Hard Money Lenders in St. Petersburg, FL | Fix & Flip Loans | Capital Kings LLC
Broker, not a lender

Hard Money Lenders inSt. Petersburg, Florida

Fix and flip, DSCR rental and new construction financing for St. Petersburg investors. We do not lend our own money, we shop your deal across a 400+ lender network and come back with real terms you can compare on total cost.

Get a term sheet →Price a St. Petersburg deal

Prefer to talk it through? Call or text Micah at (281) 636-5682.

Reviewed by Micah Foster, Founder & CEO · October 2026
How we work

What you get working with us

400+
Lenders we shop your deal across
72 hrs
To close at the fastest, 5-14 days typical
100%
Of rehab funded, released in draws
8.99%
Rates from, in Florida
Run the numbers

Price a St. Petersburg deal right now

Prefilled with a realistic St. Petersburg deal. Change any number and it reprices instantly on the lanes licensed in Florida, using the same engine behind our term sheets.

Enter your numbers to see the program, loan size and cash to close.
Get a real term sheet →Same math as our term sheet. No credit pull, nothing saved.
The market

Financing a deal in St. Petersburg

St. Petersburg is a built-out peninsula city, which means almost every flip is a renovation of an older house. Downtown, the hospitals and a growing tech and finance scene drive buyers, and the flip stock is 1920s to 1950s bungalows and block houses in Kenwood, Disston Heights and the neighborhoods west of downtown.

Since Helene and Milton in 2024, the St. Pete market has split by elevation. Houses on the high ridge through Kenwood, Disston Heights and Allendale stayed dry and sell at a premium. Low neighborhoods near the water flooded, and many of those houses now sit under the 50% rule, where the rehab limit decides whether you renovate, elevate or tear down. We pull the elevation and the storm history before we talk value.

A real term sheet

What a St. Petersburg deal looks like on paper

St. Petersburg example: $260,000 purchase, $70,000 rehab, $475,000 after repair value, 730 credit, first flip. The engine puts that borrower on the Best Rate program at 9.49%. Picture a 1940s frame bungalow in Historic Kenwood on high ground, with original pine floors, a 1990s kitchen, one bath and an aging shingle roof. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$291,000
Cash to close$54,493
Proof of funds to show$87,201
Where the $54,493 goes
  • Down payment (15% of the purchase)You$39,000
  • Origination (0.5%)Lender$2,000
  • Lender fees (flat)Lender$1,989
  • Broker fee (1%)Broker$2,910
  • Title and closing (estimate at Texas rates)Title$3,774
  • Prepaid interest (15 days)Lender$1,135
  • Property insuranceInsurer$3,135
  • AppraisalAppraiser$550

Interest while you rehab: $1,748 a month on the $221,000 funded at closing, $2,301 once every draw is out. Proof of funds is cash to close plus $18,900 of rehab reserve and $13,808 of interest reserve. Sample borrower, sample address; the sheet is issued by the same engine as the borrower’s instant term sheet.

Programs

What we can fund in St. Petersburg

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
Best Rate15%700+First flip OK8.99% to 9.49%0.5%70% of ARV12 months5-14 days
First Flip, 10% Down110%660+First flip OK9.99%2%75% of ARV12 months21-30 days
7.5% Down, 3+ Flips27.5%660+3+ completed flips9.99%1.5%75% of ARV12 months21-30 days
5% Down, 3+ Flips35%600+3+ completed flips12.00%2%75% of ARV12 months7-14 days
5% Down, 5+ Flips45%660+5+ completed flips9.99% to 10.99%2%75% of ARV9-24 months10-14 days
100% Financing, 2+ Flips50% (100% financing)620+2+ completed flips9.50% to 12.00%2.5%70% of ARV9 months7-14 days
Fastest Close (3 days)10%No minimumFirst flip OK11.99%2%75% of ARV6 months72 hours
  1. Rate 9.99% at 2 to 2.25 points by credit; buy down to 8.99%. Loans under $150,000 add 0.5% to the rate and half a point, under $100,000 1.5% and a point. Under 680 credit the loan caps at 87.5% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
  2. Rate 9.99% at 1.5 to 1.75 points by credit; buy down to 8.99%. Loans under $150,000 add 0.5% to the rate and half a point, under $100,000 1.5% and a point. Under 680 credit the loan caps at 90% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
  3. Rate from 12%, set per file. Origination steps down with experience: 1.5% at 5+ deals, 1% at 8+.
  4. Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
  5. Needs 2 completed flips in the last two years and about $75,000 in verified liquidity. Rate 9.5% to 12% and 2 to 3 points, set per file. Purchase plus rehab must fit under 70% of ARV.

Origination has a $2,000 minimum on every program and the broker fee is 1% with a $2,000 minimum. These are the numbers the instant term sheet uses as of October 2026. Strong credit, cash and a track record can price lower through specific lenders in the network.

What we check first

Where St. Petersburg prices sit right now

Before we price a St. Petersburg flip, we look at where sales in the city sit today. Your block can run well above or below these numbers, so treat them as the starting point, not the answer.

Redfin puts the St. Petersburg median sale price at $425K for the three months ending September 2026, up 6.5% on a year earlier, with homes selling in around 61 days. The median price per square foot is $313.

Median sale price (Redfin)$425K
Change from a year earlierup 6.5%
Days on market (Redfin)61
Median price per square foot$313

Sources: Redfin, St. Petersburg housing market

Underwriting

How a St. Petersburg file actually gets priced

Appraisers in St. Pete now ask how a house did in the 2024 storms, and buyers do too. We set the after repair value on renovated sales from the same neighborhood and the same flood zone, and we don’t let a dry-ridge sale price a low-lying house. On older homes we plan for a four-point inspection and wind mitigation report, since insurers ask for both before they will quote.

Pull the flood zone, the base flood elevation and any storm damage claims on every parcel. The city enforces the substantial improvement rule after a flood: if repair plus improvement costs half or more of the building’s value, the house has to meet current elevation rules. Kenwood and other historic districts review exterior changes. Older roofs and electrical panels are also common reasons insurers decline, so budget for both.

The exit

Who buys your finished St. Petersburg deal

The finished St. Pete house sells to a young professional, a remote worker or a retiree moving down who wants to be close to downtown and the water without being in it. Many shop by insurance cost now, so a new roof and a house on high ground sell faster. Rent is strong, and a DSCR loan on a long-term rental is a realistic fallback.

After you apply

Your whole loan, in one portal

Apply once and the whole St. Petersburg loan lives in the borrower portal: the term sheet you can accept and sign in the browser, where the loan stands, one place for documents, and the list of what the lender is still waiting on. These are real screens from the portal.

Capital Kings borrower portal: Welcome to your file
Welcome to your fileSign in and the term sheet is waiting, with every fee and who it goes to.
Capital Kings borrower portal: Where the loan stands
Where the loan standsApplication, appraisal, title, underwriting, clear to close.
Capital Kings borrower portal: Run the deal again
Run the deal againThe analyzer priced off your real numbers, before and after the appraisal.
Capital Kings borrower portal: What the lender still needs
What the lender still needsEvery open condition, what clears it, and who it is waiting on.
What happens after you apply →Tour the borrower portal
Loan products

What we fund in St. Petersburg

Fix & Flip

Purchase plus 100% of rehab, released in draws. The core product in St. Petersburg.

15% down from 8.99% at 700+ credit · 10% down from 9.99% at 660+ credit

DSCR Rental

Qualifies on the property’s rent, not your W-2. The usual exit when a flip becomes a hold, and the long-term financing on a BRRRR.

30-year · no income docs

New Construction

Ground-up for builders and infill developers, with a draw schedule matched to the build timeline.

Land + build financing
Coverage

Where we lend in St. Petersburg

We broker deals across the whole St. Petersburg market. These are the submarkets investors ask us about most:

Historic Kenwood (33713)Disston Heights and Central Oak Park (33713)Crescent Lake and Euclid-St. Paul (33704)Allendale Terrace (33704)Childs Park (33711)Lealman (33714)
Process

From deal to funded

01

Send the deal

Address, purchase price, rehab budget and your ARV. Three minutes, no credit pull.

02

We shop it

Your scenario goes to the lenders in our network that actually fit it and are licensed in Florida, not all 400 at once.

03

Real terms back

Rate, origination, leverage and cash to close side by side, so you can compare on total cost.

04

Close

5-14 days to fund, as little as 72 hours on the fastest programs. We stay on title and the lender through funding.

Questions

St. Petersburg hard money FAQ

Do you lend hard money in St. Petersburg?
Yes. Capital Kings is a broker, not a direct lender, so we shop your St. Petersburg scenario across a 400+ lender network and bring back real terms instead of one lender’s rate sheet. The programs on this page are the ones whose lenders are licensed in Florida, and the numbers come from the same engine that prices our instant term sheet.
Which fix and flip programs apply in St. Petersburg?
As of October 2026: Best Rate (15% down, from 8.99%); First Flip, 10% Down (10% down, from 9.99%); 7.5% Down, 3+ Flips (7.5% down, from 9.99%, 3+ completed flips); 5% Down, 3+ Flips (5% down, from 12.00%, 3+ completed flips); 5% Down, 5+ Flips (5% down, from 9.99%, 5+ completed flips); 100% Financing, 2+ Flips (100% financing when purchase plus rehab fits under 70% of ARV, from 9.50%, 2+ completed flips); Fastest Close (3 days) (10% down, from 11.99%). Rehab is funded 100 percent in draws on every one of them, and we shop the file against the rest of the network before anything is signed.
How fast can a St. Petersburg hard money loan close?
As little as 72 hours. Most St. Petersburg fix and flip files fund in 5-14 days once the file is complete, and the 72-hour programs close that fast when title and insurance are ready. The First Flip, 10% Down program and the 7.5% Down, 3+ Flips program close in 21-30 days. The biggest delays are usually title issues or missing borrower documents, so getting those started early makes a big difference.
How much do I need to bring to close on a St. Petersburg flip?
The worked example on this page is a $260,000 St. Petersburg purchase with a $70,000 rehab and a $475,000 after repair value at 730 credit, first flip: $39,000 down (15% of the purchase) and $54,493 total cash to close, with $87,201 of proof of funds to show the lender. The lowest down payment for a first flip in St. Petersburg is 10% down from 9.99% at 660+ credit. Investors with a track record can go to 0% down (100% financing) from 9.50% at 620+ credit with 2+ completed flips, when purchase plus rehab fits under 70% of ARV, and you still bring the closing costs in cash. Rehab is funded 100 percent through draws in every case. Run your own numbers in the calculator above, or send us the deal and we will price it.
Do you fund the rehab budget in St. Petersburg?
Yes, 100 percent of the rehab is funded, but it is a holdback released in draws rather than cash at closing. You pay for each phase, request a draw, an inspector verifies the work, and the lender reimburses. That means you need working capital to float the first phase, which is the single most common thing new investors miss on their first deal.
What credit score do I need for a St. Petersburg fix and flip loan?
One St. Petersburg program has no credit floor at all, it is priced on speed rather than credit. The lowest rate here, 8.99%, needs 760+ credit. Depending on the program, rates step down at 760 credit and origination steps down at 700 and 740. Credit matters less here than on a conventional loan because the deal carries the file, but it moves your rate and your leverage, so know where you stand before you make offers.
Can I refinance a St. Petersburg flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way a St. Petersburg flip becomes a hold. A DSCR loan qualifies on the property’s rental income rather than your W-2, so once the rehab is done and it is leased, you refinance out of the short-term hard money loan into 30-year financing. Worth deciding before you start, because it changes what finish level makes sense.
Can I flip a flood-damaged house in St. Petersburg?
Sometimes, but the 50% rule decides it. If the repairs and improvements cost half or more of the building’s value, the house has to be brought up to current flood elevation, which usually means raising it or rebuilding. Get the building value and the base flood elevation before you offer, and size the scope to work under the rule.
Which St. Pete neighborhoods stayed dry in 2024?
Higher ground runs through the middle of the city, including much of Kenwood, Disston Heights and Allendale, and those areas generally did better. The low areas near the bay and the inlets took the most water. Check each parcel’s elevation and storm history rather than going by the neighborhood name.
Who you are working with
Micah Foster
Founder & CEO
Micah Foster
Micah brokers Non-QM and hard money loans for real estate investors across 37 states from his base in Texas. He founded Capital Kings to give investors a broker who shops the market on their behalf instead of pitching one lender product.
Send Micah your St. Petersburg deal →
Keep reading

Before you sign anything

Loan Cost
Dutch vs standard interest: what it really costs you
Read article →
Cash Needed
Cash to close on a flip: the number most investors miss
Read article →
Term Sheet
How to get an instant hard money term sheet
Read article →
Broker
Direct hard money lender vs broker: the honest breakdown
Read article →
Hard money in Tampa →Hard money in Cape Coral →Hard money in Orlando →All Florida coverage →

Ready to fund your St. Petersburg deal?

Submit your scenario in under 3 minutes. We shop it and come back with real terms, not a generic rate sheet.

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