State reference
Does a hard money lender need a licence in Florida?
It depends on whether the borrower is a person or an entity, and how the property is classified.
FLORIDA
Depends on borrower and collateral
The answer turns on whether the borrower is an individual or an entity and on how the property is classified. Ask the regulator about your specific structure.
Florida does not resolve to a single answer. The requirement turns on whether the borrower is an individual or an entity, and on how the property is classified.
That makes Florida one of the states where the structure of your own transaction changes the answer - so a general rule from a forum post is worth very little here. Ask the Office of Financial Regulation about your specific structure.
Who supervises this in Florida
Florida Office of Financial Regulation. Regulator names change; the CSBS directory is the authoritative list, and NMLS Consumer Access is where you check a specific company.
The exact question to ask
Regulators answer this for free, and a narrow question gets a useful answer where a broad one does not. Send or say this:
For a business-purpose loan secured by investment property in Florida, where the borrower is an LLC, does the lender require a licence?
Ask the Florida Office of Financial Regulation
Checking a lender operating in Florida
- Search the entity on NMLS Consumer Access. In Florida a lender claiming to be licensed who is not listed has answered your question.
- Confirm the entity is registered and in good standing with the Florida Secretary of State.
- Search the county recorder's grantee index where the property sits, for liens they have actually recorded. Free, public, and the most under-used check available.
- Ask the regulator the question above.
- Never send money anywhere except a licensed title or escrow company — see advance-fee loan scams.
Questions people actually ask
Do you need a license to be a hard money lender?
It depends entirely on the state and on the purpose of the loan, and this is one of the most commonly misstated facts in the whole vertical. Broadly: business-purpose loans secured by investment property are exempt from most consumer mortgage licensing in many states, while several states license this activity regardless of purpose, and a loan secured by a borrower's own home is a different regulatory animal almost everywhere.
We are not going to publish a fifty-state answer we have not verified state by state - that research is underway and will be published with citations. In the meantime, the reliable move is to check the specific entity on NMLS Consumer Access and ask the state regulator directly. Here is how.
What are the requirements for a hard money lender?
As a matter of law, whatever the state where the property sits requires - which varies from nothing beyond ordinary business registration to full mortgage lender licensing with bonding and examination. As a matter of practice, a legitimate lender will have a registered entity, a real address, named principals, a track record you can verify, and no objection to you checking any of it.
Which states require a license for commercial lending?
Commercial and business-purpose lending licensing is genuinely inconsistent across states, and the answer also turns on whether the loan is secured by a dwelling, who the borrower is, and whether a broker is involved. Rather than guess, verify the entity on NMLS and contact the state regulator - our state regulators guide shows the process.