Broker, not a lenderHard Money Lenders inIowa City, Iowa
Fix and flip, DSCR rental and new construction financing for Iowa City 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 Iowa City deal right now
Prefilled with a realistic Iowa City deal. Change any number and it reprices instantly on the lanes licensed in Iowa, using the same engine behind our term sheets.
Financing a deal in Iowa City
Iowa City is a college town in the full sense: the University of Iowa and its hospitals are the biggest employers, and they shape everything from who buys to which streets rent. The older neighborhoods near campus, Northside, Goosetown and Longfellow, are 1890s to 1930s houses on small lots, while the east and west sides fill out with 1950s to 70s ranches and splits. Prices here run higher than most of Iowa, but they dipped from a year ago, which matters for how we set an ARV.
Iowa City flips sort into two buyers. Faculty, doctors and hospital staff want a finished, character-rich house in Longfellow, Manville Heights or the Northside, and they pay for it. Everyone else, including first-time buyers and young families, shops the east side ranches and the west side splits. Student rental demand pulls a lot of the near-campus stock into investor hands, so a house that could go either way needs a decision up front: retail sale or long-term rental.
What an Iowa City deal looks like on paper
Iowa City example: $200,000 purchase, $60,000 rehab, $365,000 after repair value, 730 credit, first flip. The engine puts that borrower on the First Flip, 10% Down program at 9.99%. Think a 1950s ranch on the east side near Longfellow: roof, windows, a new kitchen, a refreshed bath plus a half bath, flooring and a dry, finished lower level. 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$26,000
- Origination (2.13%)Lender$4,973
- Lender fees (flat)Lender$2,790
- Broker fee (1%)Broker$2,340
- Title and closing (estimate at Texas rates)Title$3,492
- Prepaid interest (15 days)Lender$961
- Property insuranceInsurer$2,470
- AppraisalAppraiser$550
Interest while you rehab: $1,449 a month on the $174,000 funded at closing, $1,948 once every draw is out. Proof of funds is cash to close plus $16,200 of rehab reserve and $11,688 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 Iowa City
| Program | Down payment | Min credit | Experience | Rate | Origination | Max loan | Term | Close |
|---|---|---|---|---|---|---|---|---|
| Experienced Investor Rate1 | 15% | 680+ | 2+ completed flips | 9.00% | 0.75% | 75% of ARV | 12-24 months | 7-14 days |
| First Flip, 10% Down2 | 10% | 660+ | First flip OK | 9.99% | 2% | 75% of ARV | 12 months | 21-30 days |
| 7.5% Down, 3+ Flips3 | 7.5% | 660+ | 3+ completed flips | 9.99% | 1.5% | 75% of ARV | 12 months | 21-30 days |
| 5% Down, 3+ Flips4 | 5% | 600+ | 3+ completed flips | 12.00% | 2% | 75% of ARV | 12 months | 7-14 days |
| 5% Down, 5+ Flips5 | 5% | 660+ | 5+ completed flips | 9.99% to 10.99% | 2% | 75% of ARV | 9-24 months | 10-14 days |
| 100% Financing, 2+ Flips6 | 0% (100% financing) | 620+ | 2+ completed flips | 9.50% to 12.00% | 2.5% | 70% of ARV | 9 months | 7-14 days |
- Rate and origination are the program floor; two completed projects in the last 36 months preferred.
- 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 Iowa City prices sit right now
Before we price an Iowa City 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 Iowa City median sale price at $300,000 for the three months ending September 2026, down 7.7% on a year earlier, with homes selling in around 28 days.
| Median sale price, Iowa City (Redfin, 3 months to Sep 2026) | $300,000 |
| Change from a year earlier (Redfin) | -7.7% |
| Days on market, Iowa City (Redfin) | 28 |
Sources: Redfin, Iowa City housing market
How an Iowa City file actually gets priced
Because the citywide median slipped over the past year, we weight the most recent renovated sales and don’t lean on last spring’s peak. Johnson County appraisers comp by neighborhood and school, and a Manville Heights sale won’t carry an east side ranch. Iowa doesn’t allow private title insurance, so title work runs through an abstract, an attorney’s opinion and Iowa Title Guaranty, which adds a step to the schedule. On older houses near campus, we want the foundation and mechanicals inspected before we finalize the scope.
The Iowa River flooded in 2008, swamping parts of campus and low neighborhoods along the river, and the city later bought out homes in the worst areas. Ralston Creek runs through the east side and has its own flood history. Check the floodplain on anything low. Iowa City requires a rental permit and inspection for any rented house, and it limits how many unrelated people can live together, which matters if your exit becomes a student rental. Parts of the Northside and Longfellow fall inside historic or conservation districts with exterior review. An April 2006 tornado tore through town, and roofs replaced after it are now aging.
Who buys your finished Iowa City deal
The finished Iowa City house sells to a university or hospital employee, a graduate student’s family, or a local buyer moving up. These buyers are careful and inspection-minded, so mechanicals, windows and a dry basement matter more than flashy finishes. Coralville and North Liberty offer newer construction nearby, so price against them honestly. If the sale stalls, a rental is a real exit, but plan for the permit, the inspection and the occupancy rules before you choose it.
Your whole loan, in one portal
Apply once and the whole Iowa City 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 Iowa City
Fix & Flip
Purchase plus 100% of rehab, released in draws. The core product in Iowa City.
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 Iowa City
We broker deals across the whole Iowa City 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 Iowa, 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
Plan on 7-14 days with completed flips and 21-30 days on a first flip. We stay on title and the lender through funding.
Iowa City hard money FAQ
Do you lend hard money in Iowa City?
Which fix and flip programs apply in Iowa City?
How fast can an Iowa City hard money loan close?
How much do I need to bring to close on an Iowa City flip?
Do you fund the rehab budget in Iowa City?
What credit score do I need for an Iowa City fix and flip loan?
Can I refinance an Iowa City flip into a rental loan?
Can I get a hard money loan for a first flip in Iowa City?
Should I flip or rent a house near the University of Iowa?
Before you sign anything
Ready to fund your Iowa City deal?
Submit your scenario in under 3 minutes. We shop it and come back with real terms, not a generic rate sheet.