Hard Money & Construction Loans for Palm Bay, FL Investors

Palm Bay is the most populous city in Brevard County and the largest by land area. SpaceCoast Unlimited helps investors and builders find ground-up construction, hard money, private money, and DSCR loans for Palm Bay investment property, and we work with investors nationwide.

Financing Palm Bay investment deals

Whether you're building a spec home on a lot, putting up a build-to-rent house, or renovating an older property, we review your deal and connect you with lenders we work with whose guidelines may fit it.

We're a loan broker, not a lender. Lenders make all credit decisions and set every term. We're based in Melbourne, Palm Bay's neighbor to the north.

Building on a Palm Bay lot: ground-up construction financing

Spec homes and build-to-rent on existing platted lots

In 1959, General Development Corporation bought and platted extensive tracts of land in Palm Bay for a large residential project known as Port Malabar, and the company went on to lay out many of the city's streets. For investors and small builders, that history can mean opportunities to build a spec home to sell or a new house to hold as a rental.

Ground-up construction loans are designed for this kind of project. Funds are commonly released in draws as you hit construction milestones, rather than all at once. Learn more about ground-up construction loans.

What lenders ask for

Construction lenders want to see a well-planned project. Requirements vary by lender, but lenders commonly ask for:

Detailed construction plans and specifications
An itemized construction budget
A construction timeline with milestones
Experience with similar projects, which some lenders weigh more heavily than others

Having these ready before you request a quote can make your project easier to review.

Lenders will also ask about your exit. For a spec home, that usually means selling the finished house. For build-to-rent, it often means renting the home and refinancing into a long-term rental loan. Knowing which path you plan to take, and having comparable sales or rents to support it, helps lenders understand the project.

Lot considerations

Not every lot is the same. Before you buy, confirm road access, available utilities, and any site work the build will need, such as clearing or fill, and include those costs in your budget. A lot that looks inexpensive can cost more to build on once site work is added. How lenders view a particular lot varies by lender, so share those details up front.

Fix & flip and rental loans in Palm Bay

Not building? Palm Bay investors also finance existing homes.

Purchase + rehab

Buying an older home to renovate and resell? Hard money loans are short-term, asset-based loans that typically focus on the purchase price, rehab budget, and after-repair value. See hard money loans.

Private money

When a Palm Bay deal doesn't fit a standard program, private lenders with their own guidelines may be an option. See private money loans.

Hold and refinance with DSCR

Finished a build or a rehab and want to keep it as a rental? Many investors refinance into a DSCR loan, where many programs qualify you mainly on whether the rent covers the monthly payment, taxes, insurance, and association dues. See DSCR loans.

Neighborhoods and growth areas investors ask about

Palm Bay has historically grown to the south and west, and its newer sections are mostly west of Interstate 95. Two names you'll see often:

Port Malabar: the large residential development platted by General Development Corporation starting in 1959.
St. Johns Heritage Parkway: an arterial roadway along the city's western limits, with construction beginning in 2012 and a portion opening in 2015.

Every lot and neighborhood is different. Lenders will review the specific property, so do your homework on utilities, access, and comparable sales or rents.

How it works

Share your project. Tell us about the lot or property, your budget, and your plan through our quote form.
We review it against the guidelines of lenders we work with.
A lender issues terms if it's interested in the project.
You close with the lender. You decide whether to move forward.

Palm Bay investor loan FAQs

Can I get a construction loan to build on a Palm Bay lot I already own?

It depends on the lender. Some construction lenders work with borrowers who already own the lot. Share the lot details, plans, and budget so we can look for lenders whose guidelines may fit.

Do lenders finance homes on well and septic?

Financing for homes on well and septic varies by lender. Tell us about the lot's utilities up front so we can look for lenders whose guidelines may fit.

What should I have ready before I request a quote?

The property address, purchase price, rehab budget, ARV, your completed flips or experience, and an estimated credit score.

Can I refinance a finished Palm Bay build into a DSCR rental loan?

Often, yes, once the home is complete and rented. Eligibility depends on the DSCR lender, the property, and your file.

Is SpaceCoast Unlimited a Palm Bay hard money lender?

No. We're a Melbourne-based loan broker, not a lender. We connect investors with lenders, and lenders make all credit decisions.

Get a quote for your Palm Bay project

Planning a build or a flip in Palm Bay? Tell us about it.

Request a free quote · Call 321-499-2652 · Follow us on Facebook

Explore more: Service Areas · Brevard County · Melbourne · Loan Programs

SpaceCoast Unlimited LLC · Mailing address: 4880 Stack Blvd Ste E6 #806, Melbourne, FL 32901 · 321-499-2652 · tommy@spacecoastunlimited.com · Mon–Fri 8am–5pm ET.

SpaceCoast Unlimited, LLC is a loan broker, not a lender. We do not fund loans, extend credit, or make credit decisions. All loans are made by independent third-party lenders and are subject to lender approval, terms and conditions. Business-purpose loans for real estate investors only; we do not offer consumer or owner-occupied residential loans. See our full Disclaimer.

SpaceCoast Unlimited is a loan broker, not a lender. All loans subject to lender approval. Business-purpose loans only.