The Associates Home Loan of Florida

About The Associates Home Loan of Florida

The Associates Home Loan of Florida is a Tampa, FL based private money lender. They offer funding in Florida. They provide lending solutions for a variety of scenarios, including hard money loans for commercial properties, short term fix and flip loans, loans for rental properties, bridge loans, and hard money refinancing. Their loan parameters are flexible, including loan amounts starting from $10,000 with a maximum LTV of 70%. They provide loans on many types of properties, including single family units, multi family, apartment buildings, office units, retail units, hotels, storage facilities, senior housing facilities, mixed use spaces, warehouse buildings, and churches.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, Refinance / Cash Out Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Church

Areas Served: FL

Licenses: NMLS# 380601

Lending Guidelines for The Associates Home Loan of Florida

Below are the general loan guidelines published on the The Associates Home Loan of Florida website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by The Associates Home Loan of Florida.

Loan Example 1

Isaac finds a condo in Miami, FL to remodel and sell. Since he doesn't have enough cash on-hand to purchase the $180,000 project outright, he decides to take out a fix and flip loan from The Associates Home Loan of Florida. The borrower will need to bring 35% of the purchase price in cash to the closing based on a 65% loan-to-value set by the lending company. This makes the principle amount from The Associates Home Loan of Florida $117,000. The loan is interest-only, paid monthly, and is for 18 months at 11% interest with 2 origination points paid at the closing.

The borrower must contribute a total of $32,400 up front to pay the $63,000 down payment plus the $2,340 origination fee. Once the deal closes, he will have to pay The Associates Home Loan of Florida $1,073 in monthly interest fees, or 11% multiplied by $117,000 divided by 12 months in the year. Assuming he sells the remodeled project for $252,000 at the end of the 18 month term, his gross profit (not accounting for renovation expenses) would be $50,355. This is calculated by taking the purchase price ($252,000) and subtracting the original principle ($117,000), the origination cost ($2,340), the funds he brought to closing ($63,000), and the total interest payments ($19,305).

Loan Example 2

The Associates Home Loan of Florida makes a loan to Adrian for a renovation project in Miami, FL. The deal dictates the following:

a) A $180,000 purchase price, b) a 60% loan to value (LTV), c) a 12 month term, d) a 12% interest rate, and e) a 4% origination fee.

Adrian plans to list the property when the note expires for $225,000. If he succeeds, the deal numbers will be the following:

$225,000 sales price
- $108,000 principle on note (60% LTV)
- $72,000 cash paid at closing (40% on 60% LTV)
- $4,320 origination points (4% of the $108,000 principle amount)
- $12,960 total interest paid (12 months x 12% interest)
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= $27,720 gross profit (doesn't include taxes or renovation costs)