8 Best Hard Money Lenders in Indiana


Hard money lenders in Indiana are private money lenders that provide competitive loan options for borrowers.

Key Terms

  • Hard money lenders in Indiana offer short-term loans to finance fix and flip and other types of higher risk real estate.
  • These lenders secure the loan with the property, which offers some risk reduction and helps to keep interest rates competitive.
  • Indiana hard money lenders still have eligibility requirements, but many borrowers will find them to be easily met.

Indiana is a midwestern state that’s home to over 6.7 million people. It has a very diverse economy that’s supported by several metro areas. Its major economic industries include business, energy, and transportation. Over the years, the state has grown to become an important resource for education and finance as well. Indiana’s largest metro areas include Indianapolis, Fort Wayne, Evansville, and South Bend, each of which has a unique footprint but offers a diverse range of high-end to moderate lifestyles. With a rich culture and vibrant population growth, this is a community that has quite a bit to offer.

For those considering investing in the real estate market in Indiana, whether for long-term or short-term opportunities, there are some outstanding reasons to pay close attention to the area. First, real estate here tends to be competitively priced, with the median sale price of a home at around $224,000. Some areas, especially around the major metro areas, have a dense population with numerous multi-family homes. Single-family homes, ranging from ultra-high-end to starter homes, exist here, pushing that average home price much lower and higher overall.

When it comes to homeownership, the U.S. Census Bureau reports that 76.8% of people own their homes in Indiana, and 23.2% rent. Of those rental properties in the state, about 6.5% of them are vacant. By comparison to other states, this is an average level of vacancies, which could mean there are opportunities for home investment here for those looking to purchase and flip homes or purchase and maintain them as rentals.

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How hard money loans work in Indiana

A hard money loan is a type of secured real estate loan issued by private investors or a group of private investors working as a group. These loans are often accessible to those who would otherwise not qualify for a traditional big bank loan due to numerous factors. To be clear, hard money lenders in Indiana have rules and eligibility requirements, but they are more likely to lend to harder-to-finance borrowers and properties. This includes fix and flip homes, rental investments, and other commercial real estate loans. They are also used as bridge loans.

Hard money loans typically are short term loans, lasting from 1 to 5 years. These loans tend to provide borrowers with access to the funds they need to both purchase and, in some cases, renovate the property. Often, hard money loans in Indiana will feature terms to make it easy for property investors to obtain the loan quickly so that they can purchase lucrative real estate opportunities. It’s important to note that the short term nature of these loans is designed to allow for the fix or flip market as well as to ensure that lenders refinance the loan later if they plan to maintain the property long term.

These private money loans can be helpful for many reasons. For example, in a fix and flip hard money loan, the lender can obtain the loan without having to put any or a large amount of money down. That means the flipper’s capital remains liquid, so they can continue to renovate and flip properties. They also work as bridge loans, which allows for the borrower to receive the funds right away, even with the plan of refinancing into a more affordable loan in a few years. Rental hard money loans are another example. Borrowers can use these to purchase properties with two to four units in some situations or purchase vacation destination homes to use as rental income.

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8 Top Indiana hard money lenders

Some lenders only offer hard money loans to experienced investors, while other programs can lend to those that are pursuing their first real estate investment.

1. BridgeWell Capital 

BridgeWell Capital got started in 2008 and, according to their website, has funded over $500 million in real estate investment deals. They lend throughout the midwest and eastern part of the country and offer the typical suite of private money financing.

We contacted BridgeWell Capital to learn more about their private lending business and here are some of the highlights:

  • Rental loans require 25% down
  • Residential and commercial properties ok
  • No tax returns or income verification
  • 5-year rental loan term
  • Fix and flip loans can cover 100% of rehab costs
  • Up to 75% ARV
  • No interest on undrawn rehab funds
  • No pre-payment penalty

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

2. LendingOne

LendingOne focuses exclusively on real estate investor loans. Started in 2014 by Bill Green and Matthew Neisser, LendingOne acts as a direct private lender offering products like portfolio rental loans, DSCR loans, fix and flips, multifamily and new construction loans.

We contacted LendingOne to learn more about their private lending business and here are some of the highlights:

  • For rental property loans, they can finance from $75K to $5 million with up to 80% LTV for purchase and refinance and up to 75% LTV for cash out refinancing.
  • For fix and flip, they can finance up to 90% of the purchase and repair budget with interest only payments for up to 24 months and no pre-payment penalties.

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

3. Stratton Equities

Stratton Equities is a nationwide direct hard money mortgage lender for real estate investors. Founded by Michael Mikhail in 2017, Stratton Equities has over five years of experience in the private lending market.

We reached out to Stratton Equities to get more information about their hard money lending program and here are some highlights:

  • Loan amounts from $100,000 up to $5 million
  • Non-owner investment properties only
  • Single-Family, Condos, Townhomes, Multi-Family, Commercial, Mixed-Use, Office, Retail, Industrial and Warehouse are all ok
  • Up to a 75% LTV
  • Rates start at 7.25%
  • Interest only payments
  • Loan terms are 9-24 months
  • Foreign nationals are eligible
  • No prepayment penalty option is available

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

4. EquityMax

EquityMax is based out of Florida and most of its business in the state but is able to lend throughout the United States. Founded by Brad Emmer in 1990, EquityMax has decades of experience as a hard money lender.

We reached out to EquityMax to learn more about their hard money loan rates and these are the key highlights that you need to know:

  • Single Family Homes
  • 1-4 Multi-Unit Properties
  • Condos and Townhomes ok
  • Commercial property and Industrial Warehouses OK
  • Direct lender that has decision making over financing deals.
  • Can originate loans to individuals, LLCs, corporations, land trusts and self-directed IRAs.
  • No prepayment penalties
  • No minimum credit score required

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

5. LendSimpli

LendSimpli is a hard money lender based in Tampa, Florida. They can lend nationally in most states but may not be able to lend if the property is in a rural area. Founded by Brenden Crampton and Matthew Davies in 2018, they have nearly four years of experience in the private lending real estate investing market.

We reached out to LendSimpli to get more details about their bridge loan product and this is what we found:

  • Loan amounts up to $5 million for 1-4 unit properties
  • Loan amounts up to $20 million for 5+ unit properties
  • Single family (1-4 units)
  • Multifamily (5-20 units)
  • No owner-occupied properties
  • Loan terms 12-24 months
  • Interest-only payments with rates starting at 8.50%
  • Max LTC is 90% of project costs
  • Minimum credit score is 660
  • Prefer that you have at least two transactions in the past three years

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

6. Easy Street Capital

East Street Capital is based in Austin, Texas but lends nationwide except in North and South Dakota. Founded by Stephen Hagerman in 2016, Easy Street Capital has over six years of experience in the real estate investing world.

We reached out to Easy Street Capital to learn more about their hard money lending solutions and this is what we found:

  • Interest rates range from 6.9% – 10.9%
  • Points range from 2-3
  • There is a $1495 document fee
  • No minimum credit score required
  • Down payments of at least 10% required
  • Renovation financing ok
  • Fix and Flip loans do not typically have prepayment penalties

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

7. Fund That Flip

Fund That Flip is a hard money lender based in New York that focuses on short term bridge loans for real estate investors looking to flip properties. Founded by Matt Rodak in 2014, Fund That Flip lends in most states.

We contacted Fund That Flip to learn more about their bridge loan financing solutions and here is what we found:

  • Up to 80% LTC and 70% ARV ratios for your project
  • Rates start at 9.99%
  • Direct lender with discretionary capital
  • Construction projects ok
  • 10% down payment required

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

8. HouseMax Funding

HouseMax Funding is based out of Austin, Texas but has a national footprint when it comes to real estate industry lending. Started by Jeff Fetcher and Alex Morris, HouseMax provides asset-based loan financing to investors for real estate transactions.

We reached out to HouseMax to learn more about their hard money lending program and here is what we found:

  • Minimum loan amount is $75,000
  • Lends up to 75% of the after-repair value (APV)
  • 1-3 points origination charge
  • 3 months reserves required
  • Direct lender that approves loans internally and funds using their own private capital.
  • Lends in urban and suburban communities in all 50 states.
  • Goal is to close loans in 10 days or less.
  • Specializes in fix & flip loans, construction and rental loans
  • Multi-family and commercial properties are ok

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

How are Indiana hard money loans different from other loans?

Numerous differences exist between Indiana hard money loans and traditional loans. A good starting point is the interest rate. Hard money loans tend to have a slightly higher interest rate than what is found in a traditional, conventional mortgage. Due to the short-term nature of the loans and the higher risk, most lenders charge more to use these loans. However, their availability and access tend to make them a worthy investment.

A second difference is that these loans may be based on the after market value of a home rather than on the current condition. Since many of these homes need significant repair, Indiana hard money lenders base the value of the loan on what the expected value will be once the renovations or upgrades are made, providing borrowers with a bit more leeway when obtaining the funds and better access.

Another difference is in the speed of these loans. A typical conventional loan may take 60 to 90 days to close, and while it may be okay for a home buyer looking to move into their home, for an investor, that is simply too long. Hard money loans may often close within a few weeks instead, making them far more accessible overall to borrowers. This makes them an ideal choice for those situations when a key investment property becomes available and requires a faster close.

Hard money loans have eligibility requirements, but they may be different from other types of loans. That includes requiring good, though not always excellent, credit scores. Borrowers may need a down payment in situations, but unlike a conventional loan requiring 20 percent down, these typically have a much lower down payment requirement, and in some cases, there are few. Also, depending on the home itself, these loans may be accessible for those who are looking for access to funds without a lot of experience in owning and managing commercial or residential real estate. They can be an excellent overall investment for many borrowers.

If you’re looking to explore hard money in other states, check out our national overview of hard money lenders as a starting point in your search.

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Joshua Holt

Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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