have been turned down by the banks and credit unions, we have a network of private investors who bring us money. They are seeking Florida homeowners and condo owners who own, condos free and clear, paid off, zero mortgage who want to secure the equity on the condo using it as collateral. 

• You will fill out an application
• One of our hard money loan officers will call you
• One of our investors will come to your property and inspect the property directly. You get to meet your lender many times. 
• Once that process is done, the underwriter processor will order your title and appraisal. You might submit a few extra documents as well. 
• Then the title will come back. One important document will be the condo association. A lot of borrowers on condo use because they or behind on the condo association fees. This must be brought current on all loans. We can pay this in the loan. 

Our investors typically lender 50 to 60% of the value of the condo with varying terms. You will pay the private lender directly. A private money mortgage promissory note will be filed and you will have a 1st mortgage not on your property. You will not make your 1st mortgage payment for 40 days. The condo hard money loan process is fast, easy, and simple, and we have closed thousands of Florida condo loans. It doesn't matter if you own a Florida condo in Ft. Myers, Miami, Destin, Ft. Lauderdale, or West Palm Beach. 

Our underwriters have streamlined the condo hard money loan to make it stress-free for the borrower. They will guide you and answer all your questions and if your title is clear you will close in 7 to 10 days.