Question 1

How fast can a hard money loan close in Florida?

Accepted Answer

Most hard money loans close in 7–21 business days. Repeat borrowers with demonstrated experience often close on the faster end. Rush closings in 5–10 days are available in some circumstances.

Question 2

Do hard money lenders in Florida check credit?

Accepted Answer

Credit is reviewed but is not the primary underwriting factor. Most programs have a minimum around 640 FICO. Strong property fundamentals, a clear exit strategy, and adequate equity can offset thin or imperfect credit.

Question 3

What is the maximum LTV on a Florida hard money loan?

Accepted Answer

Up to 70–75% of After Repair Value (ARV) for fix-and-flip deals. For purchase + renovation structures, up to 85–90% of total project cost. Loans on stabilized properties typically go to 65–70% of current appraised value.

Question 4

Can I use hard money financing for a commercial property in Florida?

Accepted Answer

Yes. Hard money loans are available on commercial, multi-family (5+), mixed-use, and 1–4 unit residential investment properties. Minimums and LTVs vary by property type.

Question 5

How does foreclosure work on a hard money loan in Florida?

Accepted Answer

Florida is a judicial foreclosure state under Chapter 702 of the Florida Statutes, meaning the lender must file suit rather than proceed by notice and sale. An uncontested case can reach final judgment within about 90 days of the close of pleadings, but contested cases commonly run 5 to 12 months or longer. Under Florida Statute §45.0315 the borrower may cure or redeem at any time before the clerk files the certificate of sale. Because enforcement takes longer here than in non-judicial states, that timeline is generally reflected in pricing and leverage on Florida deals. Verified as of September 2026.

Question 6

What is the Florida documentary stamp tax on a hard money loan?

Accepted Answer

Florida charges documentary stamp tax of $0.35 per $100 of the obligation secured by a mortgage. Unlike the tax on promissory notes, which is capped at $2,450, the mortgage documentary stamp tax is uncapped and scales with loan size. On a $2,000,000 loan that is roughly $7,000 due at recording. Budget it into closing costs rather than discovering it at the table. Deed transfer stamps are separate and run $0.70 per $100 statewide, except in Miami-Dade County where the rate is $0.60 per $100. Verified as of September 2026.

Feature	Typical Range
Loan amounts	$100,000 – $5,000,000+
LTV	Up to 70–75% ARV; up to 90% of purchase + rehab
Term	6–24 months
Close time	7–21 business days
Income docs	Not required — asset-based underwriting
Pre-payment	None on most programs

Florida Hard Money Loans