Where we finance

Hard Money Loans in Indiana

Apex Capital Advisors arranges hard money and other business-purpose financing for Indiana investors, from Indianapolis doubles to South Bend frame houses. We offer fix and flip, DSCR rental, bridge and new construction loans, with term sheets in 12 to 24 hours.

Discuss your deal All 36 states and Washington, D.C.

Fix & Flip
DSCR Rental
Bridge
New Construction

The lay of the land

Investing in Indiana

Indiana's investor markets follow its regions. Indianapolis sits in the middle of the state, with state government, Eli Lilly, Elevance Health, IU Health and a large warehouse and shipping sector near the airport. Northwest Indiana belongs to the Chicago region, with steel mills on Lake Michigan. The north runs from South Bend and the RV plants of Elkhart County to Fort Wayne. Southern Indiana includes Evansville on the Ohio River and the Indiana suburbs of Louisville.

In the older cities, flips and rentals tend to be wood-frame houses from the pre-war and post-war decades: bungalows, foursquares, side-by-side doubles and small ranches. Indiana University in Bloomington, Purdue in West Lafayette and Notre Dame near South Bend support student rentals. New subdivisions ring Indianapolis and the larger cities. Cold winters and repeated freezing and thawing are hard on roofs, basements and old plumbing, so the inspection and the rehab budget matter as much as the price.

Loan programs

Loan Programs in Indiana

Four ways to finance an investment property in Indiana, each sized to the deal rather than a fixed product.

Short-term project capital

Fix and Flip Loans in Indiana

Indiana flips are often system jobs. A pre-war Indianapolis bungalow, a West Central Victorian in Fort Wayne or a factory-era South Bend house may need a roof, a furnace, wiring to replace knob-and-tube, new plumbing, and foundation repair after years of freeze and thaw. Get contractor bids before you offer, and price the resale off renovated houses nearby.

Our hard money fix and flip loans fund up to 92.50% of total cost and up to 100% of the rehab budget. The minimum FICO is 650, with lower scores considered case by case.

Newbies are welcome
Up to 92.50% Loan to Cost (LTC)
Up to 100% of rehab budget

Fix and flip loan details

Long-term rental financing

DSCR Rental Loans in Indiana

Indiana rental demand comes from hospital, logistics and government jobs in Indianapolis, from students and staff near the big campuses, and from plant workers around Kokomo, Lafayette and Elkhart.

Our DSCR loans are qualified on the property's cash flow, not your personal earnings, with ratios as low as 0.75x considered and loan amounts from $100K to $3M+. Options include 30-year fixed and ARM terms and cash-out refinancing up to 80% LTV. Reaching the full 80% takes a stronger DSCR and credit score than the program minimums, so leverage on each file is set by its DSCR and credit. Long-term and short-term rentals are eligible. Budget property taxes at non-homestead status, since the seller's bill may reflect a lower cap.

Qualified on the property's cash flow, not your personal income
No traditional employment or personal-income verification
Cash-out refinance LTV up to 80%

DSCR rental loan details

Interim financing

Bridge Loans in Indiana

A hard money bridge loan fits Indiana deals where timing is the problem: a vacant Indianapolis double or small apartment building that must be leased before a DSCR refinance, a purchase that has to close before a Fort Wayne flip sells, an estate house that needs work before a bank will lend, or a lot in Hamilton or Hendricks County held while plans and permits are approved.

Terms are set deal by deal rather than to a fixed product, and experienced and first-time sponsors are both considered. The loan is built around your exit.

Structured for transactions that cannot wait
Property in transition, lease-up or repositioning
Terms set deal by deal rather than to a fixed product

Bridge loan details

Ground-up construction

New Construction Loans in Indiana

New subdivisions in Indiana cluster around Indianapolis in Hamilton, Hendricks, Johnson and Boone counties, north and southwest of Fort Wayne, on Evansville's east side and in Newburgh, and in Granger near South Bend. Infill lots in older Indianapolis neighborhoods are another path. Set footings below the frost line and allow for winter weather in the schedule. Under the property tax caps, a single-family house under construction counts as residential property, not a homestead.

Our new construction loans fund up to 100% of the construction budget, assess lot cost and build budget together, and release capital in stages against construction progress.

Up to 100% of the construction budget
Land or lot cost and build budget assessed together
Capital released in stages against construction progress

New construction loan details

Program terms are general guidelines, not a quote or commitment. Every loan is subject to underwriting and approval and is for business purposes only.

Local markets

Where We Finance in Indiana

Apex offers loans statewide. These markets are a starting point, not a limit.

Indianapolis

Indianapolis and Marion County share a consolidated government, so the city limits take in a wide mix of housing. Near downtown, Fountain Square, Bates-Hendricks, Irvington and the Near Eastside have bungalows, cottages and side-by-side doubles that suit flips and small rentals. Farther out, Lawrence, Warren, Wayne and Perry townships have post-war ranches and split-levels that work as long-term rentals. New subdivisions go up in nearby Hamilton, Hendricks and Johnson counties. Eli Lilly, IU Health, Elevance Health, state government and the FedEx hub at Indianapolis International Airport anchor the job base.

Fort Wayne

Fort Wayne is the center of northeast Indiana, with General Motors' pickup truck plant southwest of the city, Parkview Health, Lutheran Health Network, defense electronics makers and Purdue University Fort Wayne. West Central, Lakeside and Forest Park near downtown have Victorian and Craftsman houses, while the south side has smaller frame homes and post-war ranches. Newer subdivisions extend north toward Huntertown and southwest into Aboite Township. The St. Joseph and St. Marys rivers meet downtown to form the Maumee, and some low-lying blocks have flooded, so check the flood map early.

Evansville

Evansville sits on the Ohio River across from Henderson, Kentucky, and serves a Tri-State area that reaches into Illinois. Deaconess and Ascension St. Vincent hospitals, the University of Evansville and the University of Southern Indiana are major employers, and Toyota's Princeton plant is within commuting distance. Riverside and Haynie's Corner have Victorian-era houses, Jacobsville has smaller frame homes, and the east side and Newburgh have newer housing. Indiana requires a lease to disclose when a rental's lowest floor, including a basement, sits at or below the base flood elevation on state or FEMA flood maps, which matters near the river.

South Bend

South Bend grew up around Studebaker and other manufacturers, and its factory-era neighborhoods west and south of downtown have modest frame houses that often need full system updates. The University of Notre Dame sits just north of the city, and the Northeast Neighborhood and the East Bank draw renters tied to campus and downtown. Beacon Health System, Saint Joseph Health System, AM General and the RV plants of Elkhart County support the job base. Lake-effect snow off Lake Michigan is hard on roofs and gutters. Granger and Mishawaka have newer subdivisions.

Before you buy

What Investors Should Know About Indiana

Foreclosure goes through the courts

Indiana mortgages are foreclosed by a lawsuit in the county where the property sits. The sale cannot go forward until a statutory waiting period after the complaint has run, unless the court finds the property abandoned. Until the sheriff's sale, the owner can redeem by paying the judgment, interest and costs. An omitted junior lienholder may later get a chance to redeem, so check title before bidding.

Property tax caps differ for rentals

Indiana caps each property tax bill as a share of gross assessed value. The homestead cap is lower than the cap on other residential property, including rental houses, multi-unit residential buildings and houses under construction. Voter-approved referendum taxes fall outside the caps. A seller's homestead bill can understate what an investor will pay.

Security deposits and local rules

When a lease ends and the tenant gives a mailing address in writing, the landlord has a fixed statutory window to send an itemized list of deductions with the rest of the deposit, or can owe the full deposit plus attorney's fees. The duty falls on whoever owns the unit when the lease ends. Cities, towns and counties may not regulate rents, deposits, screening, lease terms or landlord fees unless the legislature authorizes it.

Mechanic's lien deadlines

A contractor, subcontractor or supplier seeking a lien must record a sworn notice with the county recorder within a fixed window after its work. The window is shorter for a single-family house, duplex or townhouse than for other property. A lien can be filed after the draw that paid your general contractor, so collect lien waivers with each draw.

General information, not legal or tax advice. Laws and rates change; confirm the details with a licensed attorney or tax professional in Indiana.

Questions

Indiana Hard Money Loan FAQs

Not answered here? Call +1(551) 321-5995 or read the full FAQ.

Do you make hard money loans to first-time flippers in Indiana?

Yes. First-time investors are welcome. Our Indiana fix and flip loans fund up to 92.50% of total cost and up to 100% of the rehab budget. The minimum FICO is 650, with lower scores considered case by case, and term sheets go out within 12 to 24 hours.

Can I use a DSCR loan for a short-term rental in Indiana?

Yes, short-term rentals are eligible. Indiana law limits the reasons a city, town or county may restrict them, but a local government can still require a permit, and a non-owner-occupied home may need a special exception in a residential zone. Places with rules adopted before the state law may keep them, so check locally.

Will property taxes go up if I buy a homestead and rent it out?

They can. Indiana's tax cap for a homestead is lower than its cap for a rental house, and a seller who lived there may have paid under the lower cap. Estimate taxes at non-homestead status before you run DSCR numbers or holding costs.

How fast can an Indiana hard money loan close?

Term sheets go out within 12 to 24 hours, and qualified deals with complete documents can fund in as fast as 15 days. For an estate or foreclosure purchase, order title early, since unpaid taxes, junior liens or contractor liens can slow closing.

Do you lend outside Indianapolis, Fort Wayne, Evansville and South Bend?

Yes. Apex offers loans statewide, including Carmel, Fishers and Greenwood, Bloomington, West Lafayette, Lafayette, Muncie, Terre Haute, the Lake County cities near Chicago and the Indiana side of the Louisville area. Apex finances business-purpose real estate in 36 states and Washington, D.C.

Beyond the state line

Nearby States We Serve

Investing on both sides of the border? The same programs and the same team cover the states around Indiana.

All 36 states and Washington, D.C.

Next step

Financing a Property in Indiana?

Send us the property, the plan and the timeline. We will tell you what is realistic and what we need to issue a term sheet.

Discuss your deal +1(551) 321-5995