Hard Money Lenders in Billings, MT | Capital Kings LLC
Capital Kings LLC · Non-QM Mortgage Broker

Hard Money Lenders inBillings, Montana

Fix and flip, DSCR rental and new construction financing for Billings 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 Billings deal

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

Reviewed by Micah Foster, Founder & CEO, September 2026

Price a Billings deal right now

Prefilled with a realistic Billings deal. Change any number and it reprices on the programs that lend in Montana, with the same math as our term sheets.

Sizing your flip on the same terms as the term sheet. Get a real term sheet →

Financing a deal in Billings

Billings is the biggest city in Montana and the trade center for a huge slice of the northern plains, so the housing market runs on medicine, refining, rail and ranch money rather than tourism. That keeps it calmer than the mountain towns to the west. The older, cheaper housing sits on the South Side, in the North Elevation near downtown and in the Heights across the Yellowstone, and that's where most flips happen. The West End is newer and pricier, with builders still adding streets past Shiloh.

Billings is a patient market, and the flip has to be built for that. Houses here take their time to sell compared to the hot Western cities, so the carry is a real cost and the purchase has to leave room for it. Hail is the other deciding line. Storms roll off the Rims every summer, insurers scrutinize older roofs, and a roof inside the rehab budget is almost standard on pre-1970 houses.

What a Billings deal looks like on paper

Billings example: $210,000 purchase, $55,000 rehab, $350,000 after repair value, 700 credit, 4+ completed flips. The engine puts that borrower on the 7.5% Down, 3+ Flips program at 9.99%. Imagine a 1940s South Side bungalow: a new roof after the last hailstorm, updated electrical, a kitchen and a basement bath. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$245,125
Cash to close$36,495
Proof of funds to show$63,589
Where the $36,495 goes
  • Down payment (7.5% of purchase plus rehab)You$19,875
  • Origination (1.63%)Lender$3,983
  • Lender fees (flat)Lender$2,790
  • Broker fee (1%)Broker$2,451
  • Title and closing (estimate at Texas rates)Title$3,547
  • Prepaid interest (15 days)Lender$781
  • Property insuranceInsurer$2,518
  • AppraisalAppraiser$550

Interest while you rehab: $1,583 a month on the $190,125 funded at closing, $2,041 once every draw is out. Proof of funds is cash to close plus $14,850 of rehab reserve and $12,244 of interest reserve. Sample borrower, sample address; the sheet is issued by the same engine as the borrower’s instant term sheet.

Fix and flip programs in Billings

Swipe the table for rates, credit and terms →

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
Experienced Investor Rate115% of purchase680+2+ completed flips9.00%0.75%75% of ARV12-24 months7-14 days
First Flip, 10% Down210% of purchase + rehab660+First flip OK9.99%2%75% of ARV12 months21-30 days
7.5% Down, 3+ Flips37.5% of purchase + rehab660+3+ completed flips9.99%1.5%75% of ARV12 months21-30 days
5% Down, 5+ Flips45% of purchase660+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
  1. Rate and origination are the program floor; two completed projects in the last 36 months preferred.
  2. Rate 9.99% with 2% to 2.25% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. 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.
  3. Rate 9.99% with 1.5% to 1.75% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. 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.
  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% with 2% to 3% origination, set per file. Purchase plus rehab must fit under 70% of ARV.

Origination has a $2,000 minimum on most programs (a few lenders set a higher one, noted above) and our broker fee is 1% with a $2,000 minimum and a $10,000 maximum. These are the numbers our term sheets use as of October 2026. Strong credit, cash and a track record can price lower through specific lenders in the network.

Where Billings prices sit right now

Before we price a Billings 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 Billings median sale price at $390,000 for the three months ending August 2026, up 0.5% from a year earlier, with homes selling after 61 days on the market on average.

Median sale price, Billings (Redfin, 3 months to Aug 2026)$390,000
Change from a year earlier (Redfin)+0.5%
Average days on market, Billings (Redfin)61

Sources: Redfin, Billings housing market

How a Billings file actually gets priced

The river and the Rims split Billings into markets that don't comp against each other. A Heights ranch is priced by Heights sales, the South Side by the South Side, and a West End comp dropped into a 59101 file won't survive the appraisal. We use recent closings from the same side of town, check how long those comps sat, and treat anything that needed a price cut as the honest ceiling. On the older bungalows we also want a look at the foundation and the sewer line.

The Yellowstone River floodplain touches the South Side and the lower Heights, and ice jams have pushed the river out of its banks before, so check the flood map. Hail and wind are routine insurance claims here, and a roof near the end of its life will show up in the buyer's inspection. Montana's clay soils move with the freeze and thaw, so settled slabs and cracked basement walls are common. The refineries on the east edge matter to some buyers, and permits run through the city's building division.

Who buys your finished Billings deal

Finished Billings houses under the city median sell to nurses, refinery and rail workers and first-time buyers, many on FHA or VA, which puts weight on a clean inspection. The West End and the newer Heights subdivisions compete with builders, so a resale flip up there needs a better location or a sharper price. Rents are steady because the two hospital systems and the regional service economy keep people coming, and a DSCR refinance works on a lot of South Side and Heights houses.

What happens after you apply

Apply once and the whole Billings 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.

The full walkthrough is on how it works, and you can tour the borrower portal before you apply.

What we fund in Billings

Fix and flip

10%down on a first flip
Rates
from 9.00% at 680+ credit with 2+ completed flips
With experience
0% down with 2+ completed flips, purchase plus rehab under 70% of ARV
Rehab
100% funded, paid in draws
Fix and flip loans in Montana →

Rental (DSCR)

7.00%rates from, 30-year fixed
Qualify on
the rent, no W-2s or tax returns
Down
from 20% at 700+ credit
Good for
buy-and-hold, and the refinance when a flip becomes a rental
DSCR loans in Montana →

New construction

95%of cost with a financed interest reserve, after 1 completed build
Rates
from 8.49% with 5+ completed builds
First build
85% of cost with a GC who has 5+ builds
Builds
single family to small multifamily
New construction loans in Montana →

Where we lend in Billings

We broker deals across the whole Billings market. The submarkets investors ask us about most are South Side (59101), The Heights (59105), North Elevation and downtown (59101 / 59102), West End (59102), Midtown and the Poly Drive area (59102) and Far West End (59106).

How long does a Billings loan take to fund?

You send the address, purchase price, rehab budget and your ARV, which takes about five minutes and no credit pull. We take it to the lenders in our network that fit it and are licensed in Montana, and the rate, origination, leverage and cash to close come back side by side. Plan on 7-14 days with completed flips and 21-30 days on a first flip. We stay on title and the lender through funding.

Billings hard money FAQ

Do you lend hard money in Billings?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Billings 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 Montana, and the numbers come from the same engine that prices our instant term sheet.
Which fix and flip programs apply in Billings?
As of October 2026: Experienced Investor Rate (15% down, from 9.00%, 2+ completed flips); 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, 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). 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 Billings hard money loan close?
In Montana, once the file is complete, the programs for investors with completed flips close in 7-14 days (10-14 on 5% down with 5+ flips, 21-30 on 7.5% down with 3+ flips) and a first flip on the 10% down program closes 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 Billings flip?
The worked example on this page is a $210,000 Billings purchase with a $55,000 rehab and a $350,000 after repair value at 700 credit, 4+ completed flips: $19,875 down (7.5% of purchase plus rehab) and $36,495 total cash to close, with $63,589 of proof of funds to show the lender. 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 Billings?
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 Billings fix and flip loan?
The lowest credit floor among the Billings programs is 620, on 100% financing (under 70% of ARV) with 2+ completed flips. A first flip needs 660 or higher. The lowest rate here, 9.00%, needs 680+ credit and 2+ completed flips. Depending on the program, 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 Billings flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way a Billings 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.
Do you have a first-time flipper program in Billings?
Yes. In Montana a first flip can be priced at 10% down with 660+ credit (from 9.99%). Programs that need completed flips: 15% down from 9.00% with 2+ flips; 7.5% down from 9.99% with 3+ flips; 5% down from 9.99% with 5+ flips; and 100% financing from 9.50% with 2+ flips when purchase plus rehab fits under 70% of ARV. The worked example on this page assumes an investor with a few finished flips; set the calculator to “This is my first” to price a Billings first flip.
Why does a Billings flip need a longer timeline than a hot market?
Because homes here take longer to go under contract, and the interest keeps running while they do. We build the hold on what the local comps actually took to sell, not on a best case. A tight scope, a purchase with margin in it, and a list price set against the block keeps the carry from eating the profit.
Micah Foster
Micah Foster
Founder & CEO, Capital Kings LLC
Micah brokers Non-QM and hard money loans for real estate investors across 38 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.

What to read before you sign a term sheet

Hard money near Billings: Missoula. More Montana city guides: Bozeman, Great Falls and Helena. Or see everything we fund in Montana.

Ready to fund your Billings deal?

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