Broker, not a lenderHard Money Lenders inEvansville, Indiana
Fix and flip, DSCR rental and new construction financing for Evansville 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 Evansville deal right now
Prefilled with a realistic Evansville 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 Evansville
Evansville sits on a big bend of the Ohio River, at the corner where Indiana meets Kentucky and Illinois, and it trades like a regional hub. The older east side, Bayard Park, Lincolnshire and the streets around Washington Avenue, has brick Tudors, colonials and bungalows from the 1920s and 30s. Jacobsville and the near north side hold smaller frame houses, and the West Side is its own tight-knit market. Flips here are about solid old houses at prices well under most of the state.
Evansville cooled this year. Prices slipped from a year earlier and houses are taking noticeably longer to sell, so this isn’t a market where a rising trend covers a thin buy. The flips that work now are bought at a real discount, renovated to what the block supports, and priced to sell in the first few weeks. Out-of-area investors chasing low prices sometimes overpay for houses on weak streets, and those are the ones still sitting.
What an Evansville deal looks like on paper
Evansville example: $115,000 purchase, $55,000 rehab, $240,000 after repair value, 730 credit, first flip. The engine puts that borrower on the First Flip, 10% Down program at 9.99%. Think of a 1930s brick two-story near Bayard Park in 47714 with plaster walls, an original bath, old wiring and a roof at the end of its life. Plenty of Evansville houses sell for less, so we used a bigger house with a fuller scope to keep the loan above the program minimum. 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$17,000
- Origination (2.13%)Lender$3,251
- Lender fees (flat)Lender$2,790
- Broker fee (1%)Broker$2,000
- Title and closing (estimate at Texas rates)Title$3,092
- Prepaid interest (15 days)Lender$628
- Property insuranceInsurer$1,615
- AppraisalAppraiser$550
Interest while you rehab: $816 a month on the $98,000 funded at closing, $1,274 once every draw is out. Proof of funds is cash to close plus $14,850 of rehab reserve and $7,642 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 Evansville
| 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 Evansville prices sit right now
Before we price an Evansville 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 Evansville median sale price at $155K for the three months ending September 2026, down 11.4% from a year earlier, with homes selling in about 25 days compared to 12 a year ago.
| Median sale price, Evansville (Redfin, 3 months to Sep 2026) | $155K |
| Change from a year earlier (Redfin) | -11.4% |
| Days on market, Evansville (Redfin) | 25 |
Sources: Redfin, Evansville housing market
How an Evansville file actually gets priced
Vanderburgh County appraisers use closed sales from the same part of town, and in Evansville east, west and north sides are close to separate markets. We set the after repair value on renovated sales of the same age and size within a few blocks, and we discount stale comps from the spring run-up given the softer prices. Newburgh, across the county line in Warrick County, prices higher and won’t carry an Evansville address. Watch for finished attics and basements that the county record doesn’t count.
The Ohio River levee and floodwall protect most of the city, but Pigeon Creek and low ground near the river still put some addresses in the flood zone, so pull the map early. Southwest Indiana is also close to the Wabash Valley and New Madrid seismic zones, and some buyers will ask about earthquake coverage. Older brick houses need tuckpointing, roof flashing and gutter work, and pre-1978 paint means lead-safe practices. Permits go through the Evansville-Vanderburgh County Building Commission, and the Riverside Historic District has its own preservation review.
Who buys your finished Evansville deal
The finished Evansville house sells to buyers working at Deaconess, Ascension St. Vincent, the University of Southern Indiana, the University of Evansville or the Toyota plant up in Princeton. They’re mostly first-time and move-up buyers using FHA, VA or conventional loans, and they want a garage, central air and a dry basement or crawl space. With prices soft, have the rental math ready. A DSCR refinance on a well-located three bedroom is a real fallback here.
Your whole loan, in one portal
Apply once and the whole Evansville 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 Evansville
Fix & Flip
Purchase plus 100% of rehab, released in draws. The core product in Evansville.
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 Evansville
We broker deals across the whole Evansville 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.
Evansville hard money FAQ
Do you lend hard money in Evansville?
Which fix and flip programs apply in Evansville?
How fast can an Evansville hard money loan close?
How much do I need to bring to close on an Evansville flip?
Do you fund the rehab budget in Evansville?
What credit score do I need for an Evansville fix and flip loan?
Can I refinance an Evansville flip into a rental loan?
Is Evansville a good market to flip in right now?
Does flood insurance matter on an Evansville flip?
Ready to fund your Evansville deal?
Submit your scenario in under 3 minutes. We shop it and come back with real terms, not a generic rate sheet.