Hard Equity Financing Courtesy of
Milo Commercial Lending, Inc.
440 South Federal Highway
Deerfield Beach, FL 33441

Hard money loans are available for investors who buy property to fix up and rent or flip.  They are short-term, quick-close loans perfect for the real estate investor.

A sample hard money loan may calculate as follows:

If you borrow $100,000, you would pay $4,000 in original points (4 points) at closing, with a monthly payment of $916.67, based on a rate of 11% interest-only, ($100K x 4% = points, and $100K x 11%/12 months = payment).  Loans are 12 month terms - one year.  You must either sell, refinance or payoff the property within the term of the loan, or negotiate an extension with the lender.

Loans are typically based on 65% LTV (loan to value), which means if you purchase a property with an after-repair value of $100,000, you may borrow up to $65,000.  Loans cannot exceed 90% of the purchase price, regardless of after-repair value.

Loans are for investors only - borrowers will sign an affidavit at closing stating that they do not live in the property and do not intend to occupy the property.   Title must be taken in a corporation, LLC or land trust.

Qualifying is relatively easy and much of the weight of the approval is based on the property.  Investors should be able to show down payment, carrying and renovation capital in the bank.

To see if you qualify for funding, please complete the mini-application below, or call 561-429-6501.

I Need a Hard Money Loan

Please complete the mini-application below to obtain pre-approval for a loan to purchase or refinance real property located in Florida. You do NOT intend to occupy the property as your primary residence and acknowledge that the loan is an interest-only loan with a one-year term.