ASSET BASED LENDING SOLUTIONS FOR THE GREATER MADEIRA BEACH, FL AREA
The city of Madeira Beach is known for a lot of things. The beach was ranked number 9 out of the 10 top beaches in the United States in 2020. The sea-themed John’s Pass Village and Boardwalk, Seafood Festival, and the Church by the Sea (fondly called the “Chicken Church” because it resembles a chicken) draw visitors from all over.
Due to its high popularity, Madeira Beach would be a great place for real estate investment. If you have been dreaming of investing in real estate, but don’t have the capital, HML Solutions could provide you with hard money and bridge financing solutions to actualize your dreams in Madeira Beach, Florida.
It doesn’t matter if it is your first investment or you are a seasoned investor, we at HML Solutions have you covered.
Type of Loans and Requirements
Hard money and bridge financing for Madeira beach offers many types of loans, including bridge loans and hard money loans.
A hard money loan is an asset-based loan where borrowers are granted financing based on using real property as collateral. There are several types of hard loans, including rehab loans, bridge loans, fix and flip loans, and commercial loans.
While bridge loans are hard money loans, hard money loans are not always bridge loans. A bridge loan is a short-term loan used before the borrower can access permanent funding. The borrower uses this type of loan to ensure that the project or the purchase of the property continues as they had planned until they can get long-term capital. You can use it to purchase, fix, and flip property.
To qualify for these types of loans, you should satisfy a particular set of requirements which include:
- Less cash flow requirements compared to the conventional loans
- A few business documents
- Commercial property or a project’s assets as collateral
- A simple credit check
The traditional loan application process involves a lot of complicated paperwork and time spent on the approval process without guaranteeing you will get the loan. Also, you will need a lot of documents and an excellent credit score to attain one. On the other hand, HML Solutions has simplified the process and is quite lenient regarding the requirements. Once you submit your application and documents, you will be approved in a short period of one to two weeks.
Hard Money and Bridge Financing Terms
HML Solutions offers loans from $100K to $50 million and up. Hard money and bridge loans provide an LTV of up to 75% of the as-is value project or property purchase price. They also have fixed interest rates, ranging from 6.99% to 12%. In addition to the 1- to 5-year loan term period, there are no penalties for repaying the loan back early.
Obtaining one of these hard money or bridge loans might assist you in getting started or back on track in your real estate business, whether you need to purchase, flip and fix a commercial property, or complete a project.
HML Solutions can supply you with the funds you require for your venture through bridge loans and hard money loans. You do not need to be well-established to be eligible for the loan.
Contact one of our Madeira Beach HML Solutions professionals to get started on your application right away.
Note: All submitted information is kept in strict confidence and used solely for the purpose of obtaining a hard money loan and/or bridge loan. We do not share your information with any third parties without your consent.