Augusta Hard Money Lender

Augusta Hard Money Lender

In the Augusta 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. Augusta 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.

Augusta Hard Money Lender FAQ’S

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

What Do Augusta Hard Money Lenders Specialize in?

Augusta 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 Augusta Hard Money Loans?

Augusta 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 Augusta Hard Money Lenders Look at my Credit Score?

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

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

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

There are many benefits to working with an Augusta 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 Augusta 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 Augusta, 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 Augusta?

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

Refinance an Augusta 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 Augusta 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 Maine: Maine hard money lender

Current Real Estate Trends In Augusta (2024)

Augusta, Maine, is experiencing considerable growth in its real estate sector, ranking among the 15 fastest-growing regional real estate markets in the US. According to projections, home prices could rise by as much as 7.7%, a figure that local real estate professionals deem realistic.

Despite this growth, Augusta is facing a few challenges. The amount of properties for sale and rent is insufficient, as is the case with mortgage interest rates and inflation, which have both doubled. These issues make it difficult for first-time homebuyers to enter the real estate market, leading to individuals staying in their current homes and thus more competitive bidding wars among buyers.

Augusta’s real estate market has been an indication of the city’s success, bringing in investment and contributing to job creation and economic development. It is essential to monitor the performance of Augusta’s real estate market to gain a better understanding of the city’s economic landscape.

Home Values

Augusta, Maine is experiencing a surge in home values. The average home value in the city has reached $264,507, reflecting a significant 10.8% increase over the past year. This remarkable growth is a clear indication of Augusta’s appealing real estate market and robust economy. 

The city has earned a coveted position among the top 15 fastest-growing regional markets in the United States, making it the sole representative from Maine and New England. This rise in home values is a positive sign, demonstrating the confidence people have in the local economy’s stability and the potential for financial gain. Now, let’s delve into the factors that are fueling this upward trend.

Market Overview

The market in Augusta is marked by a dynamic interplay of supply and demand, with properties entering and leaving the market quickly.

According to the one-year forecast, Augusta is currently experiencing a buyer’s market, with more supply than demand.

The median listing home price in September 2023 was $237,000, showing a year-over-year drop of 5.2%.

The median listing home price per square foot is $171, and the median home sold price stands at $296,600.

The sale-to-list price ratio amounts to 104.58%.

Houses in Augusta usually stay on the market for an average of 24 days before being sold.

All these figures demonstrate that there is a robust level of activity in the market, with properties trading near their listing prices.

Real Estate Highlights

Augusta’s housing market is a great choice for buyers, with a median listing home price of $237,000 and an abundant supply. Not only is the median listing price per square foot relatively low at $171, but the median sold home price is $296,600, showing potential for property value increases.

Homes in Augusta are also selling at or above their listed price, with a sale-to-list price ratio of 104.58%.

Homes in Augusta typically have a quick turnaround, selling after an average of 24 days on the market.

Augusta’s real estate market is stable and active, offering great opportunities for buyers and sellers alike. With its low prices and quick turnarounds, it’s no wonder why so many are flocking to the area.


All About Augusta

Get ready to embark on a captivating journey through time, culture, and progress.

Located on the banks of the Kennebec River, Augusta has a long past that goes back to the early English explorers who arrived in 1607.

As you explore the city, you’ll find its various neighborhoods and accessible infrastructure, making it easy to get around.

Augusta’s progress is noteworthy, from its successful mill town history to its flourishing agriculture and water-powered industries.

The city has a strong military presence and ongoing efforts to improve its downtown area.

Augusta is also known for its vibrant culture, with numerous events and festivals that display the city’s spirit.

Early Settlement

Augusta, located in Maine, has a long history. English settlers explored the area in 1607, discovering Algonquian-speaking Indians living there. In 1628, a trading post called Cushnoc was established. Then, in 1754, Fort Western was built by the Kennebec Proprietors. The village was given the name Hallowell in 1771 before being renamed Augusta in 1797.

In 1827, the city was chosen as the capital of Maine. Augusta is the easternmost state capital in the United States and is home to the University of Maine. Unfortunately, its location on the Kennebec River makes it prone to floods, as illustrated by the Maine flood of 1987.

The capital city of Augusta has many things to offer. It is a great place to explore and learn about its centuries-old history. It also provides a great educational experience, with the University of Maine located in the city. Augusta has some beautiful views and sites that you can admire.

Capital City and Location

As you explore the vibrant capital city and its location, envision yourself standing on the banks of the majestic Kennebec River. Augusta proudly stands as the easternmost state capital in the United States. This prime spot not only grants Augusta the distinction of being the easternmost state capital, but it also exposes the city to the natural beauty and occasional tribulations of the Kennebec River.

Home to the University of Maine at Augusta, the city has a rich educational setting. Unfortunately, its geographical position also makes Augusta vulnerable to floods, as seen in the devastating Maine flood of 1987.

We now take a look at Augusta’s residential areas and infrastructure, both of which are essential for the city’s daily life and progress. These areas contain five distinct residential regions, each with its own charm and character. The northwest corner of the city is home to the retail center and many other neighborhoods.

Augusta State Airport serves as a great transportation hub for the city, connecting it to the wider world. Moreover, roads such as Interstate 95, U.S. 202, and U.S. 201 pass through Augusta, making transportation and trade easier.

Residential Areas and Infrastructure

Strolling through the vibrant neighborhoods of Augusta reveals five distinctive residential areas, each with its own charm and character. The west side of the city is a mix of old homes and modern developments, creating a tranquil and picturesque ambiance. On the east side, a close-knit community and tree-lined streets create a pleasant suburban feel. The northwest quadrant is a bustling retail center, with plenty of stores, restaurants, and other amenities for residents to enjoy.

One of the best things about living in Augusta is its proximity to nature. Bond Brook, just outside the city, is a paradise for outdoor lovers, offering hiking, biking, and fishing for wild Atlantic Salmon. The city also takes great care in preserving its green spaces, with numerous parks and recreational areas for relaxation and activities.

Augusta is well-connected with the rest of Maine and beyond. Interstate 95, U.S. 202, and U.S. 201 pass through the city. Augusta State Airport serves the area, providing commercial and private flights. This makes Augusta the perfect place for both residents and businesses.

From its residential areas and infrastructure to its rich history, Augusta is a place of many wonders.

Historical Background

Step back in time and immerse yourself in the captivating history of Augusta. English settlers arrived here as early as 1607, living alongside Algonquian-speaking Indians. In 1628, a trading post was built, named Cushnoc.

In 1754, Fort Western was erected by the Kennebec Proprietors. The village that was initially called Hallowell was changed to Augusta in 1797. It became the county seat of Kennebec County two years later.

Throughout its history, Augusta has been a key player in a number of conflicts. During the Revolutionary War, Fort Western was utilized. During the Civil War, Camp E.D. Keyes was established. This camp became a mobilization and training camp during World War I.

The military presence in Augusta remained strong, with the National Guard using Camp Keyes for administrative and logistical purposes.

Economic Development

Augusta has experienced prosperous economic development over the years. In the 19th century, the city had a flourishing mill industry, producing lumber, textiles, shoes, furniture, and more. Agriculture was also prominent due to the city’s excellent soil and access to water power from streams.

In modern times, various sectors of the economy have grown. Government and post-secondary education are now major players in the city’s economy, thanks to the presence of the state capital and the University of Maine at Augusta. Trade and transportation have also been bolstered by Augusta’s location on the Kennebec River.

The city’s economic development has always had an underpinning of natural resources. Augusta’s fertile soil has enabled the growth of agricultural endeavors, while water power from streams has allowed for mills and manufacturing industries to take root. Additionally, the city’s capital status has drawn in government-related businesses and services.

Efforts have been made to revitalize the downtown area on Water Street. Major highways such as the Maine Turnpike and Interstate 95 had led commercial ventures away from the area, but these efforts are aiming to bring life back into the district.

Augusta’s economic development has been supported by its natural resources and strategic location, as well as its current focus on government and education. The city is continuing to evolve and adjust to changing trends, hoping for a strong and diverse economy.