Cleveland Hard Money Lender

Cleveland Hard Money Lender

In the Cleveland 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. Cleveland 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.

Cleveland Hard Money Lender FAQ’S

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

What Do Cleveland Hard Money Lenders Specialize in?

Cleveland 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 Cleveland Hard Money Loans?

Cleveland 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 Cleveland Hard Money Lenders Look at my Credit Score?

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

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

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

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

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

Refinance a Cleveland 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 Cleveland 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 Ohio: Hard money loans in Ohio

Current Real Estate Trends In Cleveland (2024)

The real estate market in Cleveland, Ohio is presently exhibiting even conditions, with supply and demand for homes being closely matched. The median listing home price in Cleveland stands at $120,000, with a median listing price per square foot of $81.

The median sold home price is $116,400, and the sale-to-list price ratio is 100%. Generally, homes in Cleveland are sold after 43 days on the market, though the median days on the market has recently grown slightly.

It is worth noting that the median home price in Cleveland has experienced a decrease of 0.199% to $51,508, which implies that buying a house in the city may not be a great short-term investment. However, property investment analysts have an optimistic outlook for the Cleveland property market, forecasting a rewarding trend in the near future.

Consequently, it is wise for prospective investors to thoroughly consider optimal real estate investment strategies and examine detailed price trends and market forecast data before making any investment decisions in Cleveland.

Home Values

Recent data shows that the median value of homes in Cleveland is $100,343, with a small increase of 0.7% in the past year. This indicates a stable real estate market in the city.

To gain a comprehensive understanding of the Cleveland real estate market, it is necessary to consider the market overview, which includes factors such as available properties, new postings, median sale to list ratio, and median sale price.

These elements can provide more insight into the nuances of specific neighborhoods or property types within the city.

Market Overview

Recent data indicates a balanced market in Cleveland, OH, with the quantity of homes for sale and buyers being in close balance. This shows competition among buyers and sellers is healthy. Homes are selling close to asking prices, with the median sale to list ratio being 0.996.

Inventory stands at 1,061 homes as of October 31, 2023, with 372 new listings added in that same period. The median sale price for homes in Cleveland was $105,333 as of September 30, 2023.

These figures demonstrate a stable housing market in Cleveland, OH, and it is now time to look at what the future may hold.


The housing market in Cleveland, OH is estimated to stay in a state of balance in the coming months, with a solid supply of homes on the market and a regular demand from buyers.

Data shows that the median listing home price in Cleveland is $120,000, with a list price per square foot of $81. The median home sold price is $116,400, with a sale-to-list price ratio of 100%.

Houses in Cleveland usually take 43 days to sell, and the median days on the market has slightly gone up since last month but is lower than last year’s.

The short-term housing market outlook for Cleveland signifies that the median home list prices will likely remain steady in the upcoming months. The long-term prediction indicates a potential decrease in sale prices over the next decade.

Generally, the Cleveland housing market is estimated to remain in an equilibrium state with small variations in home values.


All About Cleveland

Welcome to Cleveland, a city of immense history, culture, and economic diversity. Founded in 1796 in Ohio, Cleveland has been a key city in the United States since its beginning. It has grown into a bustling metropolis, known for its industries in higher education, manufacturing, financial services, healthcare, and biomedicals.

You can explore the iconic cultural institutions like the Cleveland Museum of Art, Cleveland Orchestra, and Rock and Roll Hall of Fame. Cleveland’s prime location on the Great Lakes and connection to the Atlantic Ocean via the Saint Lawrence Seaway have helped its growth and expansion.

Although the city has experienced economic struggles, it remains a place where the past meets the future, making it a great destination. So, come explore all that Cleveland has to offer!

Cleveland Metropolitan Area

The Cleveland metropolitan area is the 33rd-largest in the U.S. and home to over 2 million residents. It is located in northeastern Ohio and encompasses the city of Cleveland and its surrounding suburbs.

Cleveland metropolitan area is renowned for its rich history and vibrant cultural institutions. Popular attractions include the Cleveland Museum of Art, Cleveland Museum of Natural History, and the Rock and Roll Hall of Fame. The city also has a thriving performing arts scene, with the Cleveland Orchestra and Playhouse Square bringing in visitors.

The Cleveland metropolitan area has a diverse economy covering sectors such as higher education, manufacturing, financial services, healthcare, and biomedicals. Among its major companies are the headquarters of the Federal Reserve Bank of Cleveland. The area had a GDP of $135 billion in 2019, making it a significant economic powerhouse.

The Cleveland metropolitan area has a deep and fascinating history. It is worth exploring if you ever get the chance.


Explore the rich past of this vibrant city, from its founding in 1796 to its growth as a major commercial and industrial hub in the late 19th century. General Moses Cleaveland established Cleveland near the mouth of the Cuyahoga River and named it after himself. Over the years, it evolved into a bustling city, becoming one of the top 10 U.S. cities by population for much of the 20th century.

In the late 19th century, Cleveland saw tremendous economic growth and became a major center for commerce and industry. Its advantageous location as a transportation hub on the Great Lakes was a major factor in its growth. In 1870, John D. Rockefeller established Standard Oil in Cleveland, further boosting its economic prowess.

However, the city suffered in the 1960s when its economy declined. Despite this, it has developed a diversified economy relying on higher education, manufacturing, financial services, healthcare, and biomedicals. The Federal Reserve Bank of Cleveland and several major companies are located there.

Now, let us look into the city’s economy and the sectors that drive its growth and prosperity.


Cleveland is a city that has seen considerable economic growth, thanks to its varied industries.

Higher education is one of the most notable, with Case Western Reserve University being one of the most prominent universities in the city.

Manufacturing is also an important part of the city’s economy, with automotive, steel, and aerospace industries all having an influence.

Financial services are also a key factor, with the Federal Reserve Bank of Cleveland being located in the city.

Healthcare is another major sector, with hospitals and research institutions providing top-notch medical care. The biomedicals industry has seen a surge in recent years, with companies specializing in pharmaceuticals, medical devices, and biotechnology.

With such diversity, Cleveland has created an economy that is both resilient and prosperous, making it an attractive destination for businesses and providing job opportunities.

Cultural institutions, such as the Cleveland Museum of Art, Cleveland Museum of Natural History, Cleveland Orchestra, and Rock and Roll Hall of Fame, are also major attractions and have helped to contribute to the city’s economy.

Cultural Institutions

Experience the cultural diversity of Cleveland by visiting its renowned institutions.

The Cleveland Museum of Art exhibits artworks representing thousands of years, from ancient Egyptian artifacts to contemporary masterpieces.

Learn about the natural world through engaging exhibits and interactive displays at the Cleveland Museum of Natural History.

For music fans, the Cleveland Orchestra offers excellent performances. It is recognized as one of the best orchestras in the world.

Plus, the iconic Rock and Roll Hall of Fame is a must-see. It pays tribute to the legends of rock and roll with memorabilia, exhibits, and interactive displays.

Cleveland offers an enriching experience for all with its array of cultural institutions.

While exploring these establishments, gain a better understanding of the city’s artistic heritage and creative spirit.


Experience the beginnings of Cleveland as you explore the story of its foundation. In the late 18th century, surveyors from the Connecticut Land Company made their way to the Cuyahoga River and established the city on July 22, 1796. The city was named Cleaveland after General Moses Cleaveland, later shortened to Cleveland. Lorenzo Carter became the first permanent European settler, signaling the start of its growth and development.

During the War of 1812, Cleveland was an important supply post, due to its great location as a transportation hub on the Great Lakes. In 1870, John D. Rockefeller established Standard Oil in Cleveland, aiding its economic prosperity. Countless immigrants from Southern and Eastern Europe, as well as Ireland, arrived in the city in search of industrial jobs.

By 1910, Cleveland had a strong population and industrial presence, earning it the title ‘Sixth City’. Mayor Tom L. Johnson made a huge contribution to the city’s development, introducing the Cleveland Mall Plan and helping to set up major cultural institutions like the Cleveland Museum of Art, which opened its doors in 1916.

Explore the roots of Cleveland, a city that has grown from its humble beginnings into a thriving metropolis with a rich history and vibrant cultural life.