In the Ankeny 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. Ankeny 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.
Ankeny Hard Money Lender FAQ’S
Below are some of the most frequently asked questions we get regarding hard money loans and lenders in Ankeny.
What Do Ankeny Hard Money Lenders Specialize in?
Ankeny 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 Ankeny Hard Money Loans?
Ankeny 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 Ankeny Hard Money Lenders Look at my Credit Score?
One of the greatest benefits of working with Ankeny 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 Ankeny even if you have bad credit or poor credit, bankruptcies, and foreclosures in the past. Ankeny Hard money lenders primarily care about the property you are purchasing.
What is the Interest Rate & Points for Hard Money Loans in Ankeny?
Interest rates for hard money loans in Ankeny 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 Ankeny, 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 an Ankeny Hard Money Lender?
There are many benefits to working with an Ankeny 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 Ankeny 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 Ankeny, 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 Ankeny?
When you want a hard money loan in Ankeny, 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 Ankeny 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 an Ankeny Hard Money Loan?
Refinance an Ankeny 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 an Ankeny 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 Iowa: Iowa hard money lender
Current Real Estate Trends In Ankeny (2023)
Ankeny, IA is currently a buyer’s market with a rise in the median listing home price. As of September 2023, the median listing home price stands at $380K, indicating a year-over-year growth of 5.6%.
The median sold home price is $350K, and the sale-to-list price ratio is 100%, indicating homes in Ankeny are selling near their asking price.
The supply of homes surpasses the demand, as evidenced by the average 60 days on the market for home sales, which is slightly higher than the previous month and year.
The real estate market in Ankeny City seems to have a positive outlook, however, some reports suggest a negative trend and advise researching other cities for real estate investment.
Housing Market Conditions
Ankeny, IA is home to a booming real estate market. The median listing home price here is $380K and the median sold home price is $350K, with homes typically selling for the asking price. This indicates stability and competitiveness in the area, making it a desirable place to invest.
When considering a move to Ankeny, potential buyers should take time to explore their options. With so many opportunities, it can be overwhelming. Researching the neighborhood and its amenities is essential to finding a home that fits your needs.
It’s also important to consider the average time on the market, the number of listings versus sales, and the median price per square foot. Taking all of these factors into account can help buyers determine the right time to purchase a home.
The Ankeny housing market is an attractive option for those looking to buy or invest in real estate. With a median listing home price of $380K and a median sold home price of $350K, it offers stability and competitive pricing. Doing your research and taking all factors into consideration can help you make an informed decision when looking for a home in Ankeny.
Home Options Available
Ankeny, IA offers many housing selections, giving prospective buyers a variety of styles and budget ranges to pick from. From single-family homes to condos and townhouses, there is something for everyone. This selection of homes caters to different wants and financial situations. Prospective buyers can explore various areas and find a home that fits their needs and desires.
It is important to understand the competitiveness of the market and the factors that influence it. The prices of homes can vary depending on the location, features, and condition. For instance, a home located in a desirable area with modern upgrades can cost more compared to a home located in an average area with fewer upgrades. It is also important to consider the availability of homes. If there is a high demand for homes in an area, prices can go up. On the other hand, if the demand is low, prices may decrease.
Buyers should take into account the current state of the economy. A strong economy can lead to increased demand for homes and higher prices, while a weak economy can lead to lower prices.
Competitiveness of Market
Ankeny, IA offers a wide selection of housing options for buyers. The market is highly sought after, as homes are typically purchased within a short amount of time and close to the list price.
While seeking a desired property may be difficult as buyers may face competition, one can still look around and make a well-informed decision.
All About Ankeny
Founded in 1875 by John Fletcher Ankeny and Sarah Sally Ankeny, Ankeny has a long history that goes back centuries. It began as an agricultural town, producing sorghum and swine, and eventually grew into a thriving community with a diverse economy.
Over the years, the city has seen tremendous growth, and industries like Enterprise Coal Company and John Deere Des Moines Works have set up shop. Ankeny is also known for its excellent educational institutions such as Des Moines Area Community College and Faith Baptist Bible College and Theological Seminary.
But that’s not all—Ankeny is a great place to live, with a strong sense of community and plenty of events and activities for residents to enjoy.
Travel back in time to the historical background of Ankeny. John Fletcher Ankeny and Sarah Sally Ankeny founded the town in 1875. It’s interesting to observe how this town has developed over time.
Ankeny was initially an agricultural community, with sorghum and swine production as its primary activities. The railway’s creation had a substantial impact on the town’s growth. It ran from Des Moines to Ames and went through Ankeny in 1874, allowing people and goods to travel easier, thus helping the town to prosper.
On February 28, 1903, Ankeny became officially incorporated. In the early 20th century, the town’s economy saw growth when the Enterprise Coal Company set up a company town and produced over 100,000 tons of coal in 1914. This industry brought employment and wealth to the area.
In 1947, Deere & Company acquired a factory in Ankeny, which later became the John Deere Des Moines Works. This acquisition reinforced Ankeny’s standing as an important industrial center.
It’s clear that Ankeny’s agricultural beginnings provided a basis for its future growth and success as we look into the next section on economic development.
Explore the rich history of economic development in vibrant Iowa city Ankeny, where opportunities flourished and industries grew. Ankeny started out with an agricultural-based industry centered on sorghum and swine production in the 19th century. The Enterprise Coal Company started a company town in the city and produced over 100,000 tons of coal in 1914, helping the city’s growth. John Deere bought a factory in Ankeny in 1947, and it became the John Deere Des Moines Works, bringing jobs and prosperity.
Ankeny has seen significant economic development in recent years. Ankeny Regional Airport opened in 1994, providing new chances for businesses and better connections. The creation of Prairie Trail, a new district, early in the 2000s has brought in commercial and residential development, further boosting the economy.
As Ankeny goes through rapid growth, the city has plans to improve infrastructure and attract businesses for economic prosperity. People in the community are involved in shaping the city’s future to make sure it remains a vibrant and thriving place to live and work.
Infrastructure and Services
Ankeny City Hall is the hub of the city’s administrative operations, symbolizing the unity and cohesion of the community with its official motto, ‘Bringing it all together.’
An interactive map makes it easy to explore the city, which covers an area of 29.33 square miles.
The city has invested in public facilities, such as schools, parks, and recreational centers, providing quality amenities and services for its residents.
It is also home to the Kirkendall Public Library that opened in February 2020, offering an array of educational resources and community programs.
Ankeny’s commitment to infrastructure development and service provision has been acknowledged. It has received recognition for its efforts in creating a high quality of life for its citizens.
Recognition and Rankings
Discover the impressive recognition and rankings that highlight the outstanding qualities of this vibrant city and its commitment to creating a high quality of life for its residents.
Ankeny was honored by Family Circle in 2008, making it one of the top ten towns for families, a testament to its family-friendly environment and amenities. In 2009, MONEY Magazine ranked Ankeny No. 62 on its list of the top 100 places to live, illustrating its desirability as a residential destination. Moreover, the 2020 census shows that Ankeny is the seventh most populous city in Iowa, a testament to its appeal and growth.
Known as one of the fastest-growing cities in the state, Ankeny has been praised for its progress and development. The city opened the new Kirkendall Public Library in February 2020, providing residents with modern and accessible resources. Ankeny’s recognition and rankings demonstrate its dedication to providing quality services, promoting community engagement, and fostering a high quality of life.
Looking ahead, Ankeny continues to experience rapid growth and has plans for further infrastructure improvements. The city is actively attracting businesses and promoting economic prosperity. Ankeny is committed to maintaining its vibrant and thriving status, ensuring a bright future for its residents and the community as a whole.
As Ankeny continues its rapid growth, exciting plans for future development are forming. The city is dedicated to inviting businesses and promoting economic prosperity. With its flourishing community and strong feeling of civic engagement, Ankeny aims to stay its status as a lively and successful city.
Key focuses of future advancement in Ankeny include infrastructure improvements. The city has big plans to enrich its transportation networks, such as roads, bridges, and public transit. These changes will not only make commuting more convenient for people living there but also draw in more businesses to the region.
Apart from infrastructure, Ankeny is actively working on constructing extra recreational options for its citizens. Projects are underway to create fresh parks, trails, and sports facilities. These extras will give people more chances for outdoor activities and contribute to the general quality of life in the city.
Ankeny is also investing in its educational institutions. The city acknowledges the significance of providing quality educational opportunities for its citizens and is constantly striving to upgrade its schools and colleges. This devotion to education will further enhance Ankeny’s appeal as an alluring place to live and raise a family.
With its progressive thinking and community involvement, Ankeny is forming its future as a dynamic and prosperous city. The residents’ active role in sculpting the city’s growth guarantees that Ankeny remains a place where people desire to live, work, and play.