100% Financing Bad Credit Commercial Florida Mortgage Lenders
FLORIDA REAL HARD MONEY LENDERS focus on Loan-To-Value (LTV) and not credit scores. We only consider the current as-is value of any real estate asset – not its speculative future value.
We currently offer the following Real Estate Loan Programs:
- Purchase or Refinance
- Seller Carry to 100% CLTV – OK
- 50-55% LTV for Commercial Properties
- 60% LTV for Residential Properties
- Any Credit Score Qualifies
- We Require the Property to be in a Population of 35k+
- $15 Million on Good, Clean Properties
- $5 Million Maximum on all Others
Florida Bad Credit Commerical Real Estate Structures:
- (1) Commercial/retail (CR) Non-owner occupied.
- a.Commercial, Mixed Use, Industrial, Multi-Family, Cannabis, Churches, Hotel/Motel, Assisted living, MHP, Gas Stations
- b.Restaurants.
- c.Business services.
- d.Professional services.
- e.Laundromats.
- f.Assisted living facility or daycare center, adult, six (6) or less (subject to airport compatibility standards of section 3-9-63).
- g. Day care center, child.
- h.Personal services.
- i.Motor vehicle wash.
- j.General retail sales and services (see section 3-9-61. for rules governing accessory outdoor retail sales, display, and storage).
- k.Hotel, motel, inn.
- l.Apparel and appliance sale and repair stores.
- m.Boat, travel trailer and motor vehicle sales or rental, including recreational vehicles and campers.
- n.Gas stations.
- o.Class 3 laboratories.
- p.Any other use which by reasonable implication would be similar to one (1) of the other uses listed in this category.
- (2)Industrial (I):
- a.Aircraft servicing and repairing, aircraft storage, air freight handling, airline catering services, aircraft hangars.
- b.Heliports and helistops.
- c.Building trades contractors.
- d.Class 1 and 2 laboratories.
- e.Heavy machinery and equipment sales, service, and rental.
- f.Lumber.
- g.Farm equipment sales and service.
- h.Light manufacturing and assembly.
- i.Dairy, grain, fruit, field crop, and vegetable processing.
- j.Sawmill, machine shop.
- k.Printing, lithographing, publishing, and similar establishments.
- l.Service establishments catering to industry, telephone exchanges, business machine services.
- m.ECAP industrial.
- n.Green industry.
- o.Research, testing facility.
- p.Distribution center, wholesaling, warehousing.
- q.Wholesale business.
- r.Bulk storage of other than flammable liquids or explosive materials.
- s.Any other use which by reasonable implication would be similar to one (1) of the other uses listed in this category.
- (3)Office/governmental (O):
- a.Terminal services, customs clearance, or flying charter services, sightseeing airplane services and flight instruction schools.
- b.Professional services.
- c.Business services.
- d.Banks, financial services.
- e.Essential services. (essential services)
- f.Vocational, trade, and business schools.
- g.Mass transit station.
- h.Medical and dental offices, and clinics.
- i.Governmental uses and facilities.
- j.Any other use which by reasonable implication would be similar to one (1) of the other uses listed in this category.
- (4)Airport property (A):
- All Collateral Subject TO Lenders Final Approval.
Bad Credit Florida Commerical Mortgage 100% Financing Summary…
Over the past four decades, our team has provided combined funding in excess of $1 billion. We can get you the funding you need easily, quickly, and without the hassles.
- All Property Types
- No FICO Restrictions
- 100% CLTV Financing
- Bankruptcy Bailouts OK
- We Fund up to 10M in 5 Days
100% Bad Credit Commercial Mortgage Programs Include:
- Stop Foreclosure Refinance
- Bankruptcy Refinance
- Judgment Refinance
- Multifamily Residential Properties
- Late Payments
- Inheritance Cash OUT
The items below are needed to complete the loan process:
- Photo ID
- Lease Agreements
- Photos of the Property (Interior/Exterior)
- LLC Documents (Articles of Incorporation, EIN, Signed Operating Statement
- Voided Check
- BPO with REO America
- Credit Report – We Run at 1 Bureau Only – If the Broker has Recent Credit We Can Use That
Forms we need to be completed:
- Signed Letter of Intent / Borrower Authorization
- Signed Application
- Wire Instruction for Documents
- Evidence of Insurance in Name of Florida Bad Credit Commerical Mortgage Lenders with minimum loan amount and minimum coverage.
- Purchase Agreement (If Applicable)
Types of Commercial Bad Credit Florida Mortgage Lenders
While trying to secure commercial property loans with bad credit, you’ll probably either face higher costs or shorter terms. However, some loans may be beneficial for you from both cost and time perspectives. Here’s a breakdown of the different types of financing to investigate if you have a low credit score:
- Hard money loans – While conventional bank loans are backed by credit scores, hard money loans are backed by collateral. That means risking an asset until you repay the loan. Hard money loans are usually easier to get with a greater degree of flexibility than traditional loans. Florida Hard Money Commercial lenders of such loans may be flexible with fees, terms, and restructuring opportunities.
- Private money loans – Another avenue for funding if you have bad credit is to seek a private money loan. Private money Florida mortgage lenders aren’t bound by as many regulations, so there’s less red tape involved. They share similarities with hard money lenders, except private lenders are less likely to issue penalties for late payments. The main disadvantage to a private money loan is that it usually means you pay a large down payment and a high-interest rate.
- Traditional bank financing – Bank loans are typically what investors turn to for financing real estate deals. A traditional bank, though, has strict policies on credit scores and will reject applications that don’t meet requirements. If you do get the loan, you’ll likely pay a higher interest rate than from a niche lender. A key benefit to traditional loans is they’re easy to get if you have a good credit score.
Taking steps that raise your credit score will give you wider financial options to consider. The best way to improve your credit score is to work toward paying off debts by a certain time to reach a goal. Some people choose debt consolidation to get back to good credit, but it can also make your financial situation worse. Building a savings account, creating an emergency fund, and planning a tight budget will put you in a better position to seek a traditional loan.
- CMBS loans – Commercial mortgage-backed securities (CMBS) loans are offered by banks to investors. The terms for these loans sold on the secondary market tend to be 5-10 years. CMBS lenders secure bonds based on pooling different commercial real estate mortgages together. The firm sells bonds to investors, who are paid back by the borrowers. These loans are usually more flexible, with lower interest rates than what traditional banks offer.
Overcome Bad Credit With 100% Mortgage Lenders
Even though bad credit can be a hurdle to securing commercial property loans for borrowers with bad credit, it’s still possible to get a cash advance from the sources listed here. You need to weigh the pros and cons before you sign up for any loan. At Florida Bad Credit Commercial Mortgage Lenders, we can provide you with commercial real estate loans without good credit. Apply now for a loan to get started!
Types of Commercial Real Estate Considered
Acceptable types of commercial real estate security include:
- Multifamily
- Retail
- Hotels / Hospitality
- Mixed Use
- Land
- Special Purpose
- Office
- Industrial
Reasons Why You Could Have Bad Credit
While there are numerous factors that can impact an individual’s credit score, your personal score page provides you with six factors that may be impacting your overall credit score.
- Balances – What is the total of your current and delinquent account balances?
- Utilization – How much of your total credit available are you currently using?
- Payment history – Have you consistently paid your accounts in a timely manner?
- Depth of credit – How long is your credit history and is there a varied mix of credit types?
- Recent credit – How many recently opened credit accounts and credit inquiries do you have?
- Available credit – What is the total amount of credit that you currently have access to?
- VantageScore® is based primarily on a 24-month review of your credit report. Your credit report has information – such as your history of payment punctuality, the total amount of your available credit, the total amount and type of debt you have, the number of open and active accounts, and the longevity of your relationships with creditors all of which impact your overall score. Your score may vary by bureau and that provided by FICO®.
Bad Credit Florida Commercial Service Areas Include
