Iowa flips are steady rather than flashy. Des Moines, Cedar Rapids, the Quad Cities and Iowa City have older homes at reasonable prices, and the investors who do well there keep costs tight and move quickly.
In short: Our top pick for hard money in Iowa is LendingStreet. We offer hard money style speed, closing in as little as 10 days, with up to 90% of cost and up to 100% of rehab on some programs. Rates start from 7.99%, and loans run from $150,000 to $5M+. If you would rather keep the finished home, we can move it into a 30-year DSCR rental loan.
Here is what you get with LendingStreet in Iowa: hard money style speed, closing in as little as 10 days, with up to 90% of cost and up to 100% of rehab on some programs. Loans start at $150,000 and go to $5M+ on non-owner-occupied 1 to 8 unit property, and rates start from 7.99%.
These loans suit experienced flippers, newer investors with a solid scope and contractor, and buy-and-hold investors who need to renovate first. When the work is done, you can sell or refinance into one of our 30-year DSCR rental loans.
Get a quote with the form below or call (877) 298-1001, and the team will size the loan on your numbers.
Well-known hard money lenders include CoreVest, Dominion Financial, LendingOne, Lima One and RCN Capital. Compared scenario by scenario for investors in Iowa, 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. |
Greater Des Moines leads Iowa flip activity. Investors buy older homes in Beaverdale, Highland Park, Drake and the south side of Des Moines, plus dated ranches in Urbandale, Windsor Heights and Ankeny. West Des Moines has higher prices and fewer distressed homes.
Cedar Rapids and Iowa City offer older frame homes and student and medical-center rentals. The Quad Cities, led by Davenport and Bettendorf, have low entry prices. Waterloo, Sioux City, Council Bluffs, Ames and Dubuque round out the state.
Here is a fair, general look at how LendingStreet lines up against the lender types Iowa investors usually consider for a flip.
| What investors need | LendingStreet | Typical local hard money lender | Typical private lender | Typical bank or credit union |
|---|---|---|---|---|
| Speed to close | As little as 10 days | Often fast | Varies by person | Usually slower; full underwriting |
| Leverage | Up to 90% of cost | Varies; fees and terms vary | Varies by deal | Often lower on distressed homes |
| Rehab funding | Up to 100% of rehab on some programs | Varies | Varies | Often limited for heavy rehab |
| Loan size | $150,000 to $5M+ | Often smaller limits | Limited by the person's capital | Varies |
| Borrow in an LLC | Yes | Usually | Usually | Varies |
| Long-term option | DSCR rental loan with the same team | Short-term only | Short-term only | May need tax returns and W-2s |
| Rates | From 7.99% | Varies | Varies | Varies |
Iowa handles title differently from most states. Iowa uses a state-run title program and attorney title opinions instead of private title insurance, so your closing team will look a little different. The state transfer tax is $0.80 per $500 of value.
Iowa foreclosure is usually judicial, and redemption rights can apply after the sale. That slows distressed inventory and adds steps when you buy after a sheriff's sale, so confirm title carefully.
Property taxes in Iowa are moderate to high relative to prices, and rental property does not get the homestead credit. Use the full figure from the county assessor in your numbers.
Permits come from the city building department, such as Des Moines, Cedar Rapids or Davenport, or from the county for rural property. Some Iowa cities also have rental inspection or rental certificate programs, so check before you lease a finished home.
Iowa's older stock often needs foundation and basement water work, roofs, siding, windows and heating upgrades. Several river cities, including Cedar Rapids and Davenport, have flood zones, so check the flood map and insurance cost before you buy. Pre-1978 homes call for lead-safe practices.
This example is illustrative and not a quote. An investor buys a Des Moines Beaverdale home for $165,000 with a $50,000 rehab budget, for a total cost of $215,000. At 90% of cost, the loan is $193,500, and the investor brings $21,500 plus about $4,125 in estimated purchase closing costs.
The estimated interest-only payment is about $1,693 a month, or $10,158 over a 6-month hold, assuming interest on the full balance for simplicity. If the home sells at an after-repair value of $280,000 with about $22,400 in selling costs, the estimated profit before income taxes is about $28,317.
If the investor keeps it instead, a DSCR refinance at 70% of the $280,000 value is a $196,000 loan, which pays off the $193,500 flip loan. Estimated principal and interest on a 30-year term is about $1,370. With $380 in monthly taxes and $120 in insurance, the total is $1,870. At $1,900 a month in rent, the DSCR is about 1.02x. The new loan covers the flip loan payoff with about $2,500 left over before closing costs. We used 70% rather than the 75% cash-out maximum so the ratio stays at or above 1.0x on this Iowa rent.
| Item | Amount |
|---|---|
| Total cost (purchase plus rehab) | $215,000 |
| Loan at 90% of cost | $193,500 |
| Estimated interest-only payment, monthly | $1,693 |
| Estimated carry over the hold | $10,158 |
| Estimated profit if sold | $28,317 |
| DSCR refinance loan at 70% | $196,000 |
| Estimated principal and interest | $1,370 |
| Taxes and insurance, monthly | $500 |
| DSCR at $1,900 rent | About 1.02x |
Local hard money is usually short-term only, so investors who want to keep a home must go find a long-term lender while the clock runs on the flip loan.
LendingStreet closes that gap in Iowa. When the rehab is done and the property is leased, you can refinance into a 30-year DSCR loan that qualifies on the rent, with no tax returns and LLC borrowers welcome. Cash-out goes up to 75% LTV, rate-and-term goes up to 80% on some programs, and seasoning varies by program.
Use these questions to compare any lender on the same terms.
Here is how we answer each one: up to 90% of cost; up to 100% of rehab on some programs; as little as 10 days to close; $150,000 to $5M+; borrowing in an LLC is standard; we walk you through how rehab funds are released; and our DSCR loans give you a long-term option at a 1.0x standard minimum, with seasoning that varies by program.
LendingStreet is our top pick, because it pairs fast closings and up to 90% of cost with a DSCR refinance option that most local hard money lenders do not offer. Send your deal with the form below.
Yes. LendingStreet lends on non-owner-occupied 1 to 8 unit investment property statewide in Iowa, and in every other state and DC.
Yes. Iowa uses a state-run title program and attorney title opinions instead of private title insurance. Your closing team will handle it, but expect a slightly different process than in other states.
In some cities, yes. Parts of Cedar Rapids, Davenport and other river towns are in flood zones. Check the flood map and get an insurance quote before you make an offer.
No. We offer fix and flip and bridge loans plus 30-year DSCR rental loans, so you can move from a flip loan to long-term financing with the same team.
In as little as 10 days. Timing depends on title, insurance and how quickly documents come in, so send the full file early.
Yes. LLC borrowers are standard for our investor loans. You may also be asked to sign for the loan personally, depending on the program.
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