Bridge Loans in Florida

A bridge loan is temporary financing secured by real estate. It provides capital for a specific transaction or property transition until the debt can be repaid through a sale, a refinance, or another verified source of funds.

A residential bridge loan describes the property securing the loan. It can finance an investment house, townhome, condominium, or eligible two-to-four-unit property. It does not necessarily mean a loan for a home you will occupy.

At Bennett Capital Partners, acquisitions and refinances are the primary scenarios we review. We compare available bridge loan lenders against your property's condition, existing debt, requested proceeds, credit profile, and intended exit. We arrange financing as a mortgage broker; the selected lender determines the final terms and approval.

Our commercial bridge loan program addresses commercial property transitions. For apartment properties with five or more units, see multifamily bridge and rehabilitation financing.

For an acquisition, start with the contract price, deposit, closing date, current condition, and intended use. A property that needs work or a rental history may require an interim solution before it meets a permanent lender's requirements.

For a refinance, identify the current mortgage payoff, maturity date, payment history, and reason for replacing the debt. A bridge refinance can create time to complete a defined property plan. It also adds costs, so compare permanent financing first when the property and borrower already qualify.

Cash-out is not automatic. Lenders may restrict its purpose, amount, ownership seasoning, or use of proceeds. Explain how the funds will be used and which debts must be paid at closing.

Some bridge structures include financing for approved improvements alongside an acquisition or refinance. The work may help prepare the property for sale, improve its rental condition, or address items that prevent permanent financing.

An acquisition approval does not automatically include a rehabilitation budget. Confirm in writing whether the approval covers the purchase alone or includes later renovation advances.

Ask whether the renovation budget is included in the total commitment, held back for later release, or paid from your own cash. A commitment that includes future draws does not mean the full amount is available on closing day.

• Prepare an itemized scope, contractor estimate, timeline, and contingency.
• Confirm eligible work, permits, inspections, and draw-release requirements.
• Identify whether you must pay contractors before receiving reimbursement.
• Check who pays for overruns and whether interest applies to drawn funds or a different contractual balance.

Substantial structural work or ground-up development may need a different product. Compare renovation financing and construction loans when the scope goes beyond the bridge lender's program.

Bridge eligibility depends on the lender, borrower, collateral and repayment plan; flexible credit criteria do not mean automatic approval. Start with the review areas below, then use our bridge loan requirements, documents and timelines guide for application preparation.

An LLC does not automatically remove personal credit or guarantee requirements. Disclose existing liens, mortgage late payments and major credit events before incurring application costs.

Buying before you sell

If you want to buy a new primary residence before selling your current home, tell us the intended occupancy of both properties. That requires a separate consumer-purpose review, including existing home equity, overlapping obligations, and the new mortgage. Our owner-occupied bridge loan guide explains that situation in more detail.

In the bridge transactions we review, around 60% loan-to-value is more common. Financing is generally available up to 65% LTV for qualifying scenarios. Selected lenders may consider higher-leverage structures for borrowers with substantial relevant experience. The percentage and its valuation basis must be confirmed for each transaction. These are practical expectations from our brokerage experience, not a single set of program guidelines.

Separate the loan amount from usable cash.

Loan-to-value, or LTV, compares the loan amount with the property value accepted by the lender. Loan-to-cost, or LTC, compares financing with the project costs the lender recognizes. After-repair value, or ARV, estimates the property's value after specified improvements. These measures are not interchangeable.

A lender may apply more than one limit. Existing mortgage payoffs, closing costs, interest reserves, and renovation holdbacks can reduce what is immediately available. Ask for a written sources-and-uses breakdown showing your contribution and the funds available for each purpose.

• Initial advance and required borrower cash at closing.
• Mortgage and lien payoffs, fees, and third-party costs.
• Restricted reserves and future renovation advances.
• Cash remaining for taxes, insurance, association charges, and the project contingency.

Appraisal or another accepted valuation method depends on the lender and property. A borrower's estimated value is not a final lending value. Renovation loans may also have separate loan-to-cost or after-repair-value limits; the LTV ranges above should not be treated as an ARV advance.

The bridge loans we commonly arrange have 12 to 24 month terms and interest-only payments. During an interest-only period, scheduled payments do not reduce principal. The outstanding principal remains due under the note, typically in a balloon payment at maturity unless the loan is repaid earlier.

Compare the total cost over your expected holding period, including any early-payoff or extension charges. If an interest reserve is included, confirm how it is funded and what happens when it runs out; it does not make interest free.

Use our bridge loan rates, fees and costs guide to review a written proposal, then test its assumptions in the bridge loan calculator.

For a sale exit, estimate proceeds after selling expenses, other liens, and the bridge payoff. Test a lower sale price and a longer marketing period. The anticipated property value should support the transaction without assuming the strongest possible outcome.

For a refinance exit, review the next lender's credit, property-condition, valuation, ownership-seasoning, and income requirements in advance. A rental property may qualify for a DSCR loan based on the lender's rental-income calculation, while other scenarios may use conventional financing. Future eligibility and rates are not guaranteed.

If the sale or refinance cannot repay the balance, you may need additional capital. Failure to meet the loan obligations can put the property at risk.

Bridge describes the temporary financing purpose. Hard money generally describes a private, property-focused lending approach. One loan can fit both descriptions. Compare the actual funding structure and obligations rather than choosing solely by the label.

Bridge financing can provide flexibility during a transition, but it can create an additional closing and more carrying costs. When permanent financing is available now, the extra interim step may not be necessary.

From our Brickell office, Bennett Capital Partners reviews Florida residential bridge scenarios, including properties in Miami-Dade, Broward, and Palm Beach counties, as well as Tampa, Orlando, Jacksonville, and Southwest Florida. Availability depends on the lender's location and property criteria.

For Florida houses and condos, gather insurance information, current taxes, association charges, and known repair or assessment issues early. Flood exposure, coverage requirements, property condition, and project documentation can affect funding and the cost of ownership.

A condominium's rental restrictions, association obligations, and building condition can also affect the exit. Review the appropriate condo financing options when planning a future refinance. Short-term financing does not resolve an underlying property or project issue by itself.