Erie Hard Money Lender

Erie Hard Money Lender

In the Erie 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. Erie 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.

Erie Hard Money Lender FAQ’S

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

What Do Erie Hard Money Lenders Specialize in?

Erie 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 Erie Hard Money Loans?

Erie 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 Erie Hard Money Lenders Look at my Credit Score?

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

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

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

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

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

Refinance an Erie 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 Erie 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 Pennsylvania: Hard money loans in Pennsylvania

Current Real Estate Trends In Erie (2024)

The real estate market in Erie, PA is currently in a seller’s market with high demand and limited stock. October 2023 data shows the median home price in Erie to be $177,000, which has seen an increase of 10.7% year-over-year. The average home value is $168,333, showing a 7.7% rise in the past 12 months.

Homes in Erie generally go pending in around a week, which is a sign of the fast-paced market. Looking ahead, the market outlook suggests a prediction of the median sale price to rise to $163,217, and a median list price of $173,283. Also, homes in Erie are normally sold at or above their listed price, as indicated by the sale-to-list rate of 1.006.

The short-term investment forecast for buying a house in Erie may not be as good, but the long-term outlook points to a rise in average home prices by 2028. People looking to buy or sell a home in Erie must take into account the competitive and changing nature of the market.

Median Home Prices

The current median home price in Erie, PA is $88,886.00 USD, showing a recent increase of 0.1075%. This is a positive sign for the housing market.

Looking further ahead, the forecast for the average home price is expected to reach $94,455.50 USD by 2028, which means investing in Erie real estate could be a great opportunity for those looking to make a profit.

The gradual growth in home prices over time shows a steady market and potential for future appreciation. With this knowledge, it is clear that the real estate market in Erie, PA is an attractive option for buyers.

Taking a closer look at the market, we can explore the current trends and statistics of the Erie housing market.

Market Overview

The market overview for Erie City indicates a high demand for homes in the area. The median list price as of October 31, 2023, is $173,283, which suggests a strong market. In September 2023, a significant portion of sales in Erie City were above the list price, with 47.8% of sales exceeding the list price. Conversely, only 34.9% of sales were below the list price during the same period. Additionally, the median days to pending is short, at only 7, indicating that houses are selling quickly in the market.

These market trends highlight the potential for real estate investment prospects in Erie City. It is important to carefully examine these trends and consider the implications for investment decisions.

Investment Forecast

Investors considering the potential for returns on their investment in Erie City’s housing market should carefully analyze the city’s investment forecast.

Data shows the near-term outlook is not great, with a drop in home values expected in the upcoming year. Nonetheless, the long-term forecast is favorable, with the average home price projected to reach $94,455.50 USD by 2028.

This implies investing in Erie City real estate could generate a gain in the long run.

It is noteworthy that the market has seen a 7.7% increase in home value in the past year, suggesting some recent growth.

Plus, the expected sales price increase of 10.949% over the next 10 years further supports the possibility of investment growth in the city.


All About Erie

Situated in the heart of the state, Erie boasts a long history, beginning with the Indigenous peoples who first inhabited the region thousands of years ago. You can explore the remnants of this era at the Sommerheim Park Archaeological District.

Europeans arrived in the 18th century and constructed Fort Presque Isle, which eventually became a British fortress. Erie was a great contributor to the War of 1812 and the Civil War, with its naval fleet led by Commodore Oliver Hazard Perry’s Niagara.

Nowadays, the city is home to numerous attractions, including Presque Isle State Park, the Erie Maritime Museum, and the Erie Art Museum. Additionally, several higher education institutions, such as Gannon University and Mercyhurst University, are based in Erie.

You can also find a vibrant arts scene, festivals, and outdoor activities like boating and fishing.


Erie, once called the ‘Gem of the Great Lakes,’ is a bustling city with an abundant historical background, offering a wide selection of educational programs, cultural activities, and transportation options.

Located on the banks of Lake Erie, this city has been inhabited by Indigenous peoples for thousands of years. The Sommerheim Park Archaeological District holds relics from the Archaic and Woodland periods, indicating the long history of Indigenous cultures.

Europeans arrived in the eighteenth century, building Fort Presque Isle in 1753. The fort was later abandoned by the French and taken over by the British, becoming part of the contested Erie Triangle after the American Revolutionary War.

In the nineteenth century, Erie had a key role in both the War of 1812 and the American Civil War, with the formation of naval fleets and the presence of Commodore Oliver Hazard Perry’s flagship, Niagara.

Nowadays, Erie boasts a plentiful number of historical landmarks and attractions, such as Presque Isle State Park, the Erie Maritime Museum, and the Erie Art Museum. Also, the city is home to several distinguished educational institutions, like Gannon University and Mercyhurst University, which contribute to the local economy and community.

Erie offers a wide array of cultural and recreational activities, such as art exhibitions, events, and outdoor activities. Transportation options, including main highways, the Erie International Airport, and water transportation, make the city accessible.

History and Indigenous Peoples

Walk through the vibrant city of Erie, Pennsylvania, where people have occupied the land for thousands of years before Europeans arrived. Sommerheim Park Archaeological District houses artifacts from the Archaic and Woodland periods, testifying to the indigenous presence.

In 1753, Europeans began to construct Fort Presque Isle, signifying the start of a new era. Following the American Revolutionary War, Erie was part of the disputed Erie Triangle and relinquished by the Iroquois in 1789.

In 1792, the land became part of Pennsylvania and the settlement of Erie began the following year. Andrew Ellicott was pivotal in establishing the city’s plan, and it rapidly grew. Noteworthy events during the 19th century included the formation of a naval fleet in the War of 1812 and Erie taking part in the American Civil War. The Battle of Lake Erie, in which Commodore Oliver Hazard Perry’s flagship, Niagara, was integral, is a major part of history.

Explore the city’s landmarks and attractions. Presque Isle State Park is beautiful, and Erie Maritime Museum and Erie Art Museum offer captivating exhibits. Erie is known as the Flagship City due to earning the nickname ‘Gem of the Great Lakes.’

Landmarks and Attractions

Discover the historical heritage of this vibrant city as you explore its landmarks and attractions. Erie, once known as the ‘Gem of the Great Lakes’, offers a variety of sites that demonstrate its interesting past.

A must-visit destination is Presque Isle State Park, a stunning peninsula that stretches into Lake Erie. This natural beauty presents spectacular sights, sandy beaches, and plenty of outdoor activities like hiking and fishing.

History buffs should definitely visit the Erie Maritime Museum. Here, you can learn about Erie’s role in naval history, particularly during the War of 1812. The museum houses items and displays that tell the story of the Battle of Lake Erie, where Commodore Oliver Hazard Perry led the American fleet to victory.

Art lovers will adore the Erie Art Museum. This cultural center features a wide selection of contemporary and traditional artworks, displaying the skill of local and international artists.


Erie is an incredible place to discover educational opportunities and gain knowledge. Offering esteemed institutions like Gannon University, Mercyhurst University, and Penn State Behrend, the city offers a multitude of options for students at all levels. From undergraduates to graduate students, there is an abundance of courses and programs available to suit any field of study.

Not only do these universities provide enriching learning experiences for students, but they also help to boost the local economy and community.

Erie additionally houses numerous community colleges and technical schools, providing expertise in certain skills and career paths. With these institutions, students are able to obtain the necessary education to excel in their chosen fields.

Erie’s educational institutions strive for excellence in academics. Boasting cutting-edge facilities, passionate faculty, and an encouraging learning environment, these universities support students in reaching their academic objectives.

Cultural and Recreational Activities

Experience the lively art scene and get acquainted with the cultural legacy of Erie through its lively theaters, galleries, music venues, and festivals and events throughout the year. Erie has a variety of cultural and recreational activities that you can enjoy.

The city is teeming with theaters, galleries, and music venues that will pique any art-lover’s interest. Art aficionados can watch local community theater or touring Broadway shows in the theaters. Galleries display amazing works of art by local artists and international renowned exhibitions. Music venues feature an extraordinary lineup of concerts and performances ranging from different genres.

Erie is also known for its splendid festivals and events that celebrate its unique culture. There is always something to look forward to in the city – the Erie Maritime Museum and Erie Art Museum festivals, the county fair, and the Celebrate Erie event. These occasions give you the chance to witness local customs, sample mouthwatering food, and appreciate live entertainment.

For outdoor fans, Erie has a lot of recreational activities to offer. With its location beside Lake Erie, you can go boating, fishing, and hiking. The nearby Presque Isle State Park is a must-see for nature admirers, with its breathtaking beaches, trails, and bird-watching areas.