Hard Money Lenders Maine

Hard Money Lenders Maine
state flag of Maine

Popular Cities For Lending in Maine

Old Orchard Beach

South Portland

In the Maine 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. Maine 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.

Maine Hard Money Lender FAQ’S

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

What Do Maine Hard Money Lenders Specialize in?

Maine 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 Maine Hard Money Loans?

Maine 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 Maine Hard Money Lenders Look at my Credit Score?

One of the greatest benefits of working with Maine 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 Maine even if you have bad credit or poor credit, bankruptcies, and foreclosures in the past. Maine Hard money lenders primarily care about the property you are purchasing.

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

Interest rates for hard money loans in Maine 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 Maine, 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 Maine Hard Money Lender?

There are many benefits to working with a Maine 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 Maine 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 Maine, 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 Maine?

When you want a hard money loan in Maine, 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 Maine 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 Maine Hard Money Loan?

Refinance a Maine 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 Maine 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.

Current Real Estate Trends In Maine (2024)

The real estate market in Maine is experiencing some significant trends. Home sales have decreased and there is a shortage of available properties. This has caused buyers to be competitive, often making aggressive offers and engaging in bidding wars, particularly in more populated areas such as Cumberland and York counties.

The lack of inventory and influx of people has created an affordability crisis within the state. Attempts to increase inventory and build new homes have been slow. Despite national trends, the Maine housing market has diverged and homes are selling more quickly.

Buyers may find opportunities, including possible price decreases and more favorable conditions in rural areas. Yet, prices are still rising, inventory is still low, and first-time homebuyers have difficulty entering the market. Mortgage rates also have an effect on housing demand and affordability.

To improve the housing market in Maine, conversations and actions must continue.

Home prices in Maine

Maine’s housing market is currently experiencing a surge in home prices, with the median sale price for a single-family home reaching an unprecedented $367,500 in April. This marks a $30,000 increase from the previous record set in June 2022. This growth in prices reflects the high demand and low supply in the market.

For buyers, this increase in prices makes it hard to find an affordable home in Maine. As a result, many are struggling to purchase a home in the current market.

The current market trend points to a continued rise in prices. This means that buyers who can afford to buy a home in Maine will likely have to pay more for it than if they had bought a few months ago.

Overall, the current housing market in Maine is experiencing a steep rise in home prices, with buyers having to pay more for a home than ever before. This trend shows no signs of slowing down, making it difficult for buyers to find an affordable home in Maine.

Market frenzy and high demand

The housing market in Maine is experiencing a market frenzy and high demand. Home sales are skyrocketing, causing realtors to struggle to keep up with the influx of offers. Clients are receiving an overwhelming number of showings and offers in a short period, reminiscent of the pre-market slowdown.

April, being a traditionally busy time for home-buying, is likely adding to the already high demand.

All of these factors have resulted in a highly competitive market in Maine. Prospective buyers are thrilled about the current market conditions and are eager to capitalize on the opportunities available.

Impact of rising mortgage rates

Mortgage rates had a noticeable effect on home prices in Maine. After the Federal Reserve raised interest rates in the early part of 2022, median home prices started to decline.

This downward trend continued throughout the year, with a slight increase in October. The influence of higher mortgage rates was obvious, as property values steadily diminished.



All About Maine

Maine, a northeastern state in the United States, is characterized by its distinct geographic and cultural attributes. Boasting a length of 320 miles and a width of 205 miles, it stands as the sole state with a single-syllable name. Maine shares borders with only one neighboring U.S. state. Its highest peak, Mount Katahdin, reaches an elevation of 5,270 feet.

In terms of population, Maine ranks 42nd among all U.S. states, with a total population of 1,362,359 as of 2020. Notably, Maine is renowned for its thriving creative economy, particularly in the coastal and Down East regions, with Portland serving as a prominent hub for creative industries.

Additionally, Maine is celebrated for its delectable seafood cuisine, featuring lobster and clams, as well as its wild lowbush blueberries. The state’s forest industry is also significant, and rugged coastlines, serene mountains, picturesque waterways, and diverse wildlife characterize its landscape.

With a rich history dating back to the 17th century, when French and English settlements were established, Maine achieved separate statehood from Massachusetts in 1820 and now stands as the 23rd state in the Union.


Maine’s geography encompasses diverse natural features, including jagged, rocky coastlines, smooth-contoured mountains, heavily forested interiors, and picturesque waterways, making it a state with a rich and varied landscape.

Its jagged, rocky Atlantic Ocean and Bayshore coastlines offer stunning views and provide essential habitats for marine life.

Inland, the state is characterized by smooth-contoured mountains, with Mount Katahdin being the highest peak at 5,270 feet.

The heavily forested interior is home to a variety of wildlife and contributes to Maine’s significant forest industry.

Additionally, the state boasts picturesque waterways, such as lakes and rivers, which offer recreational opportunities and scenic beauty.

The diverse geography of Maine sets the stage for exploration and outdoor adventures.

Transitioning to the next section on population, Maine’s geography provides a backdrop for its inhabitants and their way of life.


The population of Maine in 2020 was 1,362,359, ranking it 42nd in terms of population among all U.S. states. With a population density of 43.8 people per square mile, Maine is known for its vast, open spaces and rural character.

The latitude of Maine ranges from 42° 58′ N to 47° 28′ N, while the longitude ranges from 66° 57′ W to 71° 5′ W. The state’s population is spread across diverse landscapes, from the jagged, rocky Atlantic Ocean and Bayshore coastlines to the smooth-contoured mountains and heavily forested interior.

Maine’s population figures play a significant role in shaping its economy, centered around its coastal and Down East regions, particularly in the city of Portland. The state’s population dynamics and economic activities are closely intertwined, contributing to the unique character and development of Maine’s society and culture.


One notable aspect of the economy in Maine is the significance of its coastal and Down East regions as essential centers for the creative economy. These areas are known for their thriving creative industries, with the city of Portland being particularly renowned for its artistic and cultural contributions.

Maine’s coastal location also plays a crucial role in its economy, as the state is famous for its seafood cuisine, especially lobster and clams. Additionally, Maine is known for its wild lowbush blueberries and has a significant forest industry.

The state’s natural resources and creative sectors contribute to a diverse and vibrant economy.

Moving into the history of Maine, it is essential to note the early European settlements and interactions with native populations.


Geographically, the state of Maine possesses a jagged and rocky coastline along the Atlantic Ocean and bays, contrasting with its smooth and contoured mountains and heavily forested interior.

Rugged cliffs, picturesque islands, and numerous fishing harbors characterize the coastal areas. These rocky shorelines provide a habitat for various marine life, including seals, seabirds, and shellfish.

Inland, Maine, is dominated by the Appalachian Mountain Range, with Mount Katahdin being the highest peak. The state’s interior is covered in dense forests, primarily spruce, fir, and hardwood trees.

Maine’s natural features also include many lakes, rivers, and streams, offering opportunities for boating, fishing, and other water-based activities.

Maine’s diverse geography and natural beauty attract outdoor enthusiasts and nature lovers from around the world.

Natural Features

Maine’s diverse natural features, including jagged coastlines, smooth mountains, and picturesque waterways, offer a wide range of outdoor activities and breathtaking scenery.

The state’s rocky Atlantic Ocean and Bayshore coastlines provide beachcombing, boating, and whale-watching opportunities.

Inland, the smooth-contoured mountains, such as Mount Katahdin, attract hikers and climbers.

Maine’s heavily forested interior is a haven for wildlife enthusiasts and nature photographers.

The state’s numerous lakes, rivers, and streams offer kayaking, canoeing, and fishing opportunities.

Additionally, Maine is known for its wild lowbush blueberries, which can be enjoyed while hiking through the state’s scenic trails.

With its diverse natural features, Maine provides a unique and captivating outdoor experience for visitors and residents alike.