Hard Money Loan Florida
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Last updated: April 9, 2025
At OfferMarket, we’re on a mission to help you grow your wealth through real estate investment in Florida. Whether you're flipping a bungalow in Tampa, rehabbing a duplex in Jacksonville, or refinancing a 4-unit in Miami, we’ve built a powerful all-in-one platform tailored to help Florida investors like you thrive:
💰 Private lending
☂️ Competitive insurance rate comparison
🏚️ Exclusive access to off-market properties
Our Hard Money Loan program is crafted for real estate investors across the Sunshine State seeking fast, trustworthy, and affordable financing to purchase, renovate, or refinance 1-4 unit residential investment properties.
Whether you plan to renovate and rent long-term or flip and reinvest, OfferMarket wants to partner with you on your next Florida investment.
Let’s dive into the OfferMarket Hard Money Loan Program!
What is a hard money loan?
A hard money loan is a short-term real estate loan backed by the property itself — typically a 1-4 unit residential property. These loans are ideal for purchasing, refinancing, or renovating properties to either sell for a gain or add to your Florida rental portfolio.
In Florida, these are often called “fix and flip loans” or “bridge loans.” Whether you’re restoring a Gulf Coast fixer-upper or tackling a major rehab in Orlando, these flexible loans help you stay liquid and move quickly in a competitive market.
Hard money loan scenarios in Florida
Hard money loans are highly versatile. Here’s how Florida real estate investors typically use them:
Purchase & rehab: Acquire distressed or outdated properties in cities like Fort Lauderdale or Tallahassee with funds for both acquisition and renovation.
Cash-out refinance post-purchase: For fast-cash deals (common in hot markets like Tampa Bay), refinance your all-cash purchase and fund your rehab.
Refinance existing loan for rehab: Still renovating but your private lender wants repayment? Refinance to finish the project without stress.
Purchase without rehab: Buy below-market properties in areas like Pensacola and flip “as is.”
Refinance without rehab: Need liquidity from a cash purchase or completed rehab in West Palm Beach? Tap into your equity.
Refi existing loan, no rehab: Already done with repairs? Refinance and hold until market timing improves.
How hard money loans work
Every Florida hard money loan through OfferMarket consists of two main parts:
Initial Advance: Covers a portion of your purchase price — wired to your title company.
Construction Holdback: Funds your renovation and is disbursed via draw reimbursement after verified progress.
These components can be used together or independently. For example:
Some Florida investors prefer just an initial advance if they’re using their own funds for improvements.
Others skip the initial advance and opt for a construction holdback only to fund their renovations.
Cash buyers may request just the construction holdback to fund 100% of their rehab.
You’re free to choose the structure that best fits your exit strategy — whether flipping for profit or refinancing into a DSCR loan for long-term rental income.
Your hard money exit plan doesn’t need to be set in stone. Many Florida investors shift between flipping and holding depending on changing market conditions.
For instance:
You might start with a BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat) in Gainesville — but decide to sell after rehab because resale prices are climbing.
Conversely, a planned flip in Sarasota could become a hold if the market cools. You could refinance into a DSCR loan, enjoy some rental income, and wait for a seller's market.
Our Florida-based investors often focus on deals that support both strategies to protect against uncertainty and maximize profit potential.
Who’s using Florida hard money loans?
Our Florida borrowers are a diverse group of active investors:
Fix and flip investors rehabbing homes in metro areas like Orlando and Miami
Buy and hold investors executing the BRRRR method statewide — from Jacksonville to Naples
Many of our clients combine both strategies to fit each property’s potential. It’s common to rent one house in Tampa while flipping another in Fort Myers — it all comes down to the numbers and your flexibility.
Florida Hard Money Loan Program Guidelines
Whether you’re renovating a historic property in St. Augustine or flipping a duplex in Tampa Heights, our program guidelines are built to meet the needs of Florida’s fast-moving, diverse real estate market.
| Criteria | Guideline |
|---|---|
| Loan amount (minimum) | $25,000 |
| Loan amount (maximum) | $2,000,000 |
| ARV (minimum) | $100,000 |
| Experience | Not required |
| Credit score (minimum) | 680 |
| Borrowing entity | LLC or Corporation |
| Initial advance | Up to 90% |
| Construction holdback | Up to 100% |
| LTARV (maximum) | 75% |
| Interest rate | Get instant quote |
| Origination fee | 1.5 to 2 points |
| Term | 12 to 24 months |
| Points out | None |
| Prepayment penalty | None |
| Structure | Interest-only with balloon payment |
| Recourse | Full (51% of borrowing entity must guarantee) |
| Exit strategy: Sale | Minimum 30% ROI |
| Exit strategy: Refinance | Minimum 1.1 DSCR after repairs |
| Valuation | Appraisal or In-house valuation |
| SqFt (minimum) | Single family: 700+ |
| 2–4 unit: 500+ per unit | |
| Condo: 500+ | |
| Acreage (maximum) | 5 |
| Interest accrual | < $100K loan: full boat $100K+ loan: as disbursed |
| Advanced draws | Lender discretion |
| Down payment (minimum) | $10,000 |
Project Eligibility
Florida’s real estate market is dynamic — from luxury rehabs in Coral Gables to affordable flips in Ocala. That’s why we prioritize risk management while helping you scale.
We’re proud to say that less than 0.5% of our loans across the country have ever defaulted or gone to foreclosure. We want you to succeed, and we lend with that mission in mind.
We caution against first-time investors jumping into high-risk projects — particularly “heavy” or “extensive” rehabs. These carry the highest risk of delays, cost overruns, and exposure to economic headwinds — even in markets like South Florida with strong appreciation.
We are your partner — not just a lender. Our role is to act as your risk advisor, capital source, and project guide.
Initial Advance
Your initial advance is calculated based on your experience, the deal structure, and the property’s characteristics. Florida-specific factors like hurricane zones, flood zones, or coastal property values may also impact underwriting.
Here’s what we consider:
Investment properties owned in the last 24 months
Number of similar rehab projects completed in the last 5 years
Minimum credit score: 680 (preferred: 720+)
Realtors, General Contractors, and Licensed Engineers may qualify for increased leverage
If the purchase price exceeds the As Is value (via appraisal or in-house valuation), we base the loan on the As Is value, not your contract price.
Your exit strategy impacts the initial advance:
If selling, you must show 30% gross margin and at least $15,000 projected profit.
If refinancing, the DSCR after repairs must be 1.1 or greater.
Florida rural properties (designated rural by USDA) require more experience and may have lower leverage limits.
Experience-Based Tiers
| Tier | Verifiable Experience |
|---|---|
| 1 | 0 |
| 2 | 1 to 2 completed projects |
| 3 | 3 to 4 completed projects |
| 4 | 5 to 9 completed projects |
| 5 | 10+ completed projects |
Initial Advance by Tier
| Tier | Initial Advance (% of purchase price) |
|---|---|
| 1 | 80% (*up to 85% with exception) |
| 2 | 85% |
| 3 | 85% |
| 4 | 90% |
| 5 | 90% |
Adjustments to Initial Advance
We apply the following adjustments to tailor the loan to your unique risk profile:
| Scenario | Adjustment |
|---|---|
| Credit score < 720 | -5% |
| Full gut rehab | -5% |
| New market | -5% |
| Licensed Realtor | up to +5% |
| Licensed General Contractor | up to +10% |
| Licensed Professional Engineer | up to +10% |
| Rural property in Florida | -20% (3+ experience) |
Rehab Scope Classification
When planning your project in Florida, we categorize the rehab budget based on its scale relative to your property’s purchase price. This classification helps ensure we match our loan terms to your execution risk, whether you're doing cosmetic updates in Clearwater or an addition in Cape Coral.
| Rehab Scope | Definition |
|---|---|
| Light | Rehab budget is < 25% of purchase price |
| Moderate | Rehab budget is 25% to 49.99% of purchase price |
| Heavy | Rehab budget is 50% to 99.99% of purchase price |
| Extensive | Rehab budget exceeds 100% of purchase price |
⚠️ Note: A “lopsided deal” — where the rehab budget exceeds the purchase price — falls under the “Extensive” category and requires tighter controls and caps. This often occurs in deeply distressed areas or rural zones in Central or North Florida.
Rehab scope Eligibility
Your ability to take on certain types of rehab projects in Florida is linked to your level of experience. Investors in early tiers are better suited for cosmetic flips or light rehabs in fast-moving Florida markets like Orlando or Fort Lauderdale.
| Tier | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Experience | 0 | 1-2 | 3-4 | 5-9 | 10+ |
| Light | Eligible | Eligible | Eligible | Eligible | Eligible |
| Moderate | Ineligible | Eligible | Eligible | Eligible | Eligible |
| Heavy | Ineligible | Eligible | Eligible | Eligible | Eligible |
| Extensive | Ineligible | Ineligible | Eligible | Eligible | Eligible |
LTARV Limits
Your Florida hard money loan's maximum loan-to-after-repair value (LTARV) is also tied to experience and rehab scope. This limit protects your project and your capital in case market conditions shift — a real concern in areas like Southwest Florida with seasonal demand swings.
| Tier | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Experience | 0 | 1-2 | 3-4 | 5-9 | 10+ |
| Light | 70% | 70% | 75% | 75% | 75% |
| Moderate | Ineligible | 70% | 75% | 75%< | 75% |
| Heavy | Ineligible | 70% | 75% | 75%< | 75% |
| Extensive | Ineligible | Ineligible | 70% | 70% | 70% |
LTFC Limits
In some Florida deals, especially in low-cost neighborhoods where rehab budgets eclipse purchase prices, the Loan-To-Full-Cost (LTFC) ratio applies. Here's how we cap lending based on your experience level.
| Tier | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Experience | 0 | 1-2 | 3-4 | 5-9 | 10+ |
| Light | N/A | N/A | N/A | N/A | N/A |
| Moderate | Ineligible | N/A | N/A | N/A< | N/A |
| Heavy | Ineligible | N/A | N/A | N/A< | N/A |
| Extensive | Ineligible | Ineligible | 85% | 90% | 90% |
Example: No Experience
Here’s what a first-time Florida investor’s deal might look like — maybe in an emerging area like Lakeland or Ocala:
| Purchase price: | $100,000 |
|---|---|
| Tier: | 1 (0 similar verifiable experience) |
| Credit score: | 695 |
| Rehab budget: | $24,000 |
| ARV: | $150,000 |
| Initial advance: | $75,000 (75%) |
| Construction holdback: | $24,000 |
| Total loan amount: | $99,000 |
| LTARV: | 66% |
| LTFC: | 79.8% |
| Interest accrual: | Full boat |
Example: No Experience, Excellent Credit
If you’re a Florida borrower with no experience but great credit and strong liquidity, you can qualify for more favorable leverage — even in competitive markets like Orlando or Tampa.
| Purchase price: | $100,000 |
|---|---|
| Tier: | 1 (0 similar verifiable experience) |
| Credit score: | 750 |
| Rehab budget: | $24,000 |
| ARV: | $150,000 |
| Initial advance: | $80,000 (80%) |
| Construction holdback: | $24,000 |
| Total loan amount: | $104,000 |
| LTARV: | 69.33% |
| LTFC: | 83.9% |
| Interest accrual: | As disbursed |
Example: 5 Experience
Experienced Florida investors flipping in high-value areas like Boca Raton or Naples typically enjoy top-tier leverage.
| Purchase price: | $100,000 |
|---|---|
| Tier: | 4 (5 similar verifiable experience) |
| Credit score: | 750 |
| Rehab budget: | $20,000 |
| ARV: | $150,000 |
| Initial advance: | $90,000 (90%) |
| Construction holdback: | $20,000 |
| Total loan amount: | $110,000 |
| LTARV: | 73.33% |
| LTFC: | 91.67% |
| Interest accrual: | As disbursed |
Refinance using As Is value instead of Cost Basis for Initial Advance
In some Florida refinance scenarios, the property’s As Is value may be higher than what you paid or put into it — especially true in fast-appreciating areas like St. Pete or Fort Lauderdale. In those cases, we may approve the initial advance based on As Is value rather than your cost basis, if certain conditions are met:
Property condition: Must be habitable (C4 or better)
Seasoning: Must have been held for at least 3 years
Credit score: 680+
Experience tier: 3 or higher (4+ completed projects)
Value support: Strong comps showing higher market value
Supportive narrative: For example, it was a rental that’s now being repositioned for resale
Transactions involving wholesalers, price run-ups
Wholesaler deals are common in Florida — especially in places like Miami-Dade or Hillsborough County. If you’re buying from a wholesaler or via a double close, we can finance up to 20% of the assignment markup — with these rules:
| Example |
|---|
| A-B Contract (original owner of record and wholesaler): $100,000 |
| B-C Contract (assignment fee): $25,000 |
| As Is Value: $125,000 |
| Value basis for initial advance: $120,000 |
Wholesaler transaction guidelines:
OfferMarket can include the assignment fee or double-close price run-up in your cost basis for your initial advance, up to 20% of A-B purchase price
May not finance the markup if the property was listed on the MLS
Must provide full chain of contracts (A-B, B-C) and the wholesaler’s operating agreement
We do not finance finders or referral fees
Must be an arm’s length transaction
Construction Holdback
Your hard money loan in Florida includes an optional construction holdback — a powerful tool whether you're updating a condo in Miami or renovating a single-family rental in Cape Coral. This part of your loan is distributed through draw reimbursements after you show verified progress against your approved rehab scope.
If you're funding your own rehab and don’t need this component, you can opt out. If your total loan amount is over $100,000, interest won’t accrue on undrawn construction funds — helping you preserve your liquidity.
| Draw Processing Guideline | |
|---|---|
| Minimum draw amount | None |
| Maximum draw amount | 100% of remaining construction holdback |
| Minimum number of draws | 0 |
| Maximum number of draws | None |
| Materials delivered but not installed | 50% (receipt or invoice required) |
| Draw inspection | App-based (self-serve) |
| Draw turnaround | 0 to 2 business days |
| Draw fee | $270 |
| Wire fee | $30 |
Appraisal and In-house valuation
We require a valuation for every hard money loan in Florida. Depending on the deal and your borrower profile, that may be a third-party appraisal or our internal valuation team.
In-house valuation
This option is reserved for experienced investors with strong credit, and it’s available for projects across the state — excluding rural Florida areas and new markets.
| Criteria | Eligibility requirement |
|---|---|
| Property type | Single family, Duplex, Triplex, Quadplex |
| Tier | 4 or higher |
| Credit score | 720+ |
| Rural | No |
| New market | No |
| LTARV | 70% maximum |
Note: We may still require a formal appraisal even if you qualify for in-house valuation.
Exterior appraisal
Exterior-only appraisals are accepted for properties acquired through distressed or auction channels — including sheriff’s sales or REOs, which are not uncommon in Florida.
| Acceptable Scenarios |
|---|
| REO sale |
| Foreclosure auction |
| Sheriff’s sale |
| Online auction |
| Bankruptcy sale |
Appraisal must be dated within 120 days of your settlement date. If it’s between 120–179 days, a recertification is required.
Interior appraisal
All other scenarios require a full interior appraisal, particularly for traditional fix and flip deals in metro markets like Tampa, Orlando, and Jacksonville.
| Property type | Appraisal forms |
|---|---|
| Single family | 1004 + 1007 ARV with As Is value included (non-gridded) |
| 2-4 Unit | 1025 + 216 ARV with As Is value included (non-gridded) |
| Condo | 1073 + 1007 ARV with As Is value included (non-gridded) |
Appraisal Transfer
If you’ve already ordered an appraisal for your Florida project, we can transfer it to OfferMarket as long as these requirements are met:
Ordered via approved Appraisal Management Company (AMC)
Not more than 180 days old at closing
Recertification required if 120–179 days old
The transferring lender must provide:
Signed transfer letter with AIR compliance statement
PDF and XML versions of the appraisal
Paid invoice
Scenario: Stabilized Hard Money Loan
For Florida properties in solid condition — no deferred maintenance, strong structure, and clean interiors — we may qualify the deal as stabilized, appraising based on the As Is value. Think turnkey townhomes in Tampa or solid single-family homes in Jacksonville that are ready for tenants or resale.
| Criteria | Guideline |
|---|---|
| LTV (maximum) | Tier 1: 70% Tier 2: 70% Tier 3: 75% Tier 4: 75% Tier 5: 75% |
| LTFC (maximum) | Tier 1: 80% Tier 2: 80% Tier 3: 90% Tier 4: 90% Tier 5: 90% |
| Appraisal condition rating | C1, C2, C3 or C4 |
| Loan Term (maximum) | 12 months |
Key Loan Details
| Criteria | Details |
|---|---|
| Loan Amount | $25,000 to $2,000,000* |
| Units per Property | 1 – 4 |
| Eligible Property Types | Non-owner occupied 1‑4 unit residential Single family residences, 2‑4 unit multifamily Condominiums, Townhomes, Planned Unit Developments |
| Property Minimum Size | Single Family: ≥700 SQFT Condo and 2‑4 Unit: ≥500 SQFT per unit |
| Max acreage | 5 acres |
| Loan to Cost (LTC) | Up to 90% purchase, 100% rehab |
| Loan to ARV (LTARV) | Up to 75% |
| Down Payment | Minimum $10,000 for purchase price under $100K |
| Loan Term | 12 months standard; 18-24 months available for specific projects |
| Extensions | up to 50% of original term (fee applies) |
| Points | 1.5 to 2 points ($2,000 minimum) |
| Prepayment Penalty | None. There is no minimum interest earned. |
| Occupancy | Non-owner occupied – business purpose only |
| Transaction types | Arms-length purchase, refinance |
| Geographic Region | All US states except AK, AZ, HI, MN, ND, NV, OR, SD, UT, VT |
| Amortization | Interest-only with balloon payment at maturity |
| Interest Accrual Method | Loan Amount < $100K: interest charged on total loan amount ("Full Boat") Loan Amount ≥ $100K: interest charged on funds disbursed ("As Disbursed") |
Extensions
Extending a Florida hard money loan is not ideal and should be treated as a contingency, not a strategy. Whether it’s permitting delays in Miami-Dade or contractor issues in Orlando, we recommend controlling risk to avoid extension fees and added interest.
Extension Limits
| Initial Loan Term | Max Extension |
|---|---|
| 12 months | 6 months |
| 18 months | 9 months |
| 24 months | 12 months |
Extension Terms and Fees
| Extension Term | Fee |
|---|---|
| 3 months (1st request) | 1% of the total loan amount |
| 3 months (2nd request) | 1.5% of the total loan amount |
| 6 months (1st request) | 2.5% of the total loan amount |
| Item | Requirements / Eligibility |
|---|---|
| Borrowing Entities | Limited Liability Company (LLC) or Corporation; nonprofits are not eligible. |
| Eligible Borrowers | US Citizens, US Permanent Residents, and qualified Foreign Nationals |
| Foreign Nationals | Valid Passport Valid US Visa (excludes Travel/Student Visas if not on Visa Waiver Program) US FICO score required if serving as Guarantor |
Extension Prerequisites
Before extending, make sure your builder’s risk insurance covers the new loan duration. Without active coverage, your extension won’t be approved.
Ineligible Property Types
We love Florida real estate — but some property types are excluded from this program due to risk or complexity:
Mixed use
5+ unit multifamily
Condotels
Co-ops
Mobile/manufactured housing
Commercial properties
Cabins/Log homes
Properties with oil/gas leases
Operating farms, ranches, orchards
Vacation/seasonal rentals
Unique/exotic/luxury properties
Unpaved or dirt roads
Exception scenarios
| Scenario |
|---|
| 660 - 679 guarantor credit score |
| Leasehold (ground rent) |
| Single family property 500 to 699 SqFt |
| 2-4 unit property with one or more unit 400 to 499 SqFt |
| Funding initial advance based on As Is value that is higher than Cost Basis |
| Non-arms length transactions |
| Financed interest payments |
Borrower and Guarantor Requirements
| Item | Requirements / Eligibility |
|---|---|
| Borrowing Entities | Limited Liability Company (LLC) or Corporation; nonprofits are not eligible. |
| Eligible Borrowers | US Citizens, US Permanent Residents, and qualified Foreign Nationals |
| Foreign Nationals | Valid Passport Valid US Visa (excludes Travel/Student Visas if not on Visa Waiver Program) US FICO score required if serving as Guarantor |
Liquidity verification
To ensure a safe amount of liquidity, we verify that the guarantor(s) have a minimum of estimated cash to close + 25% of your rehab budget in liquid assets controlled by one or more guarantor.
| Credit Requirements |
|---|
| Minimum 680 FICO (exceptions between 660-679) |
| Tri-Merge Credit Report (not older than 120 days) |
| Additional interest reserve requirements if fewer than 5 tradelines |
Important information:
You do not need to have a business bank account, though this is recommended as a best practice for accounting and risk management.
Aside from the cash due from borrower (cash to close) which will be confirmed on your settlement statement and wired by you to the title company or real estate attorney facilitating the closing, you do not need to move funds from your verified accounts.
Credit Requirements
| Credit Requirements |
|---|
| Minimum 680 FICO (exceptions between 660-679) |
| Tri-Merge Credit Report (not older than 120 days) |
| Additional interest reserve requirements if fewer than 5 tradelines |
Liquidity Requirements
We want to ensure you can comfortably handle rehab costs and surprises — especially for Florida properties in coastal zones or storm-prone counties.
| Liquidity Requirements |
|---|
| Minimum of estimated cash to close + 25% rehab budget among guarantor(s) |
| Eligible liquid assets: bank account (personal or business), brokerage account, retirement account (50% haircut) |
| Verification: 2 most recent statements, no seasoning required for new accounts, LOE for large deposits |
Guaranty Structure
| Guaranty Structure |
|---|
| Purchase: at least 51% of the borrowing entity must guarantee |
| Cash out refinance: 100% of the borrowing entity must guarantee |
| Full Recourse required |
| Aggregate guarantor net worth must be at least 50% of loan amount |
Credit and Background Items
| Credit and Background Items |
|---|
| If 3 credit scores are returned on trimerge report, we use the middle score (2nd highest). |
| If 2 credit scores are returned on trimerge report, we use the lowest score. |
| If no mortgage tradelines, we require 6 months of interest reserves. |
| If < 5 tradelines, we require 6 months of interest reserves. |
| If bankruptcy: discharge must be > 4 years from settlement date. |
| If foreclosure: completion must be > 4 years from settlement date. |
| If bankruptcy/foreclosure 4–7 years ago: minimum 3 months of interest reserves. |
| Late mortgage payments in past 12 months: LOE required; subject to review. |
| Past due tradelines must be paid before funding. |
| Involuntary liens/judgements must be resolved prior to funding. |
| Pending lawsuits (civil/criminal): subject to review; some are not eligible. |
Interest Reserves
| Interest Reserve | Scenario |
|---|---|
| 0 month | lender discretion |
| 1 month | guarantor FICO 700+ |
| 3 months | guarantor FICO of 660 - 699 |
| 6 months | guarantor FICO of 660 - 699 AND/OR concerning item on credit or background report |
Financed Interest Payments
Florida investors with limited liquidity may qualify for financed interest payments, allowing them to defer monthly interest payments and improve project cash flow.
| Example |
|---|
| Total loan amount: $100,000 |
| Interest rate: 12% |
| Months held to payoff: 9 |
| Accrued interest: $9,000 ($100,000 × 12% ÷ 12 months × 9 months) |
| Payoff statement: Unpaid principal balance: $100,000 Unpaid interest: $9,000 |
Property Sourcing Guidelines
Whether you’re sourcing off-market properties in Jacksonville or eyeing auction opportunities in Broward County, these are the documentation and review protocols we require for funding.
| Key Points: |
|---|
| New market transactions require a General Contractor agreement or Letter of Explanation for why a GC is not required. |
| Properties with previous sale price increases, wholesale deals, and non‑arms length transactions require additional documentation and review. |
| For condos, conversions, and projects requiring significant renovation, architect or engineer letters (or permits) are required. |
| All submissions should include purchase contracts, settlement statements, payoff letters (if applicable), track record, and necessary formation documents. |
Insurance Guidelines for Hard Money Loans
In Florida, where hurricanes and heavy rainfall are seasonal risks, having the right insurance coverage is not just a requirement — it’s smart business. We require Builder’s Risk or Fix and Flip insurance on all financed properties.
Coverages and Limits
| Coverage type | Limit | Required |
|---|---|---|
| Dwelling | Replacement Cost or Loan Amount (zero coinsurance) | Yes |
| Liability | $1M per occurrence / $2M annual aggregate | Yes |
| Builders Risk | Included | Yes |
| Flood | Greater of $250,000 or the loan balance | only if in FEMA Special Flood Hazard Area |
Coverage Details
| Coverage item | Requirement |
|---|---|
| AM Best Rating | A- VIII or greater |
| Policy type | Special Form |
| Deductible | $1,000 to $5,000 |
| Lender's Designation | Mortgagee and Additional Insured |
| Exclusions | No windstorm, hail or named storm exclusion |
| Cancellation | 30-day notice |
💡 Pro tip: As soon as you take ownership of the property, install smoke detectors, locks, and security cameras. These are essential for insurance compliance and can prevent claim denials.
Frequently Asked Questions About Florida Hard Money Loans
What states does OfferMarket fund hard money loans?
We lend nationwide — and Florida is one of our core markets.
| States |
|---|
| Arizona* Alabama Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Mississippi Missouri Minnesota* Montana Nebraska Nevada* New Hampshire New Jersey New Mexico New York North Carolina North Dakota* Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota* Tennessee Texas Utah Vermont* Virginia Washington Washington DC West Virginia Wisconsin Wyoming |
(*) In states where NMLS license is required for business purpose lending or we do not directly lend, OfferMarket operates as a rate shopping service and refers your loan to a licensed capital provider.
Can I do more than one hard money loan at a time?
Yes. Many of our Florida investors juggle multiple rehabs — for example, a flip in Fort Myers and a BRRRR in Palm Bay. Just make sure you have the liquidity and bandwidth to manage your portfolio. We’ll flag any overextension risks and work with you to manage them safely.
Are hard money loans commercial?
Yes. These are business purpose loans made to your entity — not consumer loans.
What is the minimum loan amount?
$25,000.
Which property types are eligible?
| Eligible |
|---|
| Non‑owner occupied 1‑4 unit residential properties Single-family residences Townhomes Small multifamily (2‑4 units) Warrantable condos |
What about 5+ units or mixed use?
Those are not eligible under this specific program. However, we do have other loan programs available for 5+ unit and mixed use in major Florida metros. Contact us for those options.
How do you calculate Loan-to-Value (LTV)?
For Florida hard money loans, we mainly reference Loan-to-After-Repair Value (LTARV). LTV (Loan-to-Value) is based on the As Is property value.
Initial advance is based on the lesser of contract purchase price or our As Is valuation.
LTARV = (initial advance + rehab holdback) ÷ After Repair Value.
What are the credit requirements?
Minimum FICO of 680. Borrowers between 660–679 may be considered under exception review. We look only at guarantors’ credit scores, not at silent partners or passive LLC members.
What are the experience requirements?
None — but the more experience you have, the more leverage you’ll receive. We verify your track record and may request HUDs or settlement statements to validate past Florida projects.
Does being a wholesaler count toward experience?
No. You must have owned and rehabbed the property to count the experience. Assigning contracts doesn’t meet that threshold.
What documentation is required?
We’ve streamlined the process for Florida investors by using our digital Loan File system, which organizes and stores your documentation for easy review and reuse on future deals. Whether you're flipping in Sarasota or refinancing in Gainesville, here's exactly what you'll need depending on your transaction type.
Purchase Transaction Requirements
| Loan File sections: | Purchase |
|---|---|
| Loan File | Purchase Contract |
| Fully executed by buyer and seller. | |
| Loan File | Credit Report |
| Soft trimerge credit report for each member of the borrowing entity that will be a guarantor. | |
| Loan File | Background Report |
| Required for each member of the borrowing entity. | |
| Loan File | Track Record |
| Required for each member of the borrowing entity. | |
| Loan File | ID Verification |
| Government issued ID (i.e. drivers license, passport, Green Card). | |
| Loan File | Borrowing entity |
| Articles of Organization/Incorporation, Operating Agreement/Bylaws, Certificate of Good Standing, W-9 | |
| Loan File | Scope of Work |
| A detailed rehab budget that will be used to determine ARV. | |
| Loan File | Appraisal Report |
| You will be provided with a link to pay your appraisal invoice. Your appraisal will be uploaded to your loan file. | |
| Loan File | Bank Statements |
| Two (2) most recent statements for each guarantor. Account(s) can be personal (i.e. bank, brokerage, retirement) do not need to be in the name of the borrowing entity. | |
| Loan File | Letter of Explanation |
| If requested by our underwriting team. i.e. large deposits, late payments, background items. |
Refinance Transaction Requirements
| Loan File sections: | Refinance |
|---|---|
| Loan File | Settlement Statement |
| Fully executed by buyer, settlement agent. | |
| Loan File | Credit Report |
| Soft trimerge credit report for each member of the borrowing entity that will be a guarantor. | |
| Loan File | Background Report |
| Required for each member of the borrowing entity. | |
| Loan File | Track Record |
| Required for each member of the borrowing entity. | |
| Loan File | ID Verification |
| Government issued ID (i.e. drivers license, passport, Green Card). | |
| Loan File | Borrowing entity |
| Articles of Organization/Incorporation, Operating Agreement/Bylaws, Certificate of Good Standing, W-9 | |
| Loan File | Sunk Costs |
| The line items and associated costs that have already been incurred. | |
| Loan File | Scope of Work |
| Your detailed budget that will be used to determine ARV and guide your rehab of the property. | |
| Loan File | Appraisal Report |
| You will be provided with a link to pay your appraisal invoice. Your appraisal will be uploaded to your loan file. | |
| Loan File | Bank Statements |
| Two (2) most recent statements for each guarantor. Account(s) can be personal (i.e. bank, brokerage, retirement) do not need to be in the name of the borrowing entity. | |
| Loan File | Letter of Explanation |
| If requested by our underwriting team. i.e. large deposits, late payments, background items. |
Are there special requirements for loans over $1M?
If you're pursuing a large-scale investment in Florida — say a $1.5M flip in Miami Beach or a portfolio acquisition in Tampa — you’ll need to meet the following enhanced requirements.
| Criteria | Explanation |
|---|---|
| Experience | Minimum experience of 3, similar or greater price point strongly preferred |
| Market liquidity | Minimum of 3 comps within a 2 mile radius sold on the MLS in the last 6 months |
| Credit score | Minimum 680 with a minimum of 5 trade lines with 24 month history |
| Rural designation | Not eligible if designated rural by CFPB and USDA or appraisal report |
| Track Record | Required for each member of the borrowing entity |
Glossary of Key Terms
| Term | Definition |
|---|---|
| ADU | Accessory Dwelling Unit. This is a secondary, self-contained, housing unit located on the same tax parcel as a main single family home. |
| Arms-length | An arms-length transaction is a deal between independent parties with no special relationship, ensuring fair market value. |
| Non Arms-length | A transaction where a personal, financial, or business connection between the parties may affect fairness, pricing, or terms. |
| Initial Advance | The component of the total loan that will go towards the purchase price. This amount is wired to the title company at closing. |
| Construction Holdback | The component of the total loan that will go towards the purchase price. This amount is wired to the title company at closing. |
| Interest Reserves | Reserves collected on the settlement statement and held in servicing escrow to be drawn down as payment for interest accrued as determined during underwriting based on credit score and late payment history. |
| LOE | Letter of explanation. A document that offers further details or clarification on particular issues, like a borrower's financial status, credit history, or background. |
| LTC | Loan to Cost. Ratio of the loan amount to the purchase price and rehab costs. |
| LTFC | Loan to Full Cost. Ratio of the total loan amount to the total cost, which includes both the purchase price and the construction budget. |
| LTV | Loan-To-Value. This is the ratio of loan amount to property’s As-Is value. |
| LTARV | Loan-To-After-Repair Value. Also referred to as "ARLTV". This is the ratio of loan amount to property’s estimated value after rehab is completed. |
| As Disbursed Interest | Interest is accrued only on the amount of the loan that has been funded (initial advance + drawn construction holdback). |
| Full Boat Interest | Also known as "Dutch Interest". Interest is accrued on the entire loan amount (initial advance + total construction holdback). |
| Lopsided deal | When the As Is value or purchase price is less than the rehab amount. In these scenarios, LTFC is limited to a maximum of 85%. |
| GC Agreement | A contract with a general contractor outlining project management and execution responsibilities. |
| DSCR | Debt Service Coverage Ratio. A measure of property income relative to debt obligations. The formula is Rent ÷ PITIA |
Instant Florida Hard Money Loan Quote
Our private lending division, OfferMarket Capital LLC, is a leading private lender for 1-4 unit residential real estate investors in Florida. From Jacksonville to Miami, Orlando to Pensacola — we specialize in hard money loans and DSCR loans that help local investors grow fast.
Our mission is to help you build long-term wealth through real estate, and we would love to partner with you on your next Florida investment.
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