Bloomington Hard Money Lender

Bloomington Hard Money Lender

In the Bloomington real estate market, grabbing properties before your competition is essential for making the best deals. Although real estate investors sometimes go the traditional route and seek bank loans, the process is anything but speedy.

When time is of the essence, waiting for the lengthy process of getting approval is not an option for most investors. Bloomington hard money lenders specialize in providing hard money loans which provide quick funds to investors. These loans are for a non owner occupied property or in some cases for business purpose loans.

Bloomington Hard Money Lender FAQ’S

Below are some of the most frequently asked questions we get regarding hard money loans and lenders in Bloomington.

What Do Bloomington Hard Money Lenders Specialize in?

Bloomington hard money lenders specialize in providing short-term, creative financing for real estate investors. If you seek a conventional lender to purchase an investment property, your loan request will be based on the property’s value and your assets. Your credit score, job, and finances will be scrutinized intensely.  Hard money lenders base their final loan decisions on the after-repair value. The ARV represents the potential value of a property after all repairs have been accomplished.

What are the Benefits of Bloomington Hard Money Loans?

Bloomington hard money loans offer advantages that traditional banks cannot. Lenders like Acamnet Financial offer a higher level of flexibility than banks.  When qualifying for this type of loan, lenders do not delve too deeply into the finances of real estate investors. In most cases, simply present the property and your plans, which saves you the hassle of gathering countless financial documents.

Do Bloomington Hard Money Lenders Look at my Credit Score?

One of the greatest benefits of working with Bloomington hard money lenders is the lack of credit score requirements. One of the first things a bank does is check your credit score.  You can get approved for a hard money loan in Bloomington even if you have bad credit or poor credit, bankruptcies, and foreclosures in the past. Bloomington Hard money lenders primarily care about the property you are purchasing.

What is the Interest Rate & Points for Hard Money Loans in Bloomington?

Interest rates for hard money loans in Bloomington are typically higher than traditional bank loans (conventional loans) because of the greater risk lenders must take on when approving loans. When searching for a hard money lender near me in Bloomington, you will find average interest rate is between 8%-15%.  You should also be aware that lenders sometimes charge points that are meant to offset their administrative costs. Each point represents 1% of the total loan amount.  The average points lenders charge is between 1 to 3. Some lenders may charge up to 10 points. These points are due upfront or at closing, depending on the lender.

What Should I Look for in a Bloomington Hard Money Lender?

There are many benefits to working with a Bloomington hard money lender.  You just need to make sure you are working with the right lender.  You can rely on Acamnet Financial Group when you need us most.  We offer reliability, consistency, experience, and support.  As a real estate investor, you know the importance of grabbing the best property deals when they become available.

How can Hard Money Lenders in Bloomington Help Me?

Whether you are new to real estate and real estate projects or an old pro, you know having the capital to purchase real estate is essential. Without funds, you will miss out on real estate transactions.  When you partner with hard money lenders in Bloomington, you will quickly get the money you need without jumping through the hoops of traditional bank lenders.

How do I get a Hard Money Loan in Bloomington?

When you want a hard money loan in Bloomington, begin by preparing the property information. Location, size, purchase price, after repair value, repair costs, etc.  In most cases, the financing will be based on these numbers.  Then, apply for a hard money loan in Bloomington using this information and supply some financial information.  Then, an appraisal will be ordered to assess the loan-to-value ratio, which will influence the loan amount.

How do I Refinance a Bloomington Hard Money Loan?

Refinance a Bloomington hard money loan will involve moving from a high interest, short term loan to a longer term, usually lower interest rate loan. Typically a conventional type of loan.  When refinancing a Bloomington hard money loan you will find it will have a more stringent set of guidelines.  You will need to have sufficient credit and income qualifications.  As the lending landscaping and regulations constantly change, you want to consult a knowledgeable conventional loan expert.

Here’s other cites we can help with in Illinois: Hard money lender Illinois

Current Real Estate Trends In Bloomington (2024)

The real estate market in Bloomington, IL is currently on the rise. Median listing home prices have jumped 22.4% year-over-year, now at $299.9K with a price per square foot of $119. This is evident in the sale-to-list price ratio of 100%, indicating a seller’s market.

Homes in the city are typically sold after 34 days on the market, only a slight increase from the previous year. Bloomington offers a range of amenities, including groceries, cafes, restaurants, parks, and gyms.

Examining the market history, one finds that home values have gone up in the past 12 months, with projections of a 3.099% increase in the next 10 years.

All things considered, the Bloomington real estate market is a promising and competitive option for both buyers and sellers.

Market Overview

The real estate market in Bloomington, IL is flourishing, showcasing a rise in median listing home prices, a sale-to-list price ratio of 100%, and a seller’s market in September 2023.

The median listing home price has increased by 22.4% over the past year, signifying that there is high demand for homes.

It is clear that sellers are able to attain their desired asking price, as the sale-to-list price ratio is 100%.

Also, the market is currently favoring sellers, showing that this is a favorable time for those looking to sell their properties.

Going forward, it is imperative to analyze housing market trends to gain a better understanding of the evolving landscape.

Housing Market Trends

Home prices in Bloomington, IL have seen a substantial increase of 22.4% year-over-year, indicating a strong demand for properties.

The sale-to-list price ratio is an impressive 100%, demonstrating that sellers are able to get their asking prices.

Houses on average are sold after 34 days on the market, showing that the market is relatively high-paced.

Though the median days on market have risen slightly compared to the last year, the trend is still positive.

These trends emphasize the attractiveness of the Bloomington housing market and the potential for profit.

It is important to consider the amenities of the area when considering investing in the local housing market.

Amenities and Surroundings

Located in Bloomington, IL, the local housing market is enhanced by a variety of amenities and attractions. Residents can easily access their daily needs at a number of grocery stores.

There are also plenty of cafes and restaurants to choose from, as well as parks and gyms for outdoor activities and exercise. These features make the area attractive to potential homebuyers and add value to the local housing market.

The presence of these amenities further improves the quality of life for those living in the area.


All About Bloomington

Welcome to Bloomington, a vibrant city situated in McLean County, Illinois. With a total area of 27.229 square miles and a height of 797 feet, Bloomington offers a wide range of experiences for both locals and visitors alike.

Its history is remarkable, earning it the title of county seat in 1830 and being founded in 1831. Did you know that Bloomington had a role to play in Abraham Lincoln’s decision to run for president? It’s true! But that’s just the start.

Bloomington is a prosperous city, with major businesses such as State Farm Insurance, Illinois State University, and Country Financial. It is also home to first-rate educational institutions like Illinois Wesleyan University and Illinois State University.

But the city doesn’t just focus on work. Bloomington has various cultural events and festivals all year long, keeping the city alive with excitement. Plus, there are plenty of attractions to explore, like the McLean County History Museum and the beautiful downtown area.

Location and Climate

Bloomington has an elevation of 797 feet (243m) above sea level. This exciting city is located in McLean County, Illinois, and covers an area of 27.229 square miles (70.52km²). It is mainly land, with only 0.03% of it being water.

The temperatures in Bloomington vary throughout the year. January usually sees temperatures as low as 14°F (-10°C) while July can be as warm as 86°F (30°C). The city gets around 35.7 inches (906mm) of rain a year, with the most rain falling in May, with an average of 4.52 inches (115mm).

Bloomington has lots of interesting attractions and recreational activities to offer. From the McLean County History Museum and the David Davis Mansion to the Miller Park Zoo and the Bloomington Center for the Performing Arts, there is something for everyone.

The city also has a rich history and some amazing landmarks. Come explore the unique and fascinating city of Bloomington!

History and Landmarks

Abraham Lincoln, the 16th President of the United States, worked as a lawyer in nearby Springfield and visited this city. He formed important connections here and received support from Jesse W. Fell, a well-known resident who had a role in pushing Lincoln to run for president.

There are several landmarks in Bloomington that demonstrate its history. The McLean County History Museum, formerly the McLean County Court House, stands in downtown Bloomington. This old building has plenty of exhibits and displays that show the county’s past. Another noteworthy site is the David Davis Mansion, a Victorian-era home that gives an insight into the city’s heritage.

The downtown area in Bloomington is full of shops, eateries, and entertainment venues. People visit the Bloomington Center for the Performing Arts to watch live performances and appreciate a variety of artistic talents. Moreover, Miller Park Zoo offers a range of animal exhibits and educational programs for people of all ages.

Economy and Employment

The city is a major hub for various industries, with State Farm Insurance leading the way as the largest employer, providing 14,731 jobs. Illinois State University and Country Financial also contribute significantly to the local workforce.

Bloomington’s economy is diverse and growing, offering employment opportunities in fields like insurance, education, and healthcare.

Its strategic location at the intersection of Interstates 39, 55, and 74 makes it a regional transportation center, bringing businesses and facilitating trade. This, paired with the McLean County Fairgrounds, Grossinger Motors Arena, and Beer Nuts, further enhances economic growth and development.

Illinois Wesleyan University and Illinois State University are two prestigious institutions located in Bloomington. These universities provide excellent educational opportunities and are also key employers in the area, drawing students from all over the country and creating a vibrant and diverse academic atmosphere.

Education and Universities

Explore the educational choices and cultural attractions in Bloomington, a city renowned for its prestigious universities and vibrant academic atmosphere.

Illinois Wesleyan University and Illinois State University offer a wide selection of programs and research opportunities, providing students with an ideal environment for personal growth and intellectual development.

Illinois State University, one of the largest employers in Bloomington, offers a variety of undergraduate and graduate courses. The university is acknowledged for its College of Business, College of Fine Arts, and College of Education.

Illinois Wesleyan University is a private liberal arts college known for its rigorous programs and individualized approach to teaching. Both universities have access to modern facilities, libraries, and research centers.

In addition to the universities, Bloomington has several cultural attractions. The McLean County History Museum, located in the city center, is a significant landmark that displays the area’s history.

The Bloomington Center for the Performing Arts hosts theatrical productions and musical concerts, while the David Davis Mansion is a Victorian-era home that showcases the city’s past.

Bloomington is also known for its cultural events and festivals. From the Illinois Shakespeare Festival to the McLean County Fair, residents participate in a range of activities that celebrate the arts, agriculture, and community spirit.

Cultural Events and Festivals

Immerse yourself in the vibrant cultural scene of Bloomington and experience a wide range of events and festivals that celebrate the arts, agriculture, and the community. Bloomington offers something for everyone throughout the year, with a line-up of cultural events and festivals that will delight and inspire.

The Illinois Shakespeare Festival is an eagerly awaited annual event that brings the works of Shakespeare to life in an unforgettable way. Theater lovers will be mesmerized by the performances.

Meanwhile, the McLean County Fair is a celebration of the area’s farming heritage with agricultural exhibits, live music, and thrilling carnival rides.

Art fans will not want to miss the Sugar Creek Arts Festival, where local artists and craftsmen display their work across a variety of mediums. You can browse and purchase unique, handcrafted pieces that truly capture the Bloomington community’s creativity.

During the holiday season, the Festival of Trees turns the city into a winter wonderland with elaborately decorated Christmas trees.


No matter the time of year, Bloomington offers a cultural event or festival that will capture your imagination and leave you with unforgettable memories. Step into the heart of this vibrant community and experience the arts, agriculture, and the welcoming spirit that defines Bloomington.