How can we help?

How Can We help?

Frequently Asked Questions

A loan that is just like a bank or credit union loan – but better because we base our decisions on your ability to repay, not your credit score or lots of documentation.

Benworth Private Loans are funded by capital from private investors. This makes the qualification requirements a lot more flexible and the closing process quicker.

For Benworth, this means for loans to purchase or refinance property, borrowers can take up to 2 years to repay. For second mortgages, borrowers can take up to 5 years to pay back the loan. 

It compares the size of a loan to the value of a property that you want to buy or already own. You can calculate this by taking your current loan balance and dividing it by the current value of the property.

No difference at all. The difference is only in the words that you use to describe the loan.

The past is in the past. A bank’s previous decision will not affect your ability to qualify for a Benworth Private Loan.

The amount is primarily based on the value of the property compared to the loan amount. See our loan calculators for an idea of how much you can borrow.

If you want to purchase property in Florida, do any, do any of these scenarios sound like your situation?

      •You’re looking for short-term financing until another property is sold or leased.

      •You’re waiting for a lump sum payment from an investment or legal matter to use the cash to purchase a property.

      •You want to close on a transaction quickly to avoid competitive bids, secure a property or lock-in an attractive price.

      •A bank or credit union has declined your request for a loan.

If you said yes to any of the above, a Benworth Private Loan may be right for you.

If you’re looking to refinance or get a second mortgage on a property located in Florida, do any of these scenarios sound like your situation?

      •You need cash to upgrade your property.

      •You just bought a property and are looking for cash to do some renovations.

      •You own property and are looking for cash to cover the cost of repairs or upgrades.

      •You need cash for a large purchase, tuition or other life event.

      •You just bought a property and are looking to buy some new furniture or home electronics like a really big screen TV.

If you said yes to any of the above, a Benworth Private Loan may be right for you.

Benworth Private Loans are ideal for situations such as fix and flips, land loans and construction loans. This type of loan is also ideal for foreign investors seeking low-documentation loans, borrowers with less than perfect credit or buyers who need to close quickly. Benworth Private Loans can be funded within days instead of weeks.

Yes! Unlike a traditional loan, qualifying for a private loan is based primarily on your ability to repay the loan and less on your credit score. Even if you’ve experienced adverse credit events, a short sale or even some types of bankruptcies, you may still qualify for a Benworth Private Loan.

You just need to have sufficient equity in the property you’re using as collateral. Calculate your borrowing ability. Click a link below to calculate your borrowing ability.



Second Mortgage

First, a faster approval process means you’ll usually get a loan decision within hours.

Additionally, with faster closings funds are usually available in a matter of days. In many instances, you can get a competitive edge by having the funds available to secure a favorable price on real estate.

Plus, the interest rate is fixed.
That means you can plan to repay a fixed amount every month instead of a variable amount. And if you want to pay the loan off early, no problem. While some lenders charge a penalty for prepaying the loan, Benworth Capital doesn’t charge a prepayment penalty.

As we don’t have to perform extensive credit checks or review your credit history, a loan decision can be made much more quickly.

The documents you’ll need will vary by loan type. What we can tell you for sure is that it won’t be a lot. You’ll need a valid government photo ID to validate your identity. If you’ll be holding the property in an LLC or other legal entity, we’ll also need articles of organization at closing.

No, but you can if you choose to.

No worries. Benworth Capital Private Loans don’t require a lot of documents which may not be issued in your country. We will just need a valid government photo ID and other documents to verify your identity.

You can get a Benworth Private Loan for residential and commercial property in Florida, including single-family residential, commercial, land and industrial.

You can borrow funds to purchase residential property, acquire property to operate your business, or invest in income-producing real estate projects.

You need a down payment that’s equal to 35% of the property value.

Your loan-to-value ratio must be no more than 65%.

Here’s a quick way to calculate:

Current loan balance divided by Current Value of property = LTV

Multiply the LTV by 100 to get a ratio (or percent)

If your LTV ratio is greater than 65%, you can pay down your current loan amount to qualify. Or consider a Benworth second mortgage for an amount up to $25,000.

Have a question that you don’t see answered? Ask us here.


A Licensed Lender

Benworth Capital is a top provider of alternative credit solutions for residential and commercial for properties located in Florida.

About Benworth

At Benworth Capital, we see things differently than a bank. Whether you’re buying, refinancing or refinancing or using the equity in your home to access cash, we see the potential. That's why we have become the top provider of alternative loans in South Florida since we opened our doors in 2008. Loans are funded by private investors who, like you, have an eye for opportunity.

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