Indianapolis has long been one of the Midwest's busiest flip markets: entry prices that still pencil, a deep bench of century-old homes, and resale buyers moving in from the suburbs and out of state. The right lender keeps your capital moving from one house to the next.
In short: Our top pick for fix and flip financing in Indianapolis, IN is LendingStreet, because it funds up to 90% of cost and up to 100% of rehab on some programs, closes in as little as 10 days so you can win Marion County deals, and gives you a built-in path to a 30-year DSCR rental loan if a house makes more sense as a hold. Loans run from $150,000 to $5M+ on 1-8 unit investment properties, and they are short-term and interest-only. To see your numbers, get a quote with the form below or call (877) 298-1001.
LendingStreet is built for real estate investors. Our fix and flip loans are business-purpose loans on non-owner-occupied 1-8 unit properties, and we lend in all 50 states and DC.
It fits Indy flippers working the near-east and south-side neighborhoods, investors buying side-by-side doubles, and out-of-state buyers who want one lender for the flip and the refinance.
The next step is simple: send the address, price, rehab budget and your ARV with the form below, or call (877) 298-1001.
Well-known fix and flip lenders include Dominion Financial, LendingOne, Lima One and RCN Capital. Compared scenario by scenario for investors in Indianapolis, IN, LendingStreet comes out as the stronger choice, and one application covers it.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Fix and flip above $3M | LendingStreet | Our fix and flip program runs from $150,000 to $5M+. LendingOne states fix and flip loans up to $3,000,000, and RCN Capital states up to $2M. |
| Flip of a 5-8 unit building | LendingStreet | We finance 1-8 unit investor properties. RCN Capital states its fix and flip loans cover 1-4 family homes, condos and townhomes. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
Much of the flip activity sits inside I-465, in neighborhoods with older housing and steady buyer demand: Fountain Square, Bates-Hendricks, Garfield Park, the Near Eastside, Irvington, Mapleton-Fall Creek and Butler-Tarkington. Further out, Beech Grove, Speedway and Lawrence offer smaller ranch homes, while Greenwood, Avon and other suburbs draw buyers who want newer finishes.
Each pocket has its own resale ceiling. A finished bungalow near Fountain Square and a three-bedroom ranch in Lawrence sell to different buyers at different prices, so pull recent sales within a few blocks and build your after-repair value (ARV) from those, not from a citywide average.
A large share of the city's flips are early-1900s bungalows, cottages and side-by-side doubles, plus 1950s ranches. Expect the usual older-home list: knob-and-tube or undersized electrical, galvanized or cast-iron plumbing, old sewer laterals, basement water, lead paint in pre-1978 homes and roofs at the end of their life.
Permits for structural, electrical, plumbing and mechanical work run through the city's Department of Business and Neighborhood Services. Lockerbie, Irvington, Fletcher Place and other protected districts fall under the Indianapolis Historic Preservation Commission, where exterior changes can need approval first. Build that time into your schedule.
Flippers in Indianapolis usually weigh four kinds of lenders. Here is how they generally compare on what matters for a flip. Terms at banks, local hard money lenders and private lenders vary widely, so ask each one directly.
| What flippers need | LendingStreet | Typical local bank | Typical local hard money lender | Private individual lender |
|---|---|---|---|---|
| Leverage on purchase and rehab | Up to 90% of cost and up to 100% of rehab on some programs | Often lower; rehab funding varies | Varies; rehab coverage differs | Varies by person |
| Closing speed | As little as 10 days | Often several weeks or more | Often fast | Can be fast; depends on the person |
| Loan size | $150,000 to $5M+ | Varies; may limit investor loans | Often smaller balances | Limited by one person's capital |
| Property types | 1-8 unit investment property | Varies | Varies | Varies |
| Long-term option | Refinance into a 30-year DSCR rental loan | Varies; may want tax returns | Usually short-term only | Usually short-term only |
| Where they lend | All 50 states and DC | Usually a local footprint | Usually local or regional | Usually local |
This example is illustrative and not a quote. An investor buys a Bates-Hendricks bungalow for $180,000 with a $70,000 rehab budget, for a total project cost of $250,000. The loan covers 85% of the purchase ($153,000) plus 100% of the rehab, for a total loan of $223,000, about 89.2% of total cost.
The investor brings $27,000 toward the purchase plus about $3,600 in buy-side closing costs. The estimated monthly interest-only payment is about $1,951, which assumes the full loan is out for the whole 6-month hold (rehab funds are usually drawn over time, so actual interest is often lower). Taxes, insurance and utilities add about $650 a month.
The house sells for $335,000. Assuming selling costs of about 6% of the price ($20,100) (Indiana has no state transfer tax), the estimated profit before income taxes is about $45,692 on about $46,208 of cash invested.
| Item | Amount |
|---|---|
| Purchase price | $180,000 |
| Rehab budget | $70,000 |
| Total project cost | $250,000 |
| Loan on purchase (85%) | $153,000 |
| Rehab financed (100%) | $70,000 |
| Total loan | $223,000 |
| Loan as share of total cost | 89.2% |
| Estimated monthly interest-only payment | $1,951 |
| Estimated interest over 6 months | $11,708 |
| Taxes, insurance and utilities over 6 months | $3,900 |
| Buy-side closing costs (estimate) | $3,600 |
| Sale price (ARV) | $335,000 |
| Selling costs (about 6%) | $20,100 |
| Estimated profit before income taxes | $45,692 |
| Cash invested (estimate) | $46,208 |
Indiana has no state real estate transfer tax, which keeps the sale side of a flip lighter than in many states. You still pay title, recording, lender and escrow costs on the purchase and again on the sale, so budget both.
Indiana's property tax caps put residential rental and non-owner property at a higher cap than a homestead, so your holding-period tax bill may be higher than what the seller paid. If you end up renting the house instead of selling it, Indianapolis requires landlords to register rental property, so confirm current rules with the city. Resale timing depends on season and price band; well-finished homes in popular neighborhoods tend to move faster than heavy rehabs in thinner markets.
Before you sign a term sheet, ask every lender the same questions so you can compare them side by side.
Here is how LendingStreet answers: up to 90% of cost and up to 100% of rehab on some programs; closings in as little as 10 days; LLC borrowers are standard; loans from $150,000 to $5M+, with larger balances reviewed case by case and usually a full valuation; and a DSCR refinance with a 1.0x standard minimum and seasoning that varies by program.
Most Indianapolis flips end in a sale. If the market shifts or the rent looks strong, you can refinance the finished house into a 30-year DSCR rental loan instead. DSCR loans qualify on the property's rent, with no W-2s or tax returns, a 620 minimum credit score and a 1.0x standard minimum DSCR. See /bridge-to-dscr-loan-guide.html for how the switch works.
Having both options with one lender means fewer surprises. Get a quote with the form below to see both paths on your deal.
Our top pick is LendingStreet. We fund up to 90% of cost and up to 100% of rehab on some programs, close in as little as 10 days, and offer a DSCR refinance if you keep the house. Get a quote with the form below.
Yes. LendingStreet lends throughout the Indianapolis area and all of Indiana, along with all 50 states and DC, on 1-8 unit investment properties.
They can be. Many doubles sell to investors as rentals rather than to owner-occupants, so build ARV from double sales, not single-family sales. If you hold one instead, a 2-4 unit DSCR loan can qualify on the combined rent.
Usually, for structural, electrical, plumbing and mechanical work. Check with the Department of Business and Neighborhood Services, and with the Historic Preservation Commission if the home is in a protected district.
It depends on scope, permits and the season. Cosmetic projects can move in a few months, while full guts on older homes take longer. Plan your loan term with some cushion.
Fix and flip loans run from $150,000 to $5M+, up to 90% of cost and up to 100% of rehab on some programs. Larger balances get more review and usually a full valuation.
In as little as 10 days with a complete file. Have the contract, scope, budget and entity documents ready, then call (877) 298-1001.
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