Hard Money Lenders in Indianapolis, IN | Capital Kings LLC
Capital Kings LLC · Non-QM Mortgage Broker

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

Price an Indianapolis deal right now

Prefilled with a realistic Indianapolis deal. Change any number and it reprices on the programs that lend in Indiana, with the same math as our term sheets.

Sizing your flip on the same terms as the term sheet. Get a real term sheet →

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.

What an Indianapolis deal looks like on paper

Indianapolis example: $120,000 purchase, $55,000 rehab, $245,000 after repair value, 700 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$31,385
Proof of funds to show$54,102
Where the $31,385 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$421
  • 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.

Fix and flip programs in Indianapolis

Swipe the table for rates, credit and terms →

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
First Flip, 10% Down110% of purchase + rehab660+First flip OK9.99%2%75% of ARV12 months21-30 days
7.5% Down, 3+ Flips27.5% of purchase + rehab660+3+ completed flips9.99%1.5%75% of ARV12 months21-30 days
5% Down, 5+ Flips35% of purchase660+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% of purchaseNo minimumFirst flip OK11.99%2%75% of ARV6 months72 hours
  1. Rate 9.99% with 2% to 2.25% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. 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% with 1.5% to 1.75% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. 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% with 2% to 3% origination, set per file. Purchase plus rehab must fit under 70% of ARV.

Origination has a $2,000 minimum on most programs (a few lenders set a higher one, noted above) and our broker fee is 1% with a $2,000 minimum and a $10,000 maximum. These are the numbers our term sheets use as of October 2026. Strong credit, cash and a track record can price lower through specific lenders in the network.

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

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.

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.

What happens after you apply

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.

The full walkthrough is on how it works, and you can tour the borrower portal before you apply.

What we fund in Indianapolis

Fix and flip

10%down on a first flip
Rates
from 9.50% at 620+ credit with 2+ completed flips
With experience
0% down with 2+ completed flips, purchase plus rehab under 70% of ARV
Rehab
100% funded, paid in draws
Fix and flip loans in Indiana →

Rental (DSCR)

7.00%rates from, 30-year fixed
Qualify on
the rent, no W-2s or tax returns
Down
from 20% at 700+ credit
Good for
buy-and-hold, and the refinance when a flip becomes a rental
DSCR loans in Indiana →

New construction

95%of cost with a financed interest reserve, after 1 completed build
Rates
from 8.49% with 5+ completed builds
First build
85% of cost with a GC who has 5+ builds
Builds
single family to small multifamily
New construction loans in Indiana →

Where we lend in Indianapolis

We broker deals across the whole Indianapolis market. The submarkets investors ask us about most are 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) and Haughville and Near Westside (46222).

How long does a Indianapolis loan take to fund?

You send the address, purchase price, rehab budget and your ARV, which takes about five minutes and no credit pull. We take it to the lenders in our network that fit it and are licensed in Indiana, and the rate, origination, leverage and cash to close come back side by side. As little as 72 hours on the fastest program, 7-30 days on the others. We stay on title and the lender through funding.

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 700 credit, first flip: $17,500 down (10% of purchase plus rehab) and $31,385 total cash to close, with $54,102 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.
Micah Foster
Micah Foster
Founder & CEO, Capital Kings LLC
Micah brokers Non-QM and hard money loans for real estate investors across 38 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.

What to read before you sign a term sheet

Hard money near Indianapolis: Louisville, Cincinnati, Columbus and Chicago. More Indiana city guides: Bloomington, Evansville, Fort Wayne and South Bend. Or see everything we fund in Indiana.

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