Hard money lending in Florida is built around speed: a conventional mortgage commonly takes 45 days or more to close, while asset-based financing — underwritten on the property’s value and the deal’s numbers rather than a personal income file — can close in days. That speed is most often used by investors in Miami and other active metros where competitive deals don’t wait on a bank’s timeline.
Fix and Flip loans in Florida
Fix-and-flip loans are structured around a renovate-and-resell timeline, typically 6 to 18 months. Funds are sized against purchase price, rehab budget, and projected after-repair value rather than a personal income file, and disbursed in draws tied to completed work rather than as a single lump sum.
These loans close faster than a conventional mortgage because underwriting focuses on the deal itself — the property's numbers — instead of a full income-documentation process.
Florida market context for fix and flip deals
Florida’s investor market is shaped by sustained population inflow and no state income tax, which keeps both flip and short-term rental demand active year-round. That activity concentrates in Miami, Tampa, Orlando, Jacksonville. Within Miami, investor activity is especially concentrated in areas like Downtown Miami, Brickell, Wynwood. In a market moving at this pace, financing speed is frequently the difference between winning a deal and losing it to an all-cash or hard-money-backed buyer.
Top Fix and Flip lenders in Florida
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Frequently asked questions
What are typical fix and flip loan rates and terms in Florida?
Rates, points, and terms vary by lender, deal size, and borrower experience — there's no single figure that applies statewide. Compare current quotes directly from lenders active in Florida before committing to a deal.
Is a high credit score required to qualify?
Generally no. Hard money and DSCR lenders typically underwrite primarily on the property and the deal — purchase price, rehab scope, after-repair value, or rental income — rather than the credit-score thresholds a conventional mortgage requires. Specific minimums vary by lender.
What property types are commonly financed this way?
Single-family homes, small multifamily (2-4 units), and 5+ unit multifamily are the most common, along with commercial and mixed-use assets for bridge financing. Eligibility varies by lender and program.
How fast can this type of loan typically close in Miami?
Hard money deals commonly close in 7-14 days once title and documentation are in order, well ahead of a conventional 45-day-plus timeline. Actual speed depends on the specific lender and how quickly paperwork moves.