Who are the Best Hard Money Lenders in Minnesota?

Finding the best hard money lenders Minnesota is critical to your real estate investing career. Whether you’re a new real estate investor or you’ve completed several deals, your hard money loans can end up costing you thousands of extra dollars if you aren’t careful. A bad hard money loan can set you back thousands and thousands of dollars. This can be avoided if you know how to approach a hard money lender the right way. On the flip side, hard money loans can provide the financing you need to make a deal possible in the first place. Minnesota hard money lenders can give you the buying power you need to secure more deals and bigger deals.

Minnesota doesn’t have a great selection of lenders. Loan amounts average around $207.9k. Rates for private loans average 10-13%. The average loan made in Minnesota has a length of 6-12 months. The mean loan includes a 2-4 point origination fee. Lenders typically offer a 65-70% loan-to-value on hard money loans in Minnesota.

Here’s our short list of the top 5 Best Hard Money Lenders in Minnesota:

  • American Land and Capital
  • Renovo Capital
  • Main Source Mortgage
  • Capital Lending Group Inc.
  • Insight Commercial Capital
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Top 5 Best Hard Money Lenders in Minnesota

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1. American Land and Capital

American Land and Capital is a Minnesota based hard money lender. Their rehab loans are intended for purchasing and renovating properties. In addition to borrowing the money needed to buy the investment, you can borrow the funds needed to renovate the house as well.

They offer a good selection of loan products including: New Home Construction Mortgages, Construction Loans, Builder Loans, Rehab / Flipping Financing Loans, Lot / Land Lending, Land Loans, Lot Loans, Development Loans, Hard Money Loans, and Cash For Business. 

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2. Renovo Capital

Renovo Capital is a Minnesota hard money lender based in Wayzata. They have a solid Google profile and a professional website. 

Here's more about their fix and flip terms:

  • Up to 70% of the ARV
  • No monthly interest payments
  • 2-point origination fee
  • 8-month maturity
  • Interest fees starting at 9%
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3. Main Source Mortgage

Main Source Mortgage is a Rochester MN based private money lender. They don't have a lot of history on Google, but their website is very solid and they detail their loan offerings well. 

Here is an overview of their hard money loans:

  • 90% Purchase, 95% Rehab
  • Up to 75% ARV
  • Nationwide Rental Loans
  • Investor Portfolio Loan
  • Investor Line of Credit
  • Purchase or Refinance (Blanket Loans)
  • Bridge Loans
  • 1-4 Units Non-Owner
  • Stated Income and No Doc
  • No Appraisal Loans

#4. Capital Lending Group Inc

Capital Lending Group, Inc. provides private money loans to real estate investors for the acquisition and renovation of single family homes in the Minneapolis/St. Paul Area. 

They don’t have a lot of activity on their Google profile, but they’ve been in the industry since 2001!

Here’s more about their loan terms:

  • Interest: 9.99%-15.99%
  • Loan term: 1 year
  • Discount points: 3.5% – 5 % ($4000.00 minimum)
  • Prepay penalty: None
  • Payments: Interest only monthly
  • Down payment: 10% – 20% of project cost
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5. Insight Commercial Capital

Our final hard money lender in Minnesota is Insight Commercial Capital. They don’t have much of an online profile. They can provide fast cash if you need to secure a deal. They also don’t typically include credit score. 

Best Hard Money Lenders Minnesota FAQ

Who is the best hard money lender in Minnesota?

Here’s our short list of the top 5 Best Hard Money Lenders in Minnesota:

  • American Land and Capital
  • Renovo Capital
  • Main Source Mortgage
  • Capital Lending Group Inc.
  • Insight Commercial Capital
What do Minnesota hard money lenders charge?

Hard money loan rates in Minnesota range from 10 percent to 13 percent for most fix and flip and shorter term loans. Many hard money lenders in Minnesota also charge points or origination fees on a loan that range from 2-4 percent.

Do Hard Money Lenders in Minnesota require appraisals?

With most hard money lenders in Minnesota, the loan to value (LTV) is determined through an appraisal or a broker opinion of value. Some lenders do offer in house valuations, which eliminate the need for a third party appraisal.

What is hard money in Minnesota?

Hard money loans in Minnesota are loans secured by real estate used to purchase or rehab that piece of property.

These short term loans are used to purchase and/or rehab residential or commercial properties. They’re usually more expensive than traditional loans but can be closed faster and oftentimes with less credit requirements.

Our Minnesota City Guides

Here are some of the best hard money lenders in cities throughout Minnesota:

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