Broker, not a lenderHard Money Lenders inBloomington, Indiana
Fix and flip, DSCR rental and new construction financing for Bloomington 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.
Prefer to talk it through? Call or text Micah at (281) 636-5682.
What you get working with us
Price a Bloomington deal right now
Prefilled with a realistic Bloomington deal. Change any number and it reprices instantly on the lanes licensed in Indiana, using the same engine behind our term sheets.
Financing a deal in Bloomington
Bloomington is an Indiana University town in limestone country, and it prices like a college town, well above the rest of southern Indiana. The flippable houses are the 1920s to 1950s cottages, bungalows and small Tudors in the neighborhoods around downtown, Prospect Hill, McDoel Gardens, Bryan Park and Elm Heights. Many carry local limestone in their foundations or trim. Demand comes from faculty, IU Health staff and families who want to be close to campus without living next to a student rental.
Bloomington moves slowly for a college town. Houses take a couple of months to sell and prices dipped from a year earlier, so carry costs and timing matter more here than the low inventory suggests. The other big factor is the rental market: a large share of houses near campus are student rentals, and an owner-occupant buyer will pay more for a house on a block that isn’t dominated by them. Pick the street as carefully as the house.
What a Bloomington deal looks like on paper
Bloomington example: $210,000 purchase, $55,000 rehab, $370,000 after repair value, 730 credit, first flip. The engine puts that borrower on the First Flip, 10% Down program at 9.99%. For example, a 1940s limestone-trimmed cottage near Bryan Park in 47403 with two small bedrooms, an unfinished attic, an aging furnace and a kitchen that needs to be gutted. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.
- Down payment (10% of purchase plus rehab)You$26,500
- Origination (2.13%)Lender$5,068
- Lender fees (flat)Lender$2,790
- Broker fee (1%)Broker$2,385
- Title and closing (estimate at Texas rates)Title$3,514
- Prepaid interest (15 days)Lender$979
- Property insuranceInsurer$2,518
- AppraisalAppraiser$550
Interest while you rehab: $1,528 a month on the $183,500 funded at closing, $1,986 once every draw is out. Proof of funds is cash to close plus $14,850 of rehab reserve and $11,913 of interest reserve. Sample borrower, sample address; the sheet is issued by the same engine as the borrower’s instant term sheet.
What we can fund in Bloomington
| Program | Down payment | Min credit | Experience | Rate | Origination | Max loan | Term | Close |
|---|---|---|---|---|---|---|---|---|
| First Flip, 10% Down1 | 10% | 660+ | First flip OK | 9.99% | 2% | 75% of ARV | 12 months | 21-30 days |
| 7.5% Down, 3+ Flips2 | 7.5% | 660+ | 3+ completed flips | 9.99% | 1.5% | 75% of ARV | 12 months | 21-30 days |
| 5% Down, 5+ Flips3 | 5% | 660+ | 5+ completed flips | 9.99% to 10.99% | 2% | 75% of ARV | 9-24 months | 10-14 days |
| 100% Financing, 2+ Flips4 | 0% (100% financing) | 620+ | 2+ completed flips | 9.50% to 12.00% | 2.5% | 70% of ARV | 9 months | 7-14 days |
| Fastest Close (3 days) | 10% | No minimum | First flip OK | 11.99% | 2% | 75% of ARV | 6 months | 72 hours |
- 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.
- 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.
- Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
- 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.
Where Bloomington prices sit right now
Before we price a Bloomington 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 Bloomington median sale price at $320K for the three months ending September 2026, down 4.5% from a year earlier, with homes selling in about 73 days, the same as a year ago.
| Median sale price, Bloomington (Redfin, 3 months to Sep 2026) | $320K |
| Change from a year earlier (Redfin) | -4.5% |
| Days on market, Bloomington (Redfin) | 73 |
Sources: Redfin, Bloomington housing market
How a Bloomington file actually gets priced
Monroe County appraisers have a smaller pool of sales to work with, so a few comps carry a lot of weight. We set the after repair value off renovated owner-occupied sales in the same neighborhood, and we separate them from investor sales of student rentals, which trade on rent rather than finish. Bedroom count matters for both exits, but a bedroom added without permits won’t count. Comps from Ellettsville or the county outside city limits price differently and rarely belong in the file.
Monroe County sits on karst, limestone bedrock riddled with sinkholes and underground drainage, so check for settling, cracked footings and water entering the basement. The city requires a rental occupancy permit and inspection from its Housing and Neighborhood Development department, and zoning limits how many unrelated adults can share a house in most residential districts, which caps student rental income. Prospect Hill and McDoel Gardens are local historic districts with exterior review. Building permits go through the Monroe County Building Department.
Who buys your finished Bloomington deal
The finished Bloomington house sells to IU faculty and staff, IU Health and Cook Medical employees, retirees moving back to a college town and young families. They want updated systems, a usable second bath and character kept intact. If the resale stalls, a near-campus house can rent, but the occupancy limits and permit rules set the ceiling on that income. Run the DSCR math with the legal occupancy, not the number of beds you could fit.
Your whole loan, in one portal
Apply once and the whole Bloomington 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.
What we fund in Bloomington
Fix & Flip
Purchase plus 100% of rehab, released in draws. The core product in Bloomington.
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.
New Construction
Ground-up for builders and infill developers, with a draw schedule matched to the build timeline.
Where we lend in Bloomington
We broker deals across the whole Bloomington market. These are the submarkets investors ask us about most:
From deal to funded
Send the deal
Address, purchase price, rehab budget and your ARV. Three minutes, no credit pull.
We shop it
Your scenario goes to the lenders in our network that actually fit it and are licensed in Indiana, not all 400 at once.
Real terms back
Rate, origination, leverage and cash to close side by side, so you can compare on total cost.
Close
As little as 72 hours on the fastest program, 7-30 days on the others. We stay on title and the lender through funding.
Bloomington hard money FAQ
Do you lend hard money in Bloomington?
Which fix and flip programs apply in Bloomington?
How fast can a Bloomington hard money loan close?
How much do I need to bring to close on a Bloomington flip?
Do you fund the rehab budget in Bloomington?
What credit score do I need for a Bloomington fix and flip loan?
Can I refinance a Bloomington flip into a rental loan?
Can I flip a house in Bloomington and rent it to students if it doesn’t sell?
Why does Bloomington cost so much more than other southern Indiana cities?
Before you sign anything
Ready to fund your Bloomington deal?
Submit your scenario in under 3 minutes. We shop it and come back with real terms, not a generic rate sheet.