Boyd Hard Money Loans—An In-Depth Review


Boyd Hard Money Loans (founded as Boyd Management, LLC) is a direct private lender for real estate deals. The company is based in Winter Park, Florida but lends across Florida, Georgia, and some parts of North Carolina. In this article, we will explore the following:

  • Product options at Boyd Hard Money Loans
  • Application process
  • Customer testimonials
  • Other hard money lenders in the area

Loan Programs at Boyd Hard Money Loans

The Boyd group offers hard money or asset-backed loans. The general rule for qualifying for these products is that the lender should have a high degree of security from the underlying asset. For example, if you have your eyes set on a property worth $5,000,000, the lender can fund you for a loan-to-value (LTV) ratio of up to 70%, i.e., $3,500,000. That way, their risk exposure is mitigated even if the property value drops in the future.

At Boyd, you can get loans for a variety of real estate scenarios, but the company does not provide extensive details about its products on the website. Six of the most common programs offered by Boyd are:

  1. Fix-and-flip
  2. Cash-out refinance
  3. Rate and term refinance
  4. Ground-up construction
  5. Investment property acquisition
  6. Cross-collateralization


Boyd’s fix-and-flip loans can finance properties that can be sold for higher values within 1–2 years after considerable renovation. You can borrow up to 75% LTV, calculated on the appraised as-is value or purchase price—whatever is lower.

Source: Nothing Ahead

The company considers your credit score and rehab experience to determine a safe-to-lend LTV for your situation. Currently, Boyd can work with credit scores as low as 400, but you may have to settle for a much smaller LTV in that case. You can meet the LTV by making a down payment or taking borrowed funds from another lender. Keep in mind that Boyd has to hold the lien in the first position even if you use other lenders to cover your deal.

Check out the various lending criteria for Boyd’s fix-and-flip loans:

AspectBoyd Fix-and-Flip Program
Areas servicedFlorida
North Carolina
Property typeSingle-family home
Multi-family home
*Note that owner-occupied properties are not eligible
Property requirementMust have a clear and marketable title
Should be held in the name of a corporation, trust, or LLC
Property appraisal, inspection, and surveyRequired
Funding limitNot specified
Interest ratesNot explicitly stated, but they start at 12% according to estimates
Tenure1–2 years
Monthly paymentsInterest-only

Cash-Out Refinance

A cash-out refinance program works for borrowers who want to get rid of their existing mortgage and draw out some extra cash from the property. Your old mortgage will be replaced by a new one, but the money you owe is larger. Boyd doesn’t provide much info about its cash-out refinance program, but it primarily follows the following two caveats:

  1. The LTV should not exceed 65% of the as-is value of the property
  2. The borrower must have 20% equity remaining in the property after the deal

The calculation is a bit complicated, so here’s an example to help you understand—let’s say you owe $2,800,000 on your current mortgage, and the original balance was $5,000,000. Based on the values, your equity is 44%. If you go to Boyd for a cash-out refinance, the lender can offer a cash-out of up to 24% (44%–20%) so that your post-refinance equity is 20%.

Your new mortgage would be determined by the current value of the property. Say, if the latest market value of the home is $6,000,000, your cash-out refinance sum will be:

  • Old mortgage balance + equity cash-out
  • $2,800,000 + 24% of $6,000,000, i.e., $1,440,000 = $4,240,000

The lender will do another check to see if the final lending amount exceeds 65% of the as-is property value ($6,000,000), which is $3,900,000. Since $3,900,000 is less than $4,240,000, your maximum borrowing limit would be $3,900,000.

Rate and Term Refinance

Boyd’s rate and term refinance allows you to replace your existing mortgage with the exact same outstanding balance. You can tweak the structure of the new loan by:

  • Asking for a better rate
  • Switching from fixed to floating rate or vice versa
  • Postponing the repayment date (and paying interest for a longer tenure)

Ground-Up Construction

Boyd offers ground-up or new construction loans for building speculative or spec homes, which are essentially move-in-ready homes made with no particular buyer in mind. A builder can also go for the product if they have the contract to build a custom-made home for a specific buyer. Further details of Boyd construction loans are not available online.

Investment Property Acquisition

If you’re looking to purchase a new investment property, Boyd can finance up to 90% of the price. The tenure is typically up to two years, allowing you to repay by selling the property. You have to get another refinance if you want to hold on to the property for longer.

Alternatively, you can also discuss a purchase-and-hold rental property loan with Boyd. The group’s investment property loans are also open to foreign nationals as long as they don’t use a second mortgage.

Source: Derek Lee


Boyd also offers cross-collateral loans—these products allow you to secure more than one loan backed by the same collateral. While info about the program is not available online, these products can be risky for the borrower, as defaulting on any particular loan can cause you to lose the property.

How To Acquire Funding With the Boyd Group

You have to fill out an online request form to get in touch with Boyd group lenders. The form can be accessed by navigating to the Contact Us tab on the homepage. The website also has an Apply For Loan tab, but the option didn’t work for us at the time of writing this article.

Source: Boyd Management, LLC

The Boyd team gets back to you within 48 hours to discuss the deal. Keep in mind that the company only services non-owner-occupied real estate, so do not apply for direct-to-consumer purchases and refinances.

Boyd is not particularly transparent about pricing components on their website. The group vaguely mentions that a $100,000 loan for a Florida property (single-unit) would cost $12,000 (12%) in annual interest payments. The origination costs could be 3% to 6%, depending on the property type and location—contact the lender to get the latest pricing info.

Customer Testimonials of Boyd Hard Money Loans

Most hard money lenders in Florida can be evaluated based on their Google service reviews. Boyd Hard Money Loans has a rating of 3.7 based on three Google reviews. The group also has two on-site testimonials. The positive reviews of the lender include:

  • Timely financing with minimal paperwork
  • Tolerance for divorce liens
  • Easy home renovation deals

Although we don’t have many reviews to work with, the group’s non-transparency can be an issue for potential borrowers. Make sure you have a profitable deal before applying to ensure you get the best treatment with the group.

The immediate Florida market has several private lenders (many rated 5 stars) that uphold transparency throughout their lending process, often providing better rates and more convenient packages than Boyd. Explore several lenders to get a clear picture of the median rates and pricing for your deal. Start with one of the top lenders—Hard Money Loan Solutions!

Get in Touch With Hard Money Loan Solutions for Hands-On Real Estate Financing!

Hard Money Loan Solutions (HMLS) has a knack for taking the stress out of real estate financing. The lending group is managed by successful real estate veterans who use their expertise to help borrowers reach their goals with fast and painless funding. HMLS can help with purchase, refinance, construction, and all other real estate transactions in between! HMLS works with:

  • Investors (commercial or residential properties)
  • Rental property owners
  • Homeowners (for consumer deals)
  • Property developers
  • Business owners and LLCs
  • Foreign nationals

The group stands out in the private financing market by offering tailor-made deals. Apply for a loan, and let the team set you up with the most cost-efficient package within two weeks! 

Source: Tima Miroshnichenko

HMLS does not have confusing lending criteria or hidden cost elements. All programs follow similar lending parameters, regardless of your borrowing intent. Get more details from the following table:

ParameterHMLS Criteria
Loan principal$100,000–$50,000,000
Interest rates and monthly payments9.99%–12% (rates depend on your LTV requirement)
Interest-only payments
Tenure1–3 years
LTV ratioUp to 70% of the appraised value or purchase price of the property (whichever is lower)
Down paymentNot required
Processing time3–14 days
Origination fee2% (or 2 points)
Eligible propertyFamily homes (any number of units)
Retail and commercial buildings
Special-use properties

HMLS has no minimum credit score or DTI ratio requirements—you qualify for funding based on the profitability or existing equity in the property, whatever suits your request.

HMLS Loan Programs and Benefits

HMLS offers tailor-made loan packages for the following scenarios:

Source: Google Reviews

Hard Money Loan Solutions maintains a consistent stream of 5-star reviews on Google. The group is favored by clients because of:

  • High tolerance for bad credit scores, divorce liens, and other blemishes
  • End-to-end transparency and ethical lending practices
  • Minimal paperwork
  • Fast responses
  • Approachable and perceptive team
  • On-time delivery

Unlike most lenders, the group never levies hidden costs like processing fees, funding fees, and similar junk fees on clients. This can help you save up to $8,000 in the long run. Talk to an HMLS lender to get fresh quotes relevant to your deal.

Save Time With the Online Application Process at HMLS

At HMLS, you can cut down on wait time significantly by dropping a simple application online. Check out how to proceed:

  1. Complete the HMLS online application form with the following details:
    1. Basic business info
    2. Property type
    3. Requested amount
    4. Custom message (optional)
  2. Talk to the lender (they’ll call you, usually within a day) and answer their questions
  3. Review the loan package offered
  4. Accept or reject the offer

HMLS requires property appraisal to design reasonable packages within state guidelines. Once the group agrees to fund your deal/project, you’re guaranteed to receive the funds. HMLS lenders are 100% customer-focused, so reach out to them anytime if you want free consultancy or are looking to modify your existing loan.

Besides HMLS and Boyd, here are some other private lenders in the Florida area—click on the relevant grid to explore:

BridgeWell CapitalCapital Funding Financial, LLCEquityMax
RBI Private LendingM&M Private Lending GroupMonroe Funding Corp
Taylor Made LendingHard Money Lenders IOBenworth Capital
New Wave LoansTitan FundingLord Mortgage & Loan
Birchwood LoansInsource FundingDKC Lending
HardMoney CompanyThe Associates Home Loans of Florida, Inc.A to Z Capital
LendingOneHG MortgageLondon Financial

Avoid getting loans from unverified companies with no online presence—such lenders are often linked with mortgage scams.

Featured image source: Taylor Grote

You may also like

Leave a Comment

Call Me Now