Hard money offers for a Miami investment property depend on the asset, renovation plan, borrower, and lender. Compare written terms for the specific property rather than relying on a market average.
Miami deal factors to review
- For condos, confirm association approval, assessments, insurance, and any lender restrictions.
- For coastal properties, request property-specific insurance and flood coverage estimates.
- For a renovation, ask which repairs are eligible for draws and how inspections are scheduled.
- Confirm title, permits, and the realistic timeline with the settlement team.
Compare the complete loan offer
Ask how the lender calculates value, how much equity you must contribute, and which costs are financed. Review interest, origination points, extension fees, draw fees, prepayment terms, and default provisions. Get the funding and draw schedule in writing.
Verify a Miami lender
Ask for recent references on comparable South Florida properties. Check the funding entity in the relevant business registry and ask the lender to explain any license or exemption that applies to your transaction. State requirements depend on the provider and loan; consult the relevant regulator for current rules.
Browse LendLedger's public directory preview to build a shortlist. Full directory details require an approved account. A profile or review is one source of context, not proof that a lender can fund your deal.
Match the lender to the property
Miami-Dade, Broward, Palm Beach, and the Keys include different property types and local processes. Ask whether the lender has closed a similar transaction in the property's county and whether it accepts the specific building, project scope, and borrower structure.
Frequently asked questions
What makes a hard money lender legitimate in Miami?
Confirm the legal funding entity, ask for recent comparable closing references, and check applicable licenses or exemptions with the relevant regulator. Review draw schedules, fees, and extension terms in writing.
What LTV can I expect from hard money lenders in Miami?
Limits vary by lender and property. Ask how value and project cost are calculated, what work is eligible for draws, and how much cash you must contribute.
Do hard money lenders in Miami work with foreign national borrowers?
Some lenders accept foreign national borrowers. Ask about eligibility, identity and income documentation, required reserves, and borrower entity rules before applying.
How long does a hard money loan take to close in Miami?
Timing depends on underwriting, title, property condition, association documents, and the settlement process. Request a written schedule for your deal.
Why does counterparty vetting matter more in Miami than in other markets?
Lender vetting matters in every market. For a Miami property, confirm experience with its asset type and county, and check property-specific insurance and association requirements.
What's the difference between a hard money lender and a bridge lender in Miami?
Hard money and bridge capital overlap significantly in South Florida. Hard money typically refers to asset-based lending for fix-and-flip or distressed acquisitions, with short terms and higher rates. Bridge loans often refer to transitional financing for stabilized or near-stabilized assets, sometimes at slightly lower rates and longer terms. In practice, many lenders in Miami offer both products, and the distinction matters more for underwriting criteria than for how lenders describe themselves.
How do I find verified hard money lenders in Miami?
Use referrals and directories to identify candidates, then request recent comparable South Florida closing references. LendLedger has a public directory preview; full details require an approved account.