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

Hard Money Lenders inSouth Bend, Indiana

Fix and flip, DSCR rental and new construction financing for South Bend 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 South Bend 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 a South Bend deal right now

Prefilled with a realistic South Bend 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 South Bend

South Bend is a Notre Dame town that used to be a Studebaker town, and both histories show up in its housing. The near east side, Sunnymede, Harter Heights and River Park, has brick bungalows, Tudors and colonials from the 1910s through the 1930s that draw university and hospital buyers. The west and southeast sides hold smaller worker cottages from the factory era. The market is tight and houses sell quickly, which keeps flipping here competitive.

What decides a South Bend flip is location relative to the river and the university. East of the St. Joseph River, near Notre Dame and Eddy Street, buyers pay for character and walkability, and a careful renovation earns its premium. The west side and the southeast are cheaper and steadier, with a resale ceiling that rewards a lean scope. Low inventory means sellers know what they have, so the discount usually comes from condition, not from a motivated seller.

A real term sheet

What a South Bend deal looks like on paper

South Bend example: $140,000 purchase, $50,000 rehab, $265,000 after repair value, 730 credit, first flip. The engine puts that borrower on the First Flip, 10% Down program at 9.99%. Here’s one: a 1920s brick bungalow in Sunnymede, 46615, close to the river and Notre Dame, with a dated kitchen, a single bath, an old boiler and windows that need replacing. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$171,000
Cash to close$33,662
Proof of funds to show$55,703
Where the $33,662 goes
  • Down payment (10% of purchase plus rehab)You$19,000
  • Origination (2.13%)Lender$3,634
  • Lender fees (flat)Lender$2,790
  • Broker fee (1%)Broker$2,000
  • Title and closing (estimate at Texas rates)Title$3,181
  • Prepaid interest (15 days)Lender$702
  • Property insuranceInsurer$1,805
  • AppraisalAppraiser$550

Interest while you rehab: $1,007 a month on the $121,000 funded at closing, $1,424 once every draw is out. Proof of funds is cash to close plus $13,500 of rehab reserve and $8,541 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 South Bend

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
First Flip, 10% Down110%660+First flip OK9.99%2%75% of ARV12 months21-30 days
7.5% Down, 3+ Flips27.5%660+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. 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.
  2. 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.
  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 South Bend prices sit right now

Before we price a South Bend 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 South Bend median sale price at $195K for the three months ending September 2026, up 3.2% from a year earlier, with homes selling in about 19 days compared to 21 a year ago.

Median sale price, South Bend (Redfin, 3 months to Sep 2026)$195K
Change from a year earlier (Redfin)+3.2%
Days on market, South Bend (Redfin)19

Sources: Redfin, South Bend housing market

Underwriting

How a South Bend file actually gets priced

St. Joseph County appraisers comp tightly inside the neighborhood, and South Bend neighborhoods change quickly street to street. We set the after repair value on renovated sales from the last 90 days in the same area and style, so a Sunnymede bungalow is compared to Sunnymede and River Park houses, not to cheaper cottages west of the river. Mishawaka is a separate city with its own price level next door. Rentals near campus get rent comps too, since student and faculty demand props them up.

The St. Joseph River runs through the middle of town, and the February 2018 flood showed which low blocks along it take water, so check the flood map on anything near the banks. Lake-effect snow and freeze cycles are hard on roofs, gutters and basement walls. Prewar houses bring boilers, knob and tube wiring, clay laterals and lead paint. Chapin Park, West Washington and several other areas are local historic districts, and exterior work there goes through the Historic Preservation Commission before permits are issued.

The exit

Who buys your finished South Bend deal

The finished South Bend house sells to buyers from Notre Dame, Beacon Health, Saint Joseph Health System and the manufacturers across the county, plus remote workers drawn by the prices. First-time buyers dominate, mostly on FHA and conventional loans, and they want a second bath and updated mechanicals. Houses near campus can also rent to graduate students and faculty, so a DSCR refinance is a real second exit there. Keep the list price close to the best recent sale on the block.

After you apply

Your whole loan, in one portal

Apply once and the whole South Bend 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 South Bend

Fix & Flip

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

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 660+ 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 South Bend

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

Sunnymede and River Park (46615)Harter Heights and Howard Park (46617)Northeast Neighborhood (46617)Near Northwest and Chapin Park (46616 / 46601)Rum Village and Southeast (46613)Miami Hills (46614)Keller Park (46628)
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

South Bend hard money FAQ

Do you lend hard money in South Bend?
Yes. Capital Kings is a broker, not a direct lender, so we shop your South Bend 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 South Bend?
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 a South Bend 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 a South Bend flip?
The worked example on this page is a $140,000 South Bend purchase with a $50,000 rehab and a $265,000 after repair value at 730 credit, first flip: $19,000 down (10% of purchase plus rehab) and $33,662 total cash to close, with $55,703 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 South Bend?
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 South Bend fix and flip loan?
One South Bend 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 a South Bend flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way a South Bend 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.
Is it better to flip near Notre Dame or on the west side of South Bend?
Near Notre Dame and the east bank you pay more going in and sell for more, and character work like trim and hardwood restoration pays off. The west side and southeast cost less and sell to budget-minded first-time buyers, so the scope should stay tight. Run both through the calculator and compare cash to close, not just the profit line.
Can a first-time investor finance a South Bend flip?
Yes. In Indiana a first flip can be priced at 10% down with 660+ credit (from 9.99%) or 10% down with no credit minimum on the fastest-close program (from 11.99%). Programs that need completed flips: 7.5% down from 9.99% with 3+ flips; 5% down from 9.99% with 5+ flips; and 100% financing from 9.50% with 2+ flips when purchase plus rehab fits under 70% of ARV. The example on this page is set up as a first deal, and the programs table updates as you change your experience and credit.
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 South Bend 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 Fort Wayne →Hard money in Indianapolis →Hard money in Chicago →All Indiana coverage →

Ready to fund your South Bend deal?

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

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