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 South Carolina: Hard money loans in South Carolina

Current Real Estate Trends In Florence (2024)

The real estate market in Florence, SC has remained relatively stable with a median listing home price of $271.3K and a median listing home price per square foot of $139.

The average time houses remain on the market is 49 days, which is a decrease from the previous month.

The average home value in Florence stands at $207,199, showing a slight 1.5% increase in value over the past year.

The median time to pending status is 12 days.

The median home listing prices suggest a 5.141% increase in sales prices over the next 10 years, with projected prices of $148,980 in 2028 and $152,179 in 2033.

Investing in real estate in Florence may be seen as a profitable option for house flipping, however, the overall property market has a negative outlook.

Therefore, it is important to consider alternative cities when looking to build a real estate portfolio.

Market Overview

The market overview for Florence, SC indicates a strong demand for homes in the area. The median list price of $257,667 as of October 31, 2023 demonstrates the high demand and willingness of buyers to pay a considerable amount for properties in Florence. 

The median sale to list ratio of 0.998 as of September 30, 2023 reveals that homes in Florence are selling for near their asking price on average. This further supports the notion of a robust market. Furthermore, the median days to pending of 12 days as of October 31, 2023 indicates that properties in Florence are going under contract quickly, highlighting the strong demand and competitiveness of the market. These positive market indicators suggest a positive outlook for home values in Florence, SC.

Home Values

Florence City has seen a 1.5% rise in home values over the past year, showcasing a positive trend in the real estate market.

Properties in Florence tend to go pending in around 12 days, displaying a high demand for houses in the area. This illustrates the attractiveness of Florence City as an investment option.

The continuous rise in home values indicates a promising outlook for current and potential property owners.

Market Forecast

Projections for the Florence City real estate market suggest potential growth and stability in property values, offering advantageous opportunities for real estate investors and homeowners.

According to the market forecast, sales prices are predicted to increase by 5.141% over the next 10 years. This implies that the median listing price of homes in Florence City is probable to rise.

There is a predicted short-term surge in home prices, with the median listing price anticipated to increase from $144,738 USD to $145,798 USD in one year.

The long-term gain potential is also positive, with a predicted increase of +0.732% in one year.

These predictions suggest that investing in real estate in Florence City may be a worthwhile venture, as the market is likely to experience growth and offer potential returns for investors.



All About Florence

Are you searching for a city that has something for everyone? Look no further than Florence, South Carolina! From beautiful art displays at the Florence County Museum to thrilling activities at DEFY Extreme Air Sports, this city has it all.

Take a leisurely walk through Timrod Park, a great place to explore historic sites, go for a nature walk, or have a peaceful picnic.

Sports fans can attend the exciting baseball games at Sparrow Stadium, the home of the Florence RedWolves.

To pay tribute to our American heroes, visit Florence Veterans Park, which is filled with inspiring monuments and statues.

Whether you’re interested in history, recreation, or just need to unwind, Florence has something for you. So come and explore what this incredible city has to offer!

Florence Museum

If you’re searching for a spot to explore the lively art scene in Florence, the Florence County Museum should be at the top of your list. This superb museum showcases exhibits from both local and international artists, providing a wide array of artistic styles and points of view.

One of the best parts of the museum is the massive collection of works from Florence painter William H. Johnson. His dynamic and expressive paintings really capture the essence of the city and its people.

The Florence County Museum is not only a great place to appreciate art, but also a center of cultural activities. They provide free public tours, offering visitors the opportunity to gain a greater understanding of the artworks. Additionally, the museum offers family-friendly activities such as family day and afternoon art club, making it a great destination for all ages.

DEFY Extreme Air Sports

Experience the thrill of dodgeball and tackle the ninja course at DEFY Extreme Air Sports. Prepare for a heart-pounding journey that will take your getaway to new heights. Sign a waiver and get ready for an unforgettable time in Florence.

DEFY Extreme Air Sports is not a conventional trampoline park. It offers a one-of-a-kind and thrilling ambiance that will leave you wanting more. Whether you’re an experienced athlete or simply looking for a fun activity, DEFY has something for everyone.

Compete against your friends in a game of extreme dodgeball and show off your abilities as you leap, dodge, and fly through the air. Feel the thrill of the challenge and the joy of success as you strive to come out on top. And if dodgeball isn’t enough, take on the ninja course and test your agility, strength, and perseverance. Pass through a series of obstacles and overcome each one with accuracy and finesse.

As you push your limits at DEFY, you’ll also have the chance to appreciate the lively environment and connect with other adrenaline junkies. It’s a place where joy and laughter fill the air, leaving you with memories that will last a lifetime. But don’t just take our word for it, come and experience it firsthand.

Now, let’s move on to the next section about Timrod Park, where you can unwind and explore the ancient sites and tranquil atmosphere.

Timrod Park

Located in one of Florence’s oldest neighbourhoods, Timrod Park provides a tranquil escape with its historic sites and diverse relaxation activities. As you enter the park, you’ll be taken back in time, surrounded by the rich history of the city.

One of the park’s major attractions is the one-room school building where Henry Timrod, the park’s namesake, once taught. It is a captivating look into the past and an indication of Florence’s educational background.

But Timrod Park is not just about history. The park also features stunning gardens, a picturesque gazebo, and nature trails that meander through the lush greenery. It is the ideal place for a peaceful stroll or a relaxing picnic with your loved ones.

For those who prefer an active visit, Timrod Park provides tennis courts and fitness courses to get your heart rate up. Whether you’re an enthusiast of history or just looking for a place to relax and take a break, Timrod Park has something for everyone.

Florence RedWolves

Get ready to cheer and feel the thrill at the Florence RedWolves! Representing Florence in the Coastal Plain League, they bring their best to Sparrow Stadium, an iconic home field that sets the stage for an unforgettable experience.

As you enter the stadium, you’ll be captivated by the vibrant atmosphere and the sound of the crowd. The energy is contagious as you watch these talented athletes showcase their skills on the diamond.

Whether you’re a baseball fan or looking for a great time, the Florence RedWolves will be sure to please. The games provide non-stop excitement, with players displaying their talents with every pitch, swing, and catch. You won’t be able to contain your excitement as you witness the crack of the bat and the speedy runs around the bases. The RedWolves definitely know how to entertain and create a memorable game-day experience.

When the baseball game is over, it’s time to transition to the next part of your Florence adventure. Head over to the Florence Veterans Park and pay tribute to American soldiers and reflect on their service.

Florence Veterans Park

As you explore Florence, make sure to stop by the breathtaking Florence Veterans Park and pay tribute to the heroes of our country. Spanning six acres, the park is an awe-inspiring setting that honors the bravery of our veterans.

Upon entering the park, you’ll be welcomed by statues and monuments that remind us of the heroism and courage of our servicemen and women. Of particular note is the six-sided obelisk, an emblem of the strength and solidarity of our military forces.

The names of veterans who served in Desert Storm are also inscribed in the park, a poignant reminder of their loyalty and commitment. The tranquil atmosphere of the park invites you to take a moment of reflection and appreciation for the freedoms we enjoy today.

Whether you have a connection to the armed forces or simply admire their service, Florence Veterans Park is a place to recognize and remember those who have fought for our liberty. It offers a chance to express our appreciation for their dedication and courage.

Take some time to visit this special place during your time in Florence. It’s an opportunity to honor our veterans and to be thankful for their selflessness and valor.