Hard Money Loans Ft Lauderdale
Gelt Financial makes hard money loans in Ft. Lauderdale on residential investment property and commercial property, starting at $50,000, with closing in 3 to 7 days. This page covers our loan terms, how the city’s seawall and flood rules affect your loan, and the neighborhoods we lend in. It’s for real estate investors and property owners buying, refinancing, or rehabbing in Fort Lauderdale, plus Broward County mortgage brokers. Waterfront property moves fast here, and a lender who knows the city’s water rules won’t stall your closing.
We’re an honest, family-owned direct private lender. As a direct lender, we fund every loan with our own capital, so the people you talk to make the call.
Why Work With a Hard Money Direct Lender Near Fort Lauderdale?
Our office sits a short drive up I-95 from downtown Fort Lauderdale. You get quick funding and local answers from a direct hard money lender, not a call center.
Ready to move fast? Call us at 561-221-0900 for a free quote.
What Can You Finance With Hard Money Lending in Fort Lauderdale?
Our hard money loan programs give Fort Lauderdale investors fast and flexible financing on most investment properties and property types:
We don’t offer construction loans for ground-up construction or new builds, and we don’t lend on land.
We lend on existing buildings.
Hard money financing needs far less paperwork than traditional loans. Lenders release rehab funds in draws after each stage of work. All our hard money loans are business-purpose loans secured by non-owner-occupied real estate. Some hard money loans can cover up to 100% of rehab costs, depending on the deal.
How Does Fort Lauderdale’s Seawall Rule Affect a Waterfront Loan?
Fort Lauderdale sets a minimum height for seawalls. A low or failing wall can add real cost to a waterfront deal, so check it before you buy.
The city adopted these standards in Ordinance C-23-05 in March 2023:
Send any seawall inspection or city notice with your loan request. We review the subject property case by case and build the wall into your budget and loan term.
Will the 50% Rule Change Your Fort Lauderdale Rehab Budget?
Yes, if the property sits in a flood zone. A big rehab can trigger full flood upgrades, and that changes your numbers.
The city’s substantial improvement worksheet lays out the rule:
Look up the building value on the Broward County Property Appraiser site before you write your rehab budget. Then keep your scope under the line or plan for the upgrades. Permits go through the city’s LauderBuild portal, so allow time for review.
How Does Our Hard Money Loan Process Work?
Our real estate financing process is short, and you deal with the same team from start to finish.
- Call or apply. Tell us the property, the purchase price, and your exit strategy.
- Get a term sheet. If we want to do your deal, we send a term sheet with every cost listed. We don’t issue preapproval letters.
- We value the property. We base the loan on the property’s estimated value and your equity.
- Close. Most loans close in 3 to 7 days after we get your documents.
Hard money loans often require a higher down payment than traditional loans. Local lenders may have specific requirements based on regional market knowledge.
Our lending guidelines and loan criteria put the property first. A low borrower’s credit score won’t stop a good deal.
What Are Our Hard Money Loan Terms in Fort Lauderdale?
| Term | Gelt Financial |
|---|---|
| Loan amounts | $50,000 to $2,000,000 |
| Maximum LTV | Up to 65% loan-to-value |
| Closing time | 3 to 7 days |
| Loan term | 6 months to 5 years |
| Monthly payments | Interest-only |
| Credit score | No minimum |
| Title | Clean title required at closing |
Average hard money loan terms in Fort Lauderdale are about 25 months. Loan-to-value ratios for hard money loans in Fort Lauderdale average 71%.
Call 561-221-0900 for exact terms based on all the factors of your deal.
What Are Typical Industry-Wide Hard Money Loan Terms in Fort Lauderdale?
Other lenders usually quote:
- Short-term loan lengths of 1 to 2 years
- Interest rates typically ranging from 8% to 15%
- Origination fees of 2% to 5% of the loan amount
- Funding at 60% to 80% of current value or after-repair value
- Maximum loan-to-value up to 90% for experienced investors
- Monthly interest payments during the rehab
- Prepayment penalties at some lenders
Insurance and hazard requirements are crucial factors in acquiring hard money loans in South Florida. Monthly interest payments can be calculated as interest-only payments.
Defaulting on hard money loans can lead to rapid foreclosure proceedings.
Most borrowers use our short-term financing to buy or rehab, then refinance into long-term financing once cash flow is steady.
Get your Fort Lauderdale term sheet
How Does a Local Hard Money Lender Compare in Fort Lauderdale?
| Factor | Gelt Financial | Traditional banks | Online national lender |
|---|---|---|---|
| Decision makers | In our nearby Boca office | Regional loan committee | Out of state |
| Closing time | 3 to 7 days | Typically 45 to 90 days | Often 2 to 4 weeks |
| Approval based on | Property and equity | Credit, income, and debt | Credit score and property |
| Minimum credit score | None | Strong credit required | Usually a minimum |
| Waterfront and flood-zone rehabs | Case-by-case review | Often slow to approve | Rarely understood |
Traditional lenders study your tax returns and debt. Our hard money loans focus on the property’s market potential instead, because our underwriting is asset-based. With short terms, you need a clear exit strategy from day one.
Unlike many commercial hard money lenders, we don’t hand your file to an outside investor. If you want the fastest hard money lender, ask where the decision makers sit. Then ask us here at Gelt Financial.
How Much Does a Hard Money Loan Cost in Fort Lauderdale?
A hard money loan costs more than traditional financing, but it lets you close a deal quickly. Your term sheet lists every cost up front, with no hidden fees.
Plan for these Fort Lauderdale costs:
Have questions? Call us at 561-221-0900, and our team will help. We’re open 24 hours.
Which Fort Lauderdale Neighborhoods Do We Lend In?
We provide hard money loans across the city:
- Downtown and Las Olas: Las Olas Boulevard, Flagler Village, Progresso Village, and the Sistrunk corridor. The city’s redevelopment agency offers forgivable loans for commercial property improvements in this area.
- Waterfront: Rio Vista, Harbor Beach, Las Olas Isles, Coral Ridge, and Galt Ocean Mile
- Citywide: Victoria Park, Riverland, and the Uptown business district near Cypress Creek
We offer the same financing options across South Florida, including Wilton Manors, Oakland Park, Dania Beach, Hollywood, Plantation, Pompano Beach, Boca Raton, West Palm Beach, and Miami. See all our hard money loans across Florida.
Facing a default instead? See our foreclosure bailout loans in Fort Lauderdale.
Recent Loans We’ve Funded
Investors rely on our money loans and flexible terms for flip projects, rental portfolios, and commercial buildings. See our recent closings across Florida and the country.
Apply online at GeltFinancial.com or call us today to get started.
Hard Money Loan
For hard money loans in Ft. Lauderdale, call the direct lender just up I-95.
Call us at 561-221-0900 today! Gelt Financial is ready to discuss your financing needs on commercial or investment real estate.