Hard Money Lenders in Cedar Rapids, IA | Fix & Flip Loans | Capital Kings LLC
Broker, not a lender

Hard Money Lenders inCedar Rapids, Iowa

Fix and flip, DSCR rental and new construction financing for Cedar Rapids 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 Cedar Rapids deal

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

Reviewed by Micah Foster, Founder & Mortgage Broker · September 2026
How we work

What you get working with us

400+
Lenders we shop your deal across
7 to 10
Days to close, typical
100%
Of rehab funded, released in draws
9.00%
Rates from, in Iowa
Run the numbers

Price a Cedar Rapids deal right now

Prefilled with a realistic Cedar Rapids deal. Change any number and it reprices instantly on the lanes licensed in Iowa, 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 Cedar Rapids

Cedar Rapids is a manufacturing and food-processing city on the Cedar River, and it flips differently from Des Moines two hours west. Houses here are cheaper, they sell fast, and a lot of the stock east of the river is 1950s and 60s ranches and small bungalows that need a full refresh rather than a gut. It’s also a city still living with two disasters: the 2008 flood and the 2020 derecho. Every flip here gets looked at through both. Iowa lanes want completed flips, so this is a page for investors with a few deals already finished.

Speed is the Cedar Rapids story. Finished houses have been going pending within days, which means a fairly priced flip exits quickly and your carry stays short. The catch is the buy. With inventory that tight, the discount has to come from condition, an estate, or an owner who doesn’t want to deal with a roof or a basement, not from waiting out a slow listing. The east side ranches around Kenwood Park, Noelridge and Mound View are the cleanest turns. Wellington Heights and Oakhill Jackson are cheaper and older, with more upside and more surprises behind the plaster.

A real term sheet

What a Cedar Rapids deal looks like on paper

Cedar Rapids example: $110,000 purchase, $40,000 rehab, $215,000 after repair value, 730 credit, 4 to 10 flips completed. The engine puts that borrower on the 5% Down, 3+ Flips program at 11.00%. Think a 1950s ranch near Noelridge Park: roof and gutters, a kitchen, one bath, flooring and a furnace, finished for a young family. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$144,500
Cash to close$16,817
Proof of funds to show$36,765
Where the $16,817 goes
  • Down payment (5%)You$5,500
  • Origination (2%)Lender$2,890
  • Doc prepLender$749
  • Broker fee (1%)Broker$2,000
  • Title and closingTitle$3,050
  • Prepaid interest (15 days)Lender$653
  • Property insuranceInsurer$1,425
  • AppraisalAppraiser$550

Interest while you rehab: $958 a month on the $104,500 funded at closing, $1,325 once every draw is out. Proof of funds is cash to close plus $12,000 of rehab reserve and $7,948 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 Cedar Rapids

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
Experienced Investor Rate115%680+2+ completed flips9.00%0.75%75% of ARV12-24 months7-14 days
5% Down, 3+ Flips25%600+3+ completed flips11.00% to 12.00%2%75% of ARV12 months7-14 days
5% Down, 5+ Flips35%660+5+ completed flips9.99% to 10.99%2%75% of ARV9-24 months10-14 days
  1. Rate and origination are the program floor; two completed projects in the last 36 months preferred.
  2. Origination steps down with experience: 1.5% at 5+ deals, 1% at 8+.
  3. Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.

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 September 2026. Strong credit, cash and a track record can price lower through specific lenders in the network.

Market read

What the Cedar Rapids comps say

Redfin puts the Cedar Rapids median sale price at $224,000 for the three months ending August 2026, about 5% above a year earlier, with homes selling in around 6 days. Zillow’s home value index for the city is $212,086. The older east side pockets sit under that: Zillow puts Wellington Heights at $131,062, Taylor at $137,416 and Noelridge Park at $172,145, while Cedar Valley runs $209,445.

Median sale price, Cedar Rapids (Redfin, 3 months to Aug 2026)$224,000
Days on market, Cedar Rapids (Redfin)6
Zillow home value index, Cedar Rapids (Aug 2026)$212,086
Zillow home value index, Wellington Heights$131,062
Zillow home value index, Noelridge Park$172,145
Zillow home value index, Cedar Valley$209,445

Sources: Redfin, Cedar Rapids housing market · Zillow, Cedar Rapids home values · Corridor Business Journal, flood protection progress (2025-08-11) · City of Cedar Rapids, housing inspections

Underwriting

How a Cedar Rapids file actually gets priced

The spread between neighborhoods is wide for a city this size. Zillow’s values for Wellington Heights and Taylor sit well under Cedar Valley and Lincolnway Village, and appraisers treat the river as a real line, so we comp east side houses against east side sales and the west side against the west. We use closed sales from the last 90 days. On any house in the 2008 flood footprint, which covers Time Check, Czech Village and parts of downtown and New Bohemia, we look at the flood history, whether the house was substantially repaired after 2008, and what flood insurance will cost the next buyer, because that premium shows up in what they can pay.

The Cedar River crested far above its old record in June 2008 and put water across a huge share of the city, downtown and both banks included. The city has been building a permanent flood control system since, with walls, levees, pump stations and gates going up in phases on both banks; the west side, including Time Check, is further behind, and property acquisition there is still going on. Check the address against the current map and the construction plan. In August 2020 a derecho tore off roofs and siding across the whole city, and a lot of the fast repairs that followed were patch jobs; the city moved rental inspections from every five years to every three after it saw the damage. Have a roofer and an inspector look at anything re-roofed in late 2020.

The exit

Who buys your finished Cedar Rapids deal

The finished Cedar Rapids house sells to a local buyer: a plant or hospital worker, a young family, a first-time buyer on an FHA loan. Those buyers move fast when the price is right and they’re careful about flood risk, so a dry house outside the 2008 footprint is the easiest sale in town. Marion and Hiawatha are the new-construction competition on the north edge. Rental demand is steady and a lot of the city’s single-family stock already rents, so a DSCR refinance works on the cheaper east side streets when the sale price comes in soft. Just remember the city’s rental permit and inspection cycle if you go that way.

After you apply

Your whole loan, in one portal

Apply once and the whole Cedar Rapids 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 Cedar Rapids

Fix & Flip

Purchase plus 100% of rehab, released in draws. The core product in Cedar Rapids.

From 9.00% · as little as 5% down · 2+ flips

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 Cedar Rapids

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

Kenwood Park and Noelridge (52402)Wellington Heights and Oakhill Jackson (52403)Taylor and Cedar Valley (52404)Time Check and the Northwest Area (52405)Mound View (52402)Czech Village and New Bohemia (52401 / 52404)
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 Iowa, 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

7 to 10 days typical. We stay on title and the lender through funding.

Questions

Cedar Rapids hard money FAQ

Do you lend hard money in Cedar Rapids?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Cedar Rapids 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 Iowa, and the numbers come from the same engine that prices our instant term sheet.
Which fix and flip programs apply in Cedar Rapids?
As of September 2026: Experienced Investor Rate (15% down, from 9.00%, 2+ completed flips); 5% Down, 3+ Flips (5% down, from 11.00%, 3+ completed flips); 5% Down, 5+ Flips (5% down, from 9.99%, 5+ 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 Cedar Rapids hard money loan close?
Most Cedar Rapids fix and flip files close in 7 to 10 business days. Clean files with title opened and the appraisal ordered early can close in as few as 5. The delays we see are almost never the lender, they are title issues and slow document returns on the borrower side.
How much do I need to bring to close on a Cedar Rapids flip?
The worked example on this page is a $110,000 Cedar Rapids purchase with a $40,000 rehab and a $215,000 after repair value at 730 credit, 4 to 10 flips completed: $5,500 down (5%) and $16,817 total cash to close, with $36,765 of proof of funds to show the lender. 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 Cedar Rapids?
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 Cedar Rapids fix and flip loan?
The lowest credit floor among the Cedar Rapids programs is 600. The best pricing needs 700 or higher, and it improves again at 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. Note that every priced Cedar Rapids lane wants at least 2 completed flips; a first flip is placed per file.
Can I refinance a Cedar Rapids flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way a Cedar Rapids 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.
Will you lend on a Cedar Rapids house that flooded in 2008?
Often, yes. A house that was properly rebuilt after 2008 can be a fine flip, and some of the best-priced stock in Time Check and Czech Village is exactly that. What we need is the story: what was replaced, whether the city required elevation or substantial improvement work, where the house sits relative to the flood control system, and a flood insurance quote. The next buyer’s lender will ask the same questions, so we’d rather have the answers before you buy.
Is Cedar Rapids a good market for an experienced flipper from out of state?
It can be, because houses turn quickly and entry prices are low. The work is in finding the deal, since good inventory doesn’t sit, and in getting a local contractor who knows derecho-era roofs and old basements. Iowa lanes want completed flips, so bring your track record with the file. If you’re coming from Des Moines or Chicago, expect a buyer who is price sensitive and careful about flood history.
Who you are working with
Micah Foster
Founder & Mortgage Broker
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 Cedar Rapids deal →
Keep reading

Before you sign anything

Hard Money
Points, fees & rate: how to compare hard money lenders
Read article →
Draws
How construction draws and the rehab holdback actually work
Read article →
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 →
Hard money in Des Moines →Hard money in Chicago →All Iowa coverage →

Ready to fund your Cedar Rapids deal?

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

Start application →Get a pre-approval letter