Evanston Hard Money Lender

Evanston Hard Money Lender

In the Evanston 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. Evanston 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.

Evanston Hard Money Lender FAQ’S

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

What Do Evanston Hard Money Lenders Specialize in?

Evanston 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 Evanston Hard Money Loans?

Evanston 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 Evanston Hard Money Lenders Look at my Credit Score?

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

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

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

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

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

Refinance an Evanston 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 Evanston 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 Wyoming: Wyoming hard money loans

Current Real Estate Trends In Evanston (2024)

The real estate trends in Evanston, Wyoming show a buyer’s market with home prices decreasing. In October 2023, the median listing home price was $299,000, a decrease of -20.2% from the year prior. The price per square foot of listed homes is $148, and the median home sold price is $322,200. Homes in Evanston sell close to their listed price, with a sale-to-list price ratio of 100.7%.

The average home value in the area is $278,947, a 4.4% increase year-over-year. Investment potential in Evanston is not promising in the short-term, as market projections indicate a negative trend. However, the long-term forecast predicts an increase in average home prices to $205,950 by 2028.

Although the Evanston property market is currently on an upswing, exploring other cities for real estate investment opportunities is still a good idea.

Home Values

The real estate market in Evanston, Wyoming has seen a steady rise in home values over the past year. The average home value is now $278,947, representing a 4.4% increase. This indicates a strong and positive trend in the housing market, making it an attractive location for property investment.

To gain a comprehensive understanding of the current real estate trends in Evanston, it is important to consider market overview factors. These factors include inventory, sale-to-list ratios, and median days to pending. These factors provide insight into the current housing market and can help inform decisions on whether or not to invest in a home in Evanston.

With the increase in home values, the area is in high demand and is a great place to consider when buying or selling a home.

Market Overview

The market overview data for Evanston City shows that the median sale price on September 30, 2023, was higher than the median list price on October 31, 2023. This means that homes in Evanston City are typically being sold for more than their listed prices.

The data also provides further information about the real estate market in Evanston City. There were 36 homes for sale as of October 31, 2023, which indicates that there is a plentiful supply of properties available. In addition, 12 new listings were added in October 2023, demonstrating the ongoing activity in the market.

The sale-to-list price ratio in Evanston City is 100.7%, which shows that houses are usually going for close to their listed prices.

Overall, the real estate market in Evanston City is active and competitive. Before making any decisions, it is vital to consider all investment advice.

Investment Recommendations

When considering investments in the housing market of Evanston City, one should proceed with caution. Median home values in Evanston have seen a decline over the past year, with a 1.5090% decrease from October 2022 to October 2023.

The short-term forecast for the city is not encouraging either. Price increases may occur in the short-term, but it is unlikely that real estate prices will decrease in the near future. Therefore, it may be a good idea to look at alternative cities that have more favorable market conditions for property investment. Doing so can provide an opportunity to build a better real estate portfolio. 

It is important to remember that short-term and long-term forecasts may vary, and decisions should not be made solely on predictions. To ensure a successful investment, thorough research and comparison of other cities is essential.



All About Evanston

Are you looking for an enticing and eclectic spot for your next journey? Look no further than Evanston, Wyoming. With its long history and picturesque natural attractions, Evanston has something for everyone.

Check out Piedmont Ghost Town to explore the preserved structures and maybe even get a glimpse of renowned historical figures.

Bear River State Park is the ideal spot for a picnic and a peaceful walk along the river, capturing the beauty of the local wildlife.

Main Street will mesmerize you with its small-town charm and colorful street art.

And for a special experience, visit the Homestead Crater during the winter months.

Don’t forget to make a day trip to Salt Lake City’s Christkindlmarkt for a festive atmosphere and one-of-a-kind vendors.

Uncover the delights of Evanston and make memories that will last a lifetime.

Evanston’s History

If you’re interested in Evanston’s past, you’ll be amazed by Piedmont Ghost Town. This former logging camp bustled in the 1860s with a general store, hotel, school, post office, and saloons. Butch Cassidy and Calamity Jane even made their mark here, adding to the town’s history.

You can still witness a glimpse of the past by visiting the preserved charcoal kilns from 1869, made of local limestone and sandstone.

Evanston is not only rich in history, but also in natural beauty. Bear River State Park is a must-see, with its picnic spots, walkways, and a river running through the town. Here, you can experience local wildlife, and maybe even spot bison close by.

Evanston’s natural attractions will surely surprise and delight you.

Local Natural Attractions

Located in the heart of Wyoming, Evanston offers an array of local natural attractions sure to leave you breathless.

Bear River State Park is one of the top must-see spots, allowing visitors to have a picnic by the river or take a calming walk through its picturesque trails. Wildlife can be seen throughout the park, including the magnificent bison. This park never fails to astonish guests with its natural beauty and serenity.

For a winter experience unlike any other, check out Homestead Crater. This geothermal hot spring is tucked away inside a beehive-shaped limestone rock. Put on your warmest clothes and explore the crater, taking in the warm mineral-rich waters and gorgeous rock formations. It’s truly one-of-a-kind and allows you to soak in the wonders of nature.

Evanston’s natural attractions are just the beginning. Take a stroll down Main Street and discover the real Americana charm. Be captivated by the street art and admire the small-town vibes. Each step will uncover hidden beauty and you’ll be amazed by what you find.

Exploring Main Street

Strolling down Main Street in Evanston is an enchanting experience. Americana comes alive with the hidden beauty that waits around every corner. The town has a character that is difficult to find elsewhere, and the street art infuses the atmosphere with a vibrant and creative touch. You’ll be captivated by the historic buildings and the carefully chosen storefronts.

Boutiques, cafes, and bakeries offer something special and unique. But there is even more to explore. A short drive away lies the Homestead Crater, a one-of-a-kind winter wonderland. Step into the depths to discover its natural beauty. Put on your boots and get ready to enjoy the adventure that awaits.

Evanston has something for everyone to enjoy and explore.

Unique Winter Experience

Bundle up in your warmest winter gear and prepare for an unforgettable experience that will leave you in awe. Evanston’s Homestead Crater provides an adventure that can’t be found anywhere else.

Step into a geothermal hot spring nestled inside a 55-foot tall limestone dome and be astounded by the steam rising from the warm water, creating a truly magical atmosphere. Swim, snorkel or scuba dive in the crystal-clear waters and admire the stunning icicles glistening on the dome walls in the sunlight. Relax and enjoy the tranquil ambiance while being immersed in the beauty of winter.

Once you’ve finished your winter experience at the Homestead Crater, take a day trip and explore the surrounding areas. There’s something for everyone, from the breathtaking landscapes of Bear River State Park to the historic charm of Piedmont Ghost Town. Whether you’re looking to view local wildlife or go on outdoor adventures, you’ll find an abundance of activities to suit your interests.

So, pack your bags and get ready for an amazing journey through Wyoming’s diverse landscapes.

Nearby Day Trips

Embark on exciting day trips from Salt Lake City and uncover the gems that are all around you. There are many attractions and landscapes to explore, just a short drive from Evanston.

Travel back in time as you explore the Piedmont Ghost Town and its 1860s logging camp. You can see the preserved charcoal kilns made of local limestone and sandstone. Walk down Main Street and be amazed by the street art and beauty.

Nature lovers should definitely visit Bear River State Park. There are picnic spots and walkways along the river, giving you the chance to look for wildlife. You may even spot a bison! During winter, head to the Homestead Crater and explore the natural hot spring located within a limestone dome.

Spend some time in Salt Lake City and enjoy the festive atmosphere of the Christkindlmarkt. Check out the stalls, try some tasty treats, and soak up the holiday spirit. Want more outdoor activities? Wyoming will not disappoint. There is plenty of adventure to suit all tastes.

Pack your bags and get ready for unforgettable day trips from Salt Lake City. There are lots of hidden gems just waiting to be found.