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Hard Money Lenders Jacksonville

Hard money lending is a common practice in the real estate market. Also known as a private money loan, this financial option is ideal for investors seeking to acquire real estate without paying substantial upfront fees. Monroe Funding is pleased to provide hard money loans in Jacksonville and throughout Florida for commercial properties, rental properties and other real estate investment projects.

Private money loans differ from commercial loans in an important way: Hard money lending doesn’t rely on credit scores when assessing repayment ability, unlike commercial loans. Instead, direct lenders rely on the investment’s valuation when deciding whether to lend or not.

Why Opt for Hard Money Financing?

Hard money financing is attractive to many real estate investors due to its flexibility and convenience. Many real estate investors turn to hard money lenders because of their streamlined lending process, which provides funds much faster than dealing with banks and mortgage institutions. 

More importantly, you can still get favorable lending terms with direct lenders even with a bad credit score. Rather than relying on personal qualifying criteria like credit score, hard money financiers use the property’s value and its potential cashflows when making financing decisions. 

Why Choose Monroe Funding Corp?

We are a trusted direct mortgage lending institution with a large service area in Florida, including the Jacksonville area. Monroe Funding offers flexible borrowing terms and extensive loan products to match the exact needs of our clients. We provide a fast and convenient way of assessing real estate financing that doesn’t involve credit score assessments. We don’t charge origination fees or demand upfront payments from clients.

In most cases, we process clients’ funding applications in a week to ensure they don’t fall behind on project objectives. Our dedicated investor services help investors in all phases of the property acquisition process, including the bidding and proof of fund documents. 

What Can Hard Money Financing Options Be Used For?

You can use our private money financing for commercial investment properties that may include apartment buildings or single-family units. Below is a listing of the hard money financing options we offer our clients:

  • Commercial loans 
  • Bridge loans
  • Project rehabilitation financing
  • Home flipping financing

Benefits of a Hard Money Loan

Hard money lending offers many benefits to investors.

  • Easy access to funding: Investors don’t have to endure lengthy initiation and approval procedures common in traditional bank and mortgage lending. With institutional lenders, investors can wait months before accessing funds; however, funding is made available within a week or two with hard money lenders. 
  • Collateral requirements: Hard money lending offers convenient collateral requirements to investors. The subject property or investment serves as the loan’s security. Some direct lenders may allow even more flexible collateral agreements that include personal assets. 
  • No upfront/origination fees: Investors turn to hard money borrowing due to the lack of origination fees and upfront costs. This provision significantly streamlines access to funds. 

How the Hard Money Lending Process Works

With a private money loan, the capital is made available by individual lenders or lending entities that rely on the property as security. 

Banks and mortgage lending institutions require proof of the lenders repaying ability and will often review credit ratings and quality of cash flows when assessing creditworthiness. High credit scores and diversified income streams get you better borrowing terms. 

Hard money lenders use the loan-to-value (LTV) criteria when assessing the financial soundness of a project. If the borrower cannot repay the loan, hard money lenders can recover their money by liquidating the property.

If you’re interested in getting a hard money loan in Jacksonville, FL for an investment property, contact Monroe Funding. As a private money lender, we make it easier to access the money you need without the red tape and lengthy delays of a conventional mortgage. Call today to get started.

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