Florence Hard Money Lender

Florence Hard Money Lender

In the Florence real estate market, grabbing properties before your competition is essential for making the best deals. Although real estate investors sometimes go the traditional route and seek bank loans, the process is anything but speedy.

When time is of the essence, waiting for the lengthy process of getting approval is not an option for most investors. Florence hard money lenders specialize in providing hard money loans which provide quick funds to investors. These loans are for a non owner occupied property or in some cases for business purpose loans.

Florence Hard Money Lender FAQ’S

Below are some of the most frequently asked questions we get regarding hard money loans and lenders in Florence.

What Do Florence Hard Money Lenders Specialize in?

Florence hard money lenders specialize in providing short-term, creative financing for real estate investors. If you seek a conventional lender to purchase an investment property, your loan request will be based on the property’s value and your assets. Your credit score, job, and finances will be scrutinized intensely.  Hard money lenders base their final loan decisions on the after-repair value. The ARV represents the potential value of a property after all repairs have been accomplished.

What are the Benefits of Florence Hard Money Loans?

Florence hard money loans offer advantages that traditional banks cannot. Lenders like Acamnet Financial offer a higher level of flexibility than banks.  When qualifying for this type of loan, lenders do not delve too deeply into the finances of real estate investors. In most cases, simply present the property and your plans, which saves you the hassle of gathering countless financial documents.

Do Florence Hard Money Lenders Look at my Credit Score?

One of the greatest benefits of working with Florence hard money lenders is the lack of credit score requirements. One of the first things a bank does is check your credit score.  You can get approved for a hard money loan in Florence even if you have bad credit or poor credit, bankruptcies, and foreclosures in the past. Florence Hard money lenders primarily care about the property you are purchasing.

What is the Interest Rate & Points for Hard Money Loans in Florence?

Interest rates for hard money loans in Florence are typically higher than traditional bank loans (conventional loans) because of the greater risk lenders must take on when approving loans. When searching for a hard money lender near me in Florence, you will find average interest rate is between 8%-15%.  You should also be aware that lenders sometimes charge points that are meant to offset their administrative costs. Each point represents 1% of the total loan amount.  The average points lenders charge is between 1 to 3. Some lenders may charge up to 10 points. These points are due upfront or at closing, depending on the lender.

What Should I Look for in a Florence Hard Money Lender?

There are many benefits to working with a Florence hard money lender.  You just need to make sure you are working with the right lender.  You can rely on Acamnet Financial Group when you need us most.  We offer reliability, consistency, experience, and support.  As a real estate investor, you know the importance of grabbing the best property deals when they become available.

How can Hard Money Lenders in Florence Help Me?

Whether you are new to real estate and real estate projects or an old pro, you know having the capital to purchase real estate is essential. Without funds, you will miss out on real estate transactions.  When you partner with hard money lenders in Florence, you will quickly get the money you need without jumping through the hoops of traditional bank lenders.

How do I get a Hard Money Loan in Florence?

When you want a hard money loan in Florence, begin by preparing the property information. Location, size, purchase price, after repair value, repair costs, etc.  In most cases, the financing will be based on these numbers.  Then, apply for a hard money loan in Florence using this information and supply some financial information.  Then, an appraisal will be ordered to assess the loan-to-value ratio, which will influence the loan amount.

How do I Refinance a Florence Hard Money Loan?

Refinance a Florence hard money loan will involve moving from a high interest, short term loan to a longer term, usually lower interest rate loan. Typically a conventional type of loan.  When refinancing a Florence hard money loan you will find it will have a more stringent set of guidelines.  You will need to have sufficient credit and income qualifications.  As the lending landscaping and regulations constantly change, you want to consult a knowledgeable conventional loan expert.

Here’s other cites we can help with in Kentucky: Hard money loans in Kentucky

Current Real Estate Trends In Florence (2024)

The real estate market in Florence, KY is thriving, with prices reflecting high demand and limited supply. The median listing home price is $269.9K, with a corresponding median listing home price per square foot of $159.

The median sold home price is also $269K, indicating that homes are selling close to their asking price. The sale-to-list price ratio of 100% suggests a seller’s market, with more buyers than available homes.

Homes in Florence are selling within 24 days on average. Although this figure has stayed consistent compared to last month, there has been a slight increase compared to the previous year.

Florence provides residents with various amenities, including grocery stores, cafes, restaurants, parks, and gyms. Rental options are also available, with prices ranging from $720 to $2.6K per month.

All in all, the Florence real estate market looks positive, with home values increasing and a bright outlook for future sales prices.

Home Values and Prices

The real estate market in Florence, KY is showing strong signs of growth and potential for investment. Data indicates that the median listing home price is $269.9K, with a median listing home price per square foot of $159.

The median sold home price is also $269K, suggesting a stable and growing market with homes selling for close to the asking price. The city is considered a seller’s market, with limited supply and high demand.

Looking into the market further, the forecast, sale-to-list price ratio, and days to pending give a better overview of the current situation.

Market Overview

The market in Florence City shows some insightful figures regarding real estate values and investment opportunities. Here are three main points to consider:

1. 1-year market outlook: The market in Florence City is expected to remain on an upward trend, with an expected increase in house prices in the coming year. This creates a promising atmosphere for real estate investments.

2. Median sale to list proportion: The median sale to list proportion gives an idea of how close homes in Florence City are going for to their original listing price. This statistic can aid investors evaluate the competitive nature of the market and the possibility of negotiation.

3. Percentage of sales over list price: This metric reflects the demand for houses in Florence City, as it shows the percentage of sales that exceed the original listing price. A higher percentage suggests a competitive market with limited inventory.

The present market overview provides the basis for looking into rental possibilities in Florence City, which provides alternatives for those wanting to rent property.

Rental Options

Renters in Florence City have many options available for temporary housing. With a plethora of rental properties to choose from, ranging from $720 to $2.6K per month, there’s something for everyone.

From apartments and condos to single-family homes, Florence, KY offers a wide selection of accommodation to suit people’s needs. Those seeking a place to stay can find the perfect place to rent in the city with ease.

With a thriving real estate market, Florence City provides an attractive option for those who can’t commit to buying a home. Renters can take advantage of the flexibility of renting without having to tie themselves down to one place.



All About Florence

Welcome to Florence, Kentucky – a lively city with a deep history and plenty to offer. Whether you’re a resident or just passing through, this guide will provide you with all the information you need to know about this great place.

Positioned in eastern Boone County, Florence is conveniently accessible through major highways and interstates. You’ll find U.S. Routes 25, 42, and 127, as well as Interstates 75 and 71, for easy navigation around town and exploring the area.

Florence has numerous major employers, such as St. Elizabeth Healthcare, Boone County Schools, and Walmart. Moreover, the city boasts a wide range of businesses, from Kona Ice to Costco Wholesale, to help fuel its bustling economy.

When you’re looking for entertainment and recreation, Florence has something for everyone. There are some one-of-a-kind attractions, such as the Florence Yall Water Tower and Florence Yalls minor league baseball team. Additionally, you can visit well-known places like Florence Mall, Boone County Veterans Memorial Park, UC Health Stadium, and Florence Nature Park.

History and Incorporation

The fascinating history of Florence is a story of growth and incorporation into the vibrant city it stands as today. Originally known as Crossroads, Florence adopted its current name in 1828. It was officially incorporated as a city on January 27, 1830. The city’s rapid growth was greatly influenced by the completion of the Covington-Lexington Turnpike in 1836, leading to it being referred to as Stringtown at one point.

Located in eastern Boone County, Florence is intersected by U.S. Routes 25, 42, and 127, as well as Interstates 75 and 71, making it easily accessible. Covering a total area of 10.3 square miles, with a small portion of water, visitors can enjoy beautiful views of the surrounding landscape at its elevation of 883 feet.

Florence’s economy is supported by several major employers. In the next section, we’ll take a look at some of these employers and the industries they serve.

Geography and Location

Florence, situated in the east of Boone County, is a bustling city with a 10.3 square mile area. With an elevation of 883 feet, it provides magnificent views of the surrounding landscape. The city combines urban development with natural beauty in perfect harmony.

U.S. Routes 25, 42, and 127 pass through the center of Florence, giving it great connectivity. Interstates 75 and 71 also go through the west of the city, adding to its convenience. These routes and interstates give easy access to the downtown area of Cincinnati and its neighboring places.

Florence is a vibrant city with plenty of business opportunities. It has several major employers that contribute to its economy.

Altogether, Florence is an attractive city with its captivating geography and location. It is blessed with routes, interstates, and picturesque views, making it a great place to visit and explore.

Economy and Major Employers

Florence has a diverse range of industries, boasting major employers such as St. Elizabeth Healthcare, Boone County Schools, and Walmart.

St. Elizabeth Healthcare is the biggest healthcare provider in the area, offering a wide array of medical services to the local population.

Boone County Schools supply quality education to the locals, ensuring that students have access to outstanding educational opportunities.

Walmart, a well-known retail giant, provides employment opportunities and convenient shopping choices for both citizens and visitors alike.

Citigroup and Kelloggs are two other firms that have a presence in the unincorporated areas around the city, contributing to the local economy.

Kona Ice, a business based in Florence, serves up refreshing snacks and a great experience for people living there and visitors.

Costco Wholesale, another large employer, provides a wide range of products and services.

The city of Florence is also an employer, offering a variety of job opportunities and services to its citizens. From healthcare and education to retail and city services, the Florence economy is diverse and booming.

Florence’s flourishing economy supports a lively cultural scene as we move into the next section about arts and culture.

Arts and Culture

Immerse yourself in the vibrant arts and culture of Florence, where the Florence Yall Water Tower stands tall as a beloved landmark and the Florence Mall provides an excellent shopping opportunity.

The Florence Yall Water Tower has become a source of pride for the locals, with its iconic ‘Florence Yall’ signage. Originally built in 1974 to advertise the mall, the tower had to be altered due to highway regulations, but the community preferred to keep it as is. It is a visual representation of the city’s identity and a popular tourist attraction.

The Florence Mall is also a favorite of shoppers, offering a wide variety of stores, from well-known brands to local boutiques. You can find anything you could need, from fashion to electronics. The mall provides a pleasant shopping experience, with a diverse range of shops and a welcoming atmosphere.

Florence is a city that values creativity and expression. Art galleries feature the work of local artists, while Thomas More Stadium, home of the Florence Yalls independent minor league baseball team, hosts live performances.

Florence is home to many other landmarks and attractions, making it a great place to visit.

Landmarks and Attractions

The Boone County Veterans Memorial Park in Florence is a unique landmark that honors the service of brave men and women in the military. As you enter the park, you will be greeted by a memorial wall displaying the names of those who have served. The atmosphere of the park offers a peaceful setting for reflection and remembrance.

At the center of the park stands a larger-than-life bronze sculpture, ‘The Price of Freedom.’ This powerful artwork shows a soldier kneeling in front of a fallen comrade, symbolizing the ultimate sacrifice of our military. It is a moving tribute to the bravery and selflessness of our veterans.

Apart from the memorial wall and sculpture, the park also has many amenities for visitors. People can take a leisurely stroll on the winding paths through the greenery or have a picnic in the designated areas.

The Boone County Veterans Memorial Park stands as a symbol of gratitude and respect for those who have served our country. It is a place where visitors can come to pay their respects, reflect on the sacrifices made, and honor the brave men and women who have protected our freedom.