Broker, not a lenderHard Money Lenders inErie, Pennsylvania
Fix and flip, DSCR rental and new construction financing for Erie 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 an Erie deal right now
Prefilled with a realistic Erie deal. Change any number and it reprices instantly on the lanes licensed in Pennsylvania, using the same engine behind our term sheets.
Financing a deal in Erie
Erie is a lake city with low prices and a lot of buyers chasing them. Redfin scores it most competitive, with homes selling in about ten days. The stock is mostly frame houses from 1900 to 1950, plenty of them split into two units over the years, plus brick on the older blocks near downtown. Lake-effect snow and wind off the water shape every scope here. In Pennsylvania a first flip can be priced at 15% down with 700+ credit (from 8.99%) or 10% down with 660+ credit (from 9.99%). Programs that need completed flips: 7.5% down from 9.99% with 3+ flips; 5% down from 12.00% with 3+ flips or from 9.99% with 5+ flips; and 100% financing from 9.50% with 2+ flips when purchase plus rehab fits under 70% of ARV.
Erie is a low price, low margin market, and that’s the whole game. A finished house sells quickly, but the ceiling is modest, so the rehab budget has almost no slack. The west side, Glenwood and the neighborhoods near the hospitals and colleges sell to owner occupants; parts of the east side and the Bayfront blocks lean toward landlords. We like Erie deals with a short, clear scope bought well under value, and we pass on full guts where the finished price can’t carry the cost.
What an Erie deal looks like on paper
Erie example: $115,000 purchase, $55,000 rehab, $235,000 after repair value, 730 credit, first flip. The engine puts that borrower on the Best Rate program at 9.49%. Say a 1940s frame two-story in the Glenwood area: new roof and gutters, kitchen, bath, furnace, insulation and a basement that needs drainage work. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.
- Down payment (15% of the purchase)You$17,250
- Origination (0.5%)Lender$2,000
- Lender fees (flat)Lender$1,989
- Broker fee (1%)Broker$2,000
- Title and closing (estimate at Texas rates)Title$3,091
- Prepaid interest (15 days)Lender$596
- Property insuranceInsurer$1,615
- AppraisalAppraiser$550
Interest while you rehab: $773 a month on the $97,750 funded at closing, $1,208 once every draw is out. Proof of funds is cash to close plus $14,850 of rehab reserve and $7,248 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 Erie
| Program | Down payment | Min credit | Experience | Rate | Origination | Max loan | Term | Close |
|---|---|---|---|---|---|---|---|---|
| Best Rate | 15% | 700+ | First flip OK | 8.99% to 9.49% | 0.5% | 70% of ARV | 12 months | 5-14 days |
| 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, 3+ Flips3 | 5% | 600+ | 3+ completed flips | 12.00% | 2% | 75% of ARV | 12 months | 7-14 days |
| 5% Down, 5+ Flips4 | 5% | 660+ | 5+ completed flips | 9.99% to 10.99% | 2% | 75% of ARV | 9-24 months | 10-14 days |
| 100% Financing, 2+ Flips5 | 0% (100% financing) | 620+ | 2+ completed flips | 9.50% to 12.00% | 2.5% | 70% of ARV | 9 months | 7-14 days |
- 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 from 12%, set per file. Origination steps down with experience: 1.5% at 5+ deals, 1% at 8+.
- 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 Erie prices sit right now
Before we price an Erie 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 Erie median sale price at $173K for the three months ending September 2026, up 8.4% on a year earlier, with homes selling in about 10 days.
| Median sale price, Erie (Redfin, 3 months to Sep 2026) | $173,000 |
| Change on a year earlier (Redfin) | Up 8.4% |
| Days on market, Erie (Redfin) | 10 |
Sources: Redfin, Erie housing market · City of Erie, Residential Rental Registration
How an Erie file actually gets priced
The Erie ARV comes from renovated houses in the same neighborhood, sold in the last few months, with singles compared to singles and up-down doubles compared to doubles. Millcreek and the suburbs sell higher, and an appraiser won’t carry a city house on those comps. For a two-unit, the appraiser will also look at rent. If the house has been rented, we check whether it was registered with the city, since unregistered units are common and violations follow the house.
Lake-effect snow loads roofs and gutters and drives ice dams, so look hard at the attic, the roof deck and the upstairs ceilings. Many basements are damp, and older frame houses tend to have little insulation, old wiring and lead paint. Erie registers every non-owner occupied unit each year and inspects them on a two year cycle, and a newly bought rental has a short window to register, so a flip that ends as a hold should be ready for that inspection.
Who buys your finished Erie deal
The Erie buyer is a local first-time buyer: someone working at the hospitals, the insurance offices, the rail equipment plant or the colleges, many using FHA or USDA financing in the outer neighborhoods. They want a warm, dry, updated house more than high-end finish. Rents are solid against these prices, so a well-bought double or single can also be held and refinanced into a DSCR loan (a rental loan qualified on the rent, not your tax returns).
Your whole loan, in one portal
Apply once and the whole Erie 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 Erie
Fix & Flip
Purchase plus 100% of rehab, released in draws. The core product in Erie.
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 Erie
We broker deals across the whole Erie 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 Pennsylvania, 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
5-14 days to fund. We stay on title and the lender through funding.
Erie hard money FAQ
Do you lend hard money in Erie?
Which fix and flip programs apply in Erie?
How fast can an Erie hard money loan close?
How much do I need to bring to close on an Erie flip?
Do you fund the rehab budget in Erie?
What credit score do I need for an Erie fix and flip loan?
Can I refinance an Erie flip into a rental loan?
Is Erie too cheap for a hard money flip?
What does the snow do to an Erie rehab budget?
Before you sign anything
Ready to fund your Erie deal?
Submit your scenario in under 3 minutes. We shop it and come back with real terms, not a generic rate sheet.