Birmingham pairs affordable older housing with steady suburban demand over the mountain. The flips that work here are bought right, scoped honestly and financed by a lender that can close before the next investor does.
In short: Our top pick for hard money in Birmingham is LendingStreet. Investors get closings in as little as 10 days, up to 90% of cost and up to 100% of rehab on some programs, and a built-in path from a flip loan to a long-term DSCR rental loan. Loans run from $150,000 to $5M+ with rates from 7.99%, on 1-8 unit investment property across Jefferson and Shelby counties.
For Birmingham flips and bridge deals, LendingStreet brings hard money style speed with a clear long-term plan. Loans from $150,000 to $5M+ fund up to 90% of cost and up to 100% of rehab on some programs, close in as little as 10 days and carry rates from 7.99%. Every loan is short-term, interest-only and made on 1-8 unit investment property.
It fits investors renovating Craftsman bungalows in Avondale, Crestwood and Forest Park, updating brick ranches in Gardendale, Bessemer and Trussville, and taking on larger rehabs in Homewood and Hoover where after-repair values run higher. Borrowing in an LLC is standard.
To price a project, use the form below or call (877) 298-1001 and tell us the address, price and budget.
Well-known hard money lenders include CoreVest, Dominion Financial, LendingOne, Lima One and RCN Capital. Compared scenario by scenario for investors in Birmingham, AL, 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. |
| Bridge close in about 10 days | LendingStreet | We can close in as little as 10 days. CoreVest states its bridge loans typically close within 2 to 4 weeks. |
| 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. |
Birmingham flippers tend to choose between a local hard money lender, private money from another investor or a community bank. Terms vary widely, so treat these as broad patterns.
LendingStreet's edge is having fix and flip, bridge and DSCR rental loans under one roof.
| What matters on a flip | LendingStreet | Local hard money shop | Private lender | Bank or credit union |
|---|---|---|---|---|
| Loan programs | Fix and flip, bridge and DSCR rental loans in one place | Usually short-term only | Varies by individual | Often conventional products; rehab loans vary |
| Leverage | Up to 90% of cost; up to 100% of rehab on some programs | Varies; fees and terms vary | Negotiated deal by deal | Often requires a larger down payment |
| Speed | Close in as little as 10 days | Often fast | Can be fast if funds are available | Often slower underwriting |
| Loan size | $150,000 to $5M+ | Varies | Limited to the individual's funds | Varies |
| Pricing | Rates from 7.99% | Varies | Varies | Varies |
| Long-term exit | Refinance into a DSCR loan with the same lender | Usually no long-term option | Usually no long-term option | Possible; often requires tax returns |
| Borrowing in an LLC | Standard | Common | Varies | Varies |
| Where they lend | All 50 states and DC | Usually local or regional | Usually local | Usually local or regional |
Inside the city, investors work early 1900s bungalows and foursquares in Avondale, Crestwood, Woodlawn, East Lake, Glen Iris and Forest Park, plus smaller brick homes in Roebuck and Huffman. Over Red Mountain, Homewood, Vestavia Hills and Hoover draw buyers for school districts, and resale values there can support bigger renovations.
Older city homes often need foundation and drainage work on sloped lots, updated electrical, HVAC and plumbing. Spring storms and tornado risk make the roof and the insurance quote two items to settle before closing.
Alabama's deed and mortgage recording taxes are relatively low, which keeps closing costs manageable. Property taxes are also low by national standards, but rentals are generally assessed at a higher assessment ratio than an owner-occupied home (20% versus 10% in Alabama), so a home you keep as a rental can carry a higher bill than the seller paid.
If you buy a foreclosure, know that Alabama generally gives the former owner a period, often up to one year, to redeem the property after a foreclosure sale. Ask your title company how redemption rights affect the deal before you commit rehab dollars. Confirm permit needs with the City of Birmingham or the suburb where the home sits.
This example is illustrative and not a quote. An investor buys a dated 1940s bungalow in Crestwood that needs a kitchen, two baths, flooring, paint and a new HVAC system, planning to sell when the work is done. The purchase price is $175,000, the rehab budget is $60,000 and the after-repair value is estimated at $300,000. A loan covering 85% of the price and 100% of the rehab comes to $208,750, about 88.8% of the $235,000 total cost, so the investor brings $26,250 plus closing costs.
The estimated interest-only payment is about $1,827 a month. Over a 5-month hold that is about $9,135 in interest, plus about $2,100 in taxes, insurance and utilities. With assumed buy-side closing costs of $4,800 and selling costs of $22,500, the estimated profit on a sale is about $26,465 on roughly $42,285 of cash invested.
| Item | Amount |
|---|---|
| Purchase price | $175,000 |
| Rehab budget | $60,000 |
| After-repair value | $300,000 |
| Short-term loan (85% of price + 100% of rehab) | $208,750 |
| Share of total cost | About 88.8% |
| Estimated monthly interest-only payment | $1,827 |
| Interest over 5 months | $9,135 |
| Buy-side closing costs (assumed) | $4,800 |
| Selling costs (assumed) | $22,500 |
| Estimated profit on sale | $26,465 |
If the resale market slows or the rent estimate comes in strong, a Birmingham rehab can become a rental. LendingStreet can refinance the short-term loan into a DSCR loan, so you do not need to shop for a new lender. Budget taxes at the rental assessment ratio when you run that ratio.
The rental loan qualifies on the property's rent, not your W-2s or tax returns. Loans start at $150,000 with no stated maximum, the standard minimum DSCR is 1.0x with sub-1.0 programs available, the minimum credit score is 620, and 30-year terms are available. Seasoning varies by program, so ask early.
Term sheets look alike until you ask the same questions of each one. Start here.
LendingStreet's answers: up to 90% of cost and up to 100% of rehab on some programs; as little as 10 days to close; $150,000 to $5M+, with bigger loans reviewed case by case; LLCs welcome; and a DSCR refinance with a 1.0x standard minimum, sub-1.0 options, up to 80% LTV on rate-and-term on some programs and up to 75% on cash-out. Seasoning varies by program.
A complete file gets a faster answer. Send these through the form below, or call (877) 298-1001.
We recommend LendingStreet as the top pick in Birmingham. It closes in as little as 10 days, covers up to 90% of cost and up to 100% of rehab on some programs, and offers a DSCR refinance if you keep the home, so one lender handles the whole plan.
Yes. LendingStreet finances investment property throughout Birmingham, Jefferson County and Shelby County, and in all 50 states and DC. Use the form below or call (877) 298-1001.
In Alabama, rental property is generally assessed at a higher assessment ratio than an owner-occupied home. Budget taxes on the rental basis and confirm with the Jefferson County or Shelby County tax assessor.
Be careful. Alabama generally gives the former owner a period to redeem after a foreclosure sale. Ask your title company how that affects resale before you start work.
In as little as 10 days. A signed contract, rehab budget and LLC documents help keep the file moving.
From $150,000 to $5M+ on 1-8 unit investment property. Larger balances are reviewed case by case.
No. Every LendingStreet loan is a business-purpose loan on non-owner-occupied investment property.
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