Biddeford Hard Money Lender

Biddeford Hard Money Lender

In the Biddeford 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. Biddeford 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.

Biddeford Hard Money Lender FAQ’S

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

What Do Biddeford Hard Money Lenders Specialize in?

Biddeford 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 Biddeford Hard Money Loans?

Biddeford 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 Biddeford Hard Money Lenders Look at my Credit Score?

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

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

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

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

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

Refinance a Biddeford 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 Biddeford 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 loans

Current Real Estate Trends In Biddeford (2024)

Real estate trends in Biddeford, ME show a mixed picture. As of September 2023, the median listing home price is $440,000, experiencing a year-over-year decrease of -4.1%. The median listing home price per square foot is $289, and the sale-to-list price ratio stands at 115.36%.

The average days on the market suggest a rapid turnaround, with homes typically staying listed for 23 days. While these stats may seem positive, Biddeford is currently a buyer’s market due to an overabundance of homes in comparison to the demand.

The median days on the market have slightly risen compared to the previous year, though they have decreased since the prior month. Investing in the short-term is not recommended, but flipping houses may still be a profitable venture.

Home prices in Biddeford are estimated to reach $310,459 by 2028. This piece examines the current real estate trends in Biddeford, providing objective, data-driven insights for potential buyers and sellers.

Average Home Prices

The housing market in Biddeford, ME is on the rise, with average home values increasing 6.7% in the past year to reach $456,277. Attracting buyers and investors alike, the city’s real estate sector has seen considerable growth and is becoming increasingly desirable.

Factors driving this growth may include Biddeford’s desirable location in Maine, as well as its amenities and quality of life.

To get a better understanding of the current housing market, it is important to consider market forecasts. Analyzing these forecasts can provide insights into the future trajectory of home prices and help buyers and investors make informed decisions.

Market Forecast

Based on the data available, Biddeford’s housing market appears to be on an uptrend. The average home value in Biddeford is currently $456,277, which has seen a 6.7% growth in the past year. This is an indication of a promising outlook for the market in question.

The median sale to list ratio and the percentage of sales over list price are also signs of high demand and stiff competition among buyers. These factors point to an expectation of higher home prices in Biddeford.

Buyer and Seller Market

In the housing market of Biddeford, ME, there is an advantage for buyers with a great selection of homes available for them to choose from. Homes have been selling after an average of 23 days on the market, and the median listing home price per square foot is $289.

The sale-to-list price ratio is 115.36%, showing that homes in Biddeford are typically selling above their listed prices. The median listing home price in September 2023 was $440K, but there has been a year-over-year drop of -4.1%.

Despite this, the median days on the market have gone down in comparison to last month, hinting at a potential increase in demand.


All About Biddeford

Welcome to Biddeford! We’ll take you on a journey through the intriguing history, varied geography, and bustling economy of this historic city located in York County, Maine.

Europeans settled in Biddeford back in 1616, making it one of the earliest European settlements in the United States. During King Philip’s War, it was attacked by Native Americans. Over time, it has grown to become a prosperous commercial hub.

Its area includes rolling hillsides, urban hubs, and coastal areas along the Saco River and Atlantic coastline. Biddeford has a humid continental climate with warm summers and cold winters.

Its economy is varied, with healthcare, education, and retail sectors doing well. Landmarks like Saint Joseph’s Church and Wood Island Light are visible in the cityscape. There are also parks, trails, and beach activities for recreational activities.


Biddeford is one of the oldest European settlements in the United States. Its past is steeped in battles with Native Americans during King Philip’s War in 1675.

The city first emerged in 1616 at Winter Harbor and was officially incorporated as Saco in 1653. It was later restructured as Biddeford in 1718.

Over time, Biddeford experienced rapid industrial growth, particularly in the nineteenth century when mills and factories were built. The textile industry was historically the main driver of the city’s economy, though it eventually declined.

But Biddeford has since been transformed and revitalized, becoming the main commercial hub of York County.

The city’s landscape is a testament to its history. It spans a total area of 59.08 square miles and features varied geography, including hilly terrain, urban landscapes, and coastal regions.

The stunning Saco River and picturesque Atlantic coastline, with its seaside neighborhoods, add to Biddeford’s charm.

Biddeford is also well-connected to nearby towns and cities via Interstates 95, US Route 1, and several state routes.

Its scenery is breathtaking, featuring natural beauty that is perfect for recreational activities and landmarks.

Geography and Landscape

Explore the diverse geography and stunning landscapes of this historical coastal town. With rolling hillsides, urban areas, and coastal regions seamlessly blending together, Biddeford, located in York County, Maine, presents an area of 59.08 square miles.

The city is blessed with the natural beauty of the Little River and the Saco River, which provide a picturesque backdrop. As you travel through Biddeford, you’ll encounter a mix of neighborhoods, bustling urban areas, and tranquil coastal stretches. The city’s frontage along the Saco River and its Atlantic coastline offer breathtaking views and seaside activities.

Transportation infrastructure makes easy movement within and beyond Biddeford a reality. Interstate 95, U.S. Route 1, and several state routes all pass through the city, connecting it to neighboring towns and cities. Whether you’re traveling by car, bike, or foot, Biddeford’s convenient location has you covered.


Nestled along the Gulf of Maine, Biddeford boasts a humid continental climate, allowing for prominent seasonal temperature differences. Classified as Dfb on climate maps, this charming city is situated in the Gulf of Maine region, where the Atlantic Ocean influences its climate, bringing a refreshing coastal breeze.

The climate of Biddeford has an impact on the city’s recreational opportunities. In the summer, locals and tourists alike enjoy activities like walking the beaches, boating on the Saco River, and fishing in the Atlantic. During the winter, a blanket of snow covers the city, giving it a picturesque winter wonderland.

Apart from recreational activities, the climate of Biddeford has impacted its economy. The unique geography of the area has attracted tourists and outdoor enthusiasts, which has contributed to the city’s economic growth. Additionally, industries such as healthcare, education, and retail have benefited from this vibrant coastal community.

Economy and Industries

Immersing yourself in the vibrant coastal community of Biddeford, you’ll discover the diverse industries and economic opportunities that thrive in this bustling city. Once renowned for its textile mills and manufacturing, Biddeford has experienced a significant transformation in its economy. The textile industry has declined, yet the city has seen redevelopment and diversification, making it the principal commercial center of York County.

Today, Biddeford is home to a host of businesses, including healthcare, education, and retail. It is proud to host the University of New England, which provides numerous undergraduate and graduate programs, contributing to the educational and economic landscape of the area. This focus on education has provided Biddeford with a strong foundation for continuous learning and growth.

Exploring the city, you will find a variety of landmarks and attractions that add to its charm. From the towering Saint Joseph’s Church, the tallest building in Maine, to the historic Town Hall and Fort Mary, Biddeford has a fascinating history to discover. Not to mention, the natural beauty of Biddeford Pool and Fortunes Rocks, together with the Rachel Carson National Wildlife Refuge, offer a tranquil respite from the hustle and bustle of city life.

Landmarks and Attractions

When you visit Biddeford, Saint Joseph’s Church is an absolute must-see. This majestic building is the tallest in Maine and stands as a proud symbol of the city’s architectural heritage. Constructed in the late 19th century, the church is a stunning example of Gothic Revival style with its intricate stonework and soaring spires. Inside, you will be welcomed by awe-inspiring stained glass windows and a tranquil atmosphere that makes it perfect for contemplation and reflection.

Another attraction worth visiting is the Wood Island Light. Located just off the coast of Biddeford Pool, this picturesque lighthouse has been guiding mariners since 1808. You can take a boat tour or simply admire its beauty from the shoreline.

If you are interested in history, Biddeford has a few hidden gems. You can explore Town Hall and Fort Mary, two historic buildings that offer a glimpse into the city’s past.

Finally, Biddeford’s coastline is a great place to relax and take in the beauty of nature. The beaches, views, and tranquil atmosphere make it an ideal spot to unwind. Biddeford Pool and Fortunes Rocks are popular resort communities within the city that provide various amenities and activities.