This is a list of the best investment property lenders in Sarasota, Florida.
Finally!
Real reviews. Real experiences. Real recommendations from hundreds of Sarasota locals.
Let’s jump right in.
Here are the best lenders to buy a rental property in Sarasota:
- Gulfside Mortgage Services
- Capital Ton LLC
- Braun Mortgage Group
- FlipCo Financial
- LendingOne
- JML Mortgage LLC
- Visio Lending
- CoreVest
Gulfside Mortgage Services
Best for: FHA and VA loans
NMLS #1030608
Website | (941) 485-4222
Gulfside Mortgage Services provides lots of loan products such as FHA, VA, USDA, jumbo, and reverse mortgages. Based on what we found, Angie Vance is an experienced mortgage loan originator known for skill in simplifying the complex mortgage process.
Angie is personable and professional, striving to align her clients with the most suitable mortgage options. She is often praised in the Facebook Group: Sarasota Word of Mouth, highlighting her prominent reputation within the real estate community. We’d recommend her for new investment property buyers in Sarasota.
Since Gulfside Mortgage Services specializes in FHA loans and other traditional loans, personal income, tax returns and complete credit report would be required, even for an investment property.
Capital Ton LLC
Best for: Loans based on future rental income.
Website | (813) 303-0808
Capital Ton LLC specializes in fix and flip loans and rental property loans. They’re headquartered in Sarasota, Florida and offer investment property loans that are not based on personal income. So tax returns, W-2 or personal income won’t be requested.
- Up to 80% LTV financing
- Based on potential rental income
- Min loan amount: $75,000
Since these are asset-based loans, approval will be based on the property’s ability to generate sufficient rental income that’ll cover mortgage payments, property taxes, insurance and any HOA fees. In the mortgage industry, they’re called DSCR loans. Make sure to check out their DSCR calculator if you’re interested.
- Up to 90% LTC financing
- Up to 100% rehab costs
- Close as fast as 2 days
Capital Ton LLC’s fix and flip loans give real estate investors the ability to buy investment properties in Sarasota fast. You can close as fast as two days and get up to 90% financing on the purchase price. Rehab costs can also be financed up to 100% with 0% interest until funds are drawn.
Both of these loans are not based on personal income, but rather credit score, liquid cash reserves and the property’s ability to turn a profit. While no experience is required, seasoned investors to get better loan terms.
Greg Braun – Braun Mortgage Group
Best for: Best customer service and 20 years of experience
NMLS #1798086
Website | (941) 315-2112
Greg Braun is co-founder of Braun Mortgage Group in Sarasota, Florida. He brings over 20 years of experience in the residential and commercial mortgage industry. His team is known for their commitment to providing a smooth, transparent, and pleasant mortgage process.
Braun Mortgage Group is known for offering competitive rates and on-time closings. Specifically thanks to their strong network of real estate lenders and a personalized approach to mortgage brokering. This has earned them excellent 5-star ratings from previous clients.
Greg Braun specializes in FHA loans which typically require personal income, W-2’s, tax returns, business tax returns (if any), etc. If you’re closing in your personal name, not an LLC, and have sufficient income to support an additional investment property, this the best option for you. FHA lenders will typically offer the lowest interest rates and can close in 30-45 business days.
FlipCo Financial
Best for: No credit check
Website | 888-549-3261
FlipCo Financial is a no credit check investment property lender. As an asset-based lender, they do not pull credit. They specialize in fix and flip loans and outsource or refer other types of loans to their partners in the lending industry. They can close as fast as three days on a fix and flip property, but their loans come with a higher origination cost and higher interest rates.
Expect up to 90% financing on an investment property as long as it’s for the purpose of fixing and flipping. They will request a scope of work, experience track record and cash reserves. There are no appraisals, so they will request 2 pictures from every room, side of the house, backyard, front of the house, etc.
Flipco is ideal for a house flipper who has high cash reserves, an under-market priced investment property with a high after-repair value post renovation.
LendingOne
Best for: Investment property loans
NMLS #1508627
Website | (866) 850-5368
LendingOne is an investment property lender headquartered in Boca Raton, Florida. They offer private money loans, to buy an investment property in Sarasota, refinance investment properties, cash out refi, fix and flip and new construction financing.
An appraisal is required for any investment property, but they can close as fast as 7-12 days. For investment property experience, they look at the last 3 years of fix and flip projects or your experience in long-term real estate investing.
This is a great option if you’re looking for rental loans, fix to rent loans, new construction loans, multifamily loans, DSCR loans and hard money loans. They’re fast, easy to get a hold of and are well known nationwide, but they have a large presence in Florida.
JML Mortgage LLC
Best for: FHA and VA loans
NMLS #2032901
Website | (941) 780-7071
Jacy Bloom LaBadie operates JML Mortgage LLC in Sarasota, Florida, which specializes in conventional financing, such as FHA and VA loans. If you have the personal income to support additional properties, this is the best way to go.
As long as you can prove that your monthly income can support additional mortgage payments, an FHA loan is an ideal choice since it typically comes with lower interest payments. However, keep in mind that these loans come with strict guidelines and require you to submit tax returns, W-2’s, business tax returns (if any) and a full credit report.
JML Mortgage LLC is an ideal choice if you have high credit score and sufficient income to pay for your primary residence and an investment property. Jacy maintains high ratings on Google and Facebook reviews for thoroughness and transparency during the mortgage process. She is also frequently recommended on Sarasota Word of Mouth.
Visio Lending
Best for: Long-term loans for rental properties
Website | (888) 521-0353
Visio Lending is headquartered in Austin, Texas and is an ideal lender for buy and hold investors looking for long-term loans for vacation rental properties. They specialize in short-term and long-term investment properties in Sarasota, Florida.
Visio Lending offer DSCR loans, vacation home loans and long-term rental property loans. This is an ideal option for those looking to capitalize on snow bird season in Sarasota, Florida.
CoreVest
Best for: Business purpose loans
NMLS #1627183
Website | (305) 615-4696
CoreVest is an investment property lender and considers Florida one of its main markets. It has a competitive advantage since it offers many types of business purpose loans. One such loan is a business line of credit, which can be used to buy an investment property.
For example, CoreVest offers an option for short-term investors who rent their properties on AirBnb, VRBO, etc. This is a huge competitive edge, since many lenders in Sarasota, exclusively look at long-term rental income when they appraise rental properties.
These loans are typically called AirDNA loans, but many lenders refer to them differently. Ask for a DSCR loan that takes into account short-term rental income from AirBnb. Many times there will be additional fees since these AirDNA reports can be expensive, but at least you can get funding based on local rental market rates.