Hard Money Lenders in Indianapolis, IN | Fix & Flip Loans | Capital Kings LLC
Broker, not a lender

Hard Money Lenders inIndianapolis, Indiana

Fix and flip, DSCR rental and new construction financing for Indianapolis 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 an Indianapolis deal

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

Reviewed by Micah Foster, Founder & CEO · October 2026
How we work

What you get working with us

400+
Lenders we shop your deal across
72 hrs
To close at the fastest, 7-30 days by program
100%
Of rehab funded, released in draws
9.50%
Rates from, in Indiana, with 2+ completed flips
Run the numbers

Price an Indianapolis deal right now

Prefilled with a realistic Indianapolis deal. Change any number and it reprices instantly on the lanes licensed in Indiana, 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 Indianapolis

Indianapolis is one of the few big metros where a first flip can still start well under the city median. The old streetcar neighborhoods ringing downtown are full of 1900s to 1920s bungalows, foursquares and doubles, many with basements. Homes here sell faster than in most of the cities we cover, which helps the carry.

The Indianapolis deal is decided by who else is bidding. Large rental funds have bought heavily across Marion County, and they compete for the same cheap houses a flipper wants. Where they cluster, owner-occupant comps get thin. We look at who bought the last few houses on the block before we set the plan, because a street of rentals appraises and sells differently than a street of owners.

A real term sheet

What an Indianapolis deal looks like on paper

Indianapolis example: $120,000 purchase, $55,000 rehab, $245,000 after repair value, 730 credit, first flip. The engine puts that borrower on the First Flip, 10% Down program at 9.99%. Think a 1920s bungalow in Bates-Hendricks with a fieldstone basement, a dead furnace, old knob and tube runs and a kitchen from another era. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$157,500
Cash to close$31,611
Proof of funds to show$54,328
Where the $31,611 goes
  • Down payment (10% of purchase plus rehab)You$17,500
  • Origination (2.13%)Lender$3,347
  • Lender fees (flat)Lender$2,790
  • Broker fee (1%)Broker$2,000
  • Title and closing (estimate at Texas rates)Title$3,114
  • Prepaid interest (15 days)Lender$647
  • Property insuranceInsurer$1,663
  • AppraisalAppraiser$550

Interest while you rehab: $853 a month on the $102,500 funded at closing, $1,311 once every draw is out. Proof of funds is cash to close plus $14,850 of rehab reserve and $7,867 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 Indianapolis

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
First Flip, 10% Down110%680+First flip OK9.99%2%75% of ARV12 months21-30 days
7.5% Down, 3+ Flips27.5%680+3+ completed flips9.99%1.5%75% of ARV12 months21-30 days
5% Down, 5+ Flips35%660+5+ completed flips9.99% to 10.99%2%75% of ARV9-24 months10-14 days
100% Financing, 2+ Flips40% (100% financing)620+2+ completed flips9.50% to 12.00%2.5%70% of ARV9 months7-14 days
Fastest Close (3 days)10%No minimumFirst flip OK11.99%2%75% of ARV6 months72 hours
  1. Loans of $150,000 and up. Smaller loans are priced per file. Rate 9.99% at 2 to 2.25 points by credit; buy down to 8.99%. 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.
  2. Loans of $150,000 and up. Smaller loans are priced per file. Rate 9.99% at 1.5 to 1.75 points by credit; buy down to 8.99%. 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 is set per file from 9.99%; origination about 2% plus a $995 processing fee.
  4. 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.

What we check first

Where Indianapolis prices sit right now

Before we price an Indianapolis 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 Indianapolis median sale price at $257K for the three months ending September 2026, up 2.7% on a year earlier, with homes selling in around 27 days. Zillow’s average home value for the city is $227,445, down 0.9%. In 46203, which covers Fountain Square, Bates-Hendricks and Garfield Park, Redfin’s median is $185K.

Median sale price (Redfin)$257K
Days on market (Redfin)27
Typical home value (Zillow)$227,445
46203 median sale (Redfin)$185K

Sources: Redfin, Indianapolis housing market · Zillow, Indianapolis home values · Redfin, 46203 housing market

Underwriting

How an Indianapolis file actually gets priced

Indianapolis values change block by block around Fountain Square, Garfield Park and the Near Eastside, so we set the after repair value on renovated sales a few streets away, not across Shelby Street or Washington Street. Doubles get comped as doubles, on rent as well as sale price. Basements matter here: a dry, finished basement adds value, a wet one costs it. We want the foundation and sewer line scoped before the budget is final.

Pleasant Run, Pogue’s Run, Fall Creek and the White River are the flood lines to check. Older houses often have stone or block basements that seep, clay sewer laterals and lead paint, which matters for any rental. Permits run through the city’s Department of Business and Neighborhood Services. Irvington, Fletcher Place and Herron-Morton Place are historic districts where exterior work needs approval first. And check the address: Beech Grove, Lawrence, Speedway and Southport sit inside the county but run their own permits.

The exit

Who buys your finished Indianapolis deal

The finished Indianapolis house sells to a first-time buyer, often on FHA or with down payment help, so condition items matter on the appraisal. Price it to renovated sales on your block. If the sale is slow, the hold is real: rents in the near-downtown neighborhoods often support a DSCR refinance. Plan the taxes right, though. Indiana caps owner-occupied homes at 1% of assessed value but rentals at 2%, so a hold carries a bigger tax bill than the seller paid.

After you apply

Your whole loan, in one portal

Apply once and the whole Indianapolis 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 Indianapolis

Fix & Flip

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

0% down (100% financing) from 9.50% at 620+ credit with 2+ completed flips, when purchase plus rehab fits under 70% of ARV · 10% down from 9.99% at 680+ credit on a first flip

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 Indianapolis

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

Fountain Square and Bates-Hendricks (46203)Garfield Park and Bean Creek (46203)Irvington and Little Flower (46219 / 46201)Near Eastside (46201)Mapleton-Fall Creek and Crown Hill (46208)Haughville and Near Westside (46222)
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 Indiana, 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

As little as 72 hours on the fastest program, 7-30 days on the others. We stay on title and the lender through funding.

Questions

Indianapolis hard money FAQ

Do you lend hard money in Indianapolis?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Indianapolis 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 Indiana, and the numbers come from the same engine that prices our instant term sheet.
Which fix and flip programs apply in Indianapolis?
As of October 2026: 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); Fastest Close (3 days) (10% down, from 11.99%). 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 an Indianapolis hard money loan close?
As little as 72 hours on the fastest-close program, which has no credit minimum. In Indiana, 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 an Indianapolis flip?
The worked example on this page is a $120,000 Indianapolis purchase with a $55,000 rehab and a $245,000 after repair value at 730 credit, first flip: $17,500 down (10% of purchase plus rehab) and $31,611 total cash to close, with $54,328 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 Indianapolis?
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 an Indianapolis fix and flip loan?
One Indianapolis program has no credit floor at all, it is priced on speed rather than credit. The lowest rate here, 9.50%, needs 620+ 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 an Indianapolis flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way an Indianapolis 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.
Why does a rental in Indianapolis pay more property tax than the same house owner-occupied?
Indiana’s property tax caps are set by use. A homestead is capped at 1% of assessed value, a rental at 2%. When you buy a house from an owner-occupant and rent it, the tax bill can roughly double once the homestead deduction falls off. Use the rental number, not the seller’s, when you run a DSCR refinance.
Is a double a good first flip in Indianapolis?
It can be. Doubles are common in Fountain Square, the Near Eastside and Mapleton-Fall Creek, and they sell to investors and to owner-occupants who live in one side. The appraisal leans on rent and on other doubles, so get the rent comps along with the sale comps. If the resale is thin, a double is also an easy DSCR hold.
Who you are working with
Micah Foster
Founder & CEO
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 Indianapolis deal →
Keep reading

Before you sign anything

Broker
Direct hard money lender vs broker: the honest breakdown
Read article →
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 →
Hard money in Louisville →Hard money in Cincinnati →Hard money in Columbus →Hard money in Chicago →All Indiana coverage →

Ready to fund your Indianapolis 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