Florida is building at record speed. According to the reports, Florida's population grew by over 365,000 people between 2022 and 2023. This influx is fueling a surge in construction projects in Florida, from single-family homes to sprawling commercial complexes.
However, while the market is booming, getting financing approved is one of the biggest hurdles developers face. High construction costs, strict lending requirements, and fast-moving timelines can cause delays or outright denials if you aren’t prepared.
If your construction projects in Florida need funding, understanding what lenders want — and preparing properly — can make all the difference.
Here’s how to make sure your new construction loan gets approved quickly and without headaches.
New construction loans aren't like traditional mortgages. They carry higher risk for lenders because the collateral — the property itself — doesn't exist yet.
This means lenders need more proof that the project will be completed on time and within budget.
A real estate lender offering new construction loans will typically require:
Without these basics, most hard money lenders in Florida will hesitate to fund the project.
Lenders will want a full picture of your financial health, including:
Even if you’re using hard money loans, showing financial responsibility can open doors to faster approvals and better loan terms.
You need to present:
Hard money lenders in Florida often want to see that you’re ready to build immediately, not six months from now.
Your construction budget should cover:
Lenders will also require a draw schedule — a plan showing how and when loan funds will be disbursed based on project milestones.
Choosing a licensed, insured builder with a solid reputation is essential. Lenders often ask for:
For larger construction projects in Florida, lenders may even perform background checks on your builder.
Most real estate lenders in Florida require an "as-completed" appraisal, estimating the future value of the finished property.
This appraisal must justify the loan amount you're requesting. If it doesn't, you might have to adjust your project scope or contribute more money upfront.
Before purchasing land or signing contracts, get pre-qualified for new construction loans. This gives you a better idea of your budget and shows sellers you’re serious.
Working with a hard money lender in Florida who specializes in new construction loans can save time. They typically move faster than banks and can work with investors who don't meet strict institutional lending criteria.
From architects to general contractors to project managers, having an experienced team helps reassure lenders that your project is low-risk.
Keep all documentation — financials, permits, contracts, plans — neat and ready for review. A lender who doesn’t have to chase down missing paperwork is more likely to approve your loan quickly.
Have a cash reserve ready. Lenders appreciate borrowers who plan for the unexpected. This makes you look less risky and more prepared.
Hard money loans are widely used across many types of construction projects in Florida, including:
Each project type comes with its own requirements and risks, but lenders generally look for the same strong foundation: clear plans, solid financials, and an experienced team.
Banks often take 60 to 90 days to approve a new construction loan — and may still deny it over minor issues. Hard money lenders in Florida offer a faster, more flexible option.
Benefits include:
This speed and flexibility make hard money loans attractive for many builders and investors eager to capitalize on Florida’s booming market.
If you're planning construction projects in Florida and want to get approved without unnecessary delays, InstaLend is ready to help. We specialize in fast, flexible new construction loans that support both residential and commercial developments across the state.
Our experienced hard money lenders understand the local market, lender requirements, and what it takes to get your project off the ground quickly. Whether you're building a single-family home or a multi-unit commercial complex, we work alongside you to create a smooth funding experience from start to finish. Don't let financing stand in the way of your construction goals — apply today and find out how easy and efficient funding your next Florida construction project can be.