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 Minnesota: Minnesota hard money lender

Current Real Estate Trends In Bloomington (2024)

The real estate market in Bloomington, Minnesota has been favorable for buyers and sellers alike. In September 2023, the median listing home price was $374,000, representing an increase of 3.9% compared to the same period last year.

Homes in the city generally sell close to their asking price, with a sale-to-list price ratio of 100%. Right now, the market is a seller’s market due to a higher demand for housing than the available supply. Nevertheless, the homes are sold in a timely manner, taking an average of 24 days to be sold.

The home value for the area is estimated at $352,785, showing a 2.1% rise over the past year. Different neighborhoods may have different median values.

Investing in a house in Bloomington is predicted to be profitable as the average home price is expected to rise to $319,328 by 2028.

Real Estate Market Overview

The real estate climate in Bloomington, MN is currently rising, with median home values going up by 3.9% from the previous year. This indicates an eagerness for housing in the area.

Homes in Bloomington are typically selling for close to their asking price, showing a balanced market where both buyers and sellers can come to a reasonable agreement.

All of this points to Bloomington being an attractive choice for real estate investments.

It is vital to evaluate the home values in Bloomington for a thorough comprehension of the market.

Home Values

Home values in Bloomington have been steadily increasing, with a 2.1% growth over the past year. The average cost of a house is now $352,785, showing that the real estate market in the city is in good shape.

Homes in the area move quickly, with the average pending time of 15 days indicating a high demand for properties. This is indicative of Bloomington’s appeal as a place to live and invest in real estate.

It is important to review the near future of the Bloomington housing market and how it may impact home values.

Short-Term Outlook

The short-term outlook for the real estate market in Bloomington City is quite promising. The median home price is currently at $296,129 and is expected to increase to $301,159 in just one year. This projected gain of 1.70% indicates a positive trend in the market.

The cost per square foot is $165, which adds to the attractiveness of the market.

Looking ahead, it is anticipated that the average home price in Bloomington City could reach $319,328 by 2028 and $336,130 by 2033. These projections suggest a continued positive trend in the market and make it unlikely for prices to decline.

The current real estate market in Bloomington City presents a beneficial outlook for investors.


All About Bloomington

This city in the Minnesota River Valley offers a great quality of life and strong commercial and industrial development.

Getting to Bloomington is easy, thanks to its proximity to the freeway. Don’t forget the Mall of America, the biggest enclosed shopping center in the US, located right here in Bloomington!

This city has a long history, dating back to the 1800s, and its park system covers one-third of its area. But that’s not all Bloomington has! It’s also home to a range of businesses, cultural attractions, and recreational activities.


Did you know that Bloomington, with its diverse terrain and numerous bodies of water, offers a beautiful geography within the Minnesota River Valley? The city covers an area of 38.42 square miles, with 34.68 square miles of land and 3.74 square miles of water.

Bloomington is characterized by its varied terrain, including a sand plain, low hills, and the stunning Minnesota River Valley. This mix of landscapes creates a stunning backdrop for people who live and visit there.

A significant aspect of Bloomington’s geography is the dedication to keeping open space and parkland. Approximately one-third of the city’s area is devoted to parks and open space, providing plenty of chances for outdoor recreation and rest. Notable natural areas include the Minnesota Valleys wetlands and the Hyland Lake Park Reserve, which provide gorgeous views and a chance to get closer to nature.

Also, Bloomington is home to numerous bodies of water, like lakes and ponds. These add to the city’s beauty and provide activities such as boating, fishing, and picnicking by the shore.

Exploring the history of Bloomington reveals how the geography has shaped the city’s development and contributed to its identity.


Bloomington’s past is a captivating journey of growth and development. It all started in the mid-1800s when Peter and Louisa Quinn constructed a cabin in the area. The town of Bloomington was officially incorporated in 1858, and by 1880, its population had grown to 820.

At the turn of the century, the population started to skyrocket, exceeding 1,000 residents. This period of growth brought significant changes to the town. Several schools were consolidated into one larger school, telephone service and automobiles were introduced, and the city’s first large business, Toro Manufacturing Company, was established.

The 1940s and 1950s marked a post-war boom for Bloomington. This era saw the construction of ten new schools and the expansion of infrastructure. Notable developments during this time include the building of Interstate 35W and Metropolitan Stadium. Additionally, the city’s government underwent a transition to accommodate the growing population.

As the population continued to grow, parkland was acquired and developed. This acquisition and development of parkland have had a lasting impact on Bloomington’s modern infrastructure and transportation system, which still support the thriving population and economy today.

Infrastructure and Transportation

Cruise down the major freeways connecting Bloomington to the Twin Cities metropolitan area and you’ll find transportation to be a breeze. The two main freeways are Interstate 35W and Interstate 494. These highways provide fast access to downtown Minneapolis and St. Paul, as well as other suburbs. Whether commuting to work, going shopping at the Mall of America, or exploring the city’s parks and recreational areas, these freeways make getting around easy and convenient.

Bloomington has an extensive transportation infrastructure. The Minneapolis–Saint Paul International Airport is one of the busiest in the country, offering domestic and international flights. Residents and visitors can use this airport to travel inside the US or abroad.

The city also has a well-developed public transportation system. Metro Transit operates bus routes throughout Bloomington and connects to other parts of the Twin Cities area. The light rail system, known as the METRO Blue Line, is an efficient mode of transport for commuters.

Bloomington’s transportation options make it easily accessible and connected. Its infrastructure allows for smooth commuting, traveling, and exploring the city and beyond.


Explore the vibrant economy of Bloomington, home to over 100,000 jobs and a booming hospitality industry. This city is a major economic hub in Minnesota, boasting several major companies with their headquarters in the area, such as Ceridian, Donaldson Company, and Great Clips.

The star of Bloomington’s economy is undoubtedly the Mall of America, a massive enclosed shopping center that is the largest in the United States. The mall houses countless stores, restaurants, and entertainment spots, making it a popular destination for locals and tourists alike.

Bloomington is also a prime hospitality spot, offering nearly 8,000 hotel rooms for visitors. The city’s convenient location near major transportation routes and the Minneapolis-Saint Paul International Airport only adds to its economic success. Bloomington offers its residents a great quality of life, with an abundance of jobs and financial stability.

Discover a city that not only excels economically but also has a plethora of recreational and cultural attractions. Bloomington is a place that offers something for everyone to enjoy.

Cultural and Recreational Attractions

The vibrant cultural and recreational attractions of Bloomington offer a diverse range of businesses and industries alongside its rich history and numerous historic sites. Entertainment and leisure activities abound in this city, most notably the Mall of America, the largest enclosed shopping center in the United States. With over 500 stores, a variety of dining choices, and entertainment venues, it’s a shopping experience like no other.

A third of Bloomington is dedicated to parkland, with Hyland Lake Park Reserve and the Minnesota Valley National Wildlife Refuge popular spots for hiking, biking, and wildlife viewing. These peaceful areas are a respite from city life.

For art and culture lovers, the Bloomington Center for the Arts provides a range of performances, exhibitions, and workshops. It’s also home to the Bloomington Symphony Orchestra, which showcases local talent.

Whether you’re looking to shop, explore the outdoors, or explore the arts, Bloomington has something for everyone. Its commitment to preserving its history and providing a high quality of life make it a truly special city.