Hard money lenders Orlando FL
Number of Loans
Approval withing 24-48 hours, average closing within 7-12 days.
No Prepayment Penalty
There are no penalties for paying off or partially amortizing the debt at any time.
Low rates, Low payments
Competitive rates and flexible programs with interest only payment until maturity.
Including borrowers with no credit history, new businesses and foreign nationals.
What is a Hard Money Loan?
Hard money loans are essentially short-term loans, secured by a tangible asset. Many real estate investors consider them a good alternative to traditional lending for a variety of reasons, with the most important being the ease and speed of the transaction. Due to the competitive nature of the real estate investment industry, the ability to close quickly is a huge advantage for an investor vying for a hot property. Smart investors know that presenting an all-cash offer to a seller can increase the likelihood of securing the deal.
Additionally, hard money lenders are a practical solution for borrowers when conventional banks turn them down. Investors who lack sufficient liquid assets or have questionable or no credit history can borrow against the physical property and not their personal financial assessment. Having the loan backed by the real estate or “hard asset” considerably reduces the risk to the lender. Furthermore, new investors without a successful track record of rehabbing are more likely to get funding with a private real estate loan.
These loans typically range from 6 to 24 months and normally have a fixed rate, while points and closing costs might vary.
How to get Hard Money Loan in Orlando
Orlando Hard Money Loan Programs
Bridge loans are short-term loans, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing.
Fix and Flip Loans
Fix-and-flip loans are short-term loans used by real estate investors to purchase and improve a property to then sell for a profit or refinance.
New construction loans are short-term loans used to finance the building or renovation of a home or real estate project.
Rental Loans are a financing option for investors looking for a long-term solution, at an attractive rate.
Land Loans are short-term loans collateralized by land. Investors looking for construction loans.
Commercial Bridge loans are short-term loans, typically taken out for a period of 2 weeks to 3 years.
How is RBI Mortgages different from other Private Money Lenders in Orlando, FL?
Best known for its numerous theme parks and flourishing tourism industry, Orlando, Florida offers great opportunities for real estate investors. While Orlando is the 4th largest city in Florida, it ranks fifth in top areas to invest in the United States. Last year, Orlando home values increased 7.1% and are expected to remain strong with the latest forecast predicting a 10.1% increase in 2021.
Orlando’s booming economy and increased population growth also makes it one of the top Florida cities to purchase rental properties.
RBI Mortgages knows the Greater Orlando real estate market and offers the best solutions for foreign and/or local borrowers looking for cash and/or a fast closing. When comparing loan rates, RBI Mortgages has some of the most competitive rates in Orlando. New and experienced investors will discover we understand the lending market and are committed to offering the highest level of customer service.
Why Use Fix and Flip Loans ?
Fix-and-flip loans are designed to cover the entire cost of a rehab project. Investors should have a strong grasp on the numbers before shopping for a loan. Compiling the purchase price, renovation costs, and after repair value (ARV) of the asset helps to determine the loan-to-value (LTV), or the amount required for down payment, mortgage rates, and risk to the lender. Generally, lenders base the loan amount on an LTV at or around 65% of the appraised property value. If the “hard asset” or property is valued at around $200k, the loan offered might be in the $130k to $145k range.
Real estate investors should look closely at the cost-to capital, evaluate points, percentages, and closing costs to determine the profit margin and whether a lender’s terms will conform to the rest of the deal. Will there be enough margin to make the deal work? Is the loan consistent with the investment deal? Even the most experienced investors consistently shop around for lenders and loan options, always looking for a great referral.
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What Clients Say
I was seeking advice for a second investment property and could not be any happier to find RBI mortgages and the help of Ricardo Rodriguez! Great honest team with timely response. I will surely do business with you in the future.
I looked for RBI Mortage by emergency and they helped me to get out of my predicament in 2 weeks, I was surprised by your speed in all areas . Thank you RBI for helping us maintain this property.
Thank you to RBI for giving us solutions for all our clients, this company provides an amazing service for private lending. I highly recommend them to work as your lender on any deal.
Excellent company. Two of my buyer costumers have obtained their home loans with them, and we’ve had a fast closing, and great costumer service. Yael answers our questions promptly and is always available for help.
Jose Bruno Padilla
I had a 10 day closing and with RBI Mortgages I had an approval in less than 24 hours and with better conditions. I recommend them personally. Thanks Alejandro for all your help.
Do you make personal loans?
We do not make personal loans, only for real estate investment.
What kind of real estate loans do you make?
RBI finances real estate investments, both the purchase of properties for rent or second residence, as well as renovations for subsequent resale. We also finance the real estate development
What is the interest rate and loan term?
Usually, loan rates are 9% and 1.75% points. Loan terms are 12-36 months
What is the loan type?
Most our loans are interest only, which means a fixed interest is paid throughout the term and full balance at maturity. For example, a $100,000 with 12 months term and 9% rate will yield 12 monthly payments of $750 and a final payment of $100,000
What happens if I sell the property or prepay the loan before maturity?
In most of our loans there is no prepayment penalty.