Minneapolis rehabs are century-old houses, up-down duplexes and a building season that ends early. The right lender closes fast, funds the boiler and the wiring, and gives you a rental loan when the work is done.
In short: Our top pick for hard money in Minneapolis is LendingStreet. We close in as little as 10 days, finance up to 90% of purchase plus rehab with up to 100% of the rehab on some programs, and offer rates from 7.99% on loans from $150,000 to $5M+. Because we also make DSCR rental loans, a finished duplex can be refinanced on its combined rent with the same lender.
Twin Cities rehabs are old-house projects with a short building season, so time matters twice: once at closing and again when the weather turns. LendingStreet closes in as little as 10 days, finances up to 90% of purchase plus rehab (LTC) with up to 100% of the rehab on some programs, and lends from $150,000 to $5M+ on 1-8 unit non-owner-occupied property. Rates start from 7.99%.
We are an investor lender with fix and flip, bridge and DSCR rental loans in one place. In a city full of up-down duplexes, that means you can buy, renovate and then refinance into a 30-year rental loan without changing lenders.
It fits flippers, BRRRR investors and anyone paying off a maturing loan on a stalled project. Use the form below or call (877) 298-1001 to start.
Well-known hard money lenders include CoreVest, Dominion Financial, LendingOne, Lima One and RCN Capital. Compared scenario by scenario for investors in Minneapolis, MN, 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. |
These are general patterns, not a review of any company. Terms vary from lender to lender.
| What matters on a fast deal | LendingStreet | Typical hard money lender | Private lender | Typical bank |
|---|---|---|---|---|
| Speed | Close in as little as 10 days | Often fast | Can be fast | Often slower |
| Loan-to-cost | Up to 90% | Varies | Negotiated | Usually lower |
| Rehab draws | Up to 100% of rehab on some programs, released after inspection | Varies | Often informal | Often limited |
| Up-down duplexes and small buildings | 1-8 units; combined rent counts on the refinance | Varies | Varies | Often treats 2-4 units differently |
| Rates and terms | From 7.99%; short-term, interest-only | Fees and terms vary | Varies | Varies |
| After the rehab | Sell, or refinance into a DSCR rental loan | Usually short-term only; find another lender to hold | Rarely offers a long-term loan | May offer; often needs tax returns |
| Where they lend | All 50 states and DC | Usually local | Usually local | Usually local |
In Minneapolis, North Minneapolis neighborhoods like Jordan, Folwell, Hawthorne and Webber-Camden have affordable early 1900s homes, while Phillips, Powderhorn, Corcoran, Longfellow, Standish and Northeast mix single-family homes with up-down duplexes. Nokomis and south Minneapolis carry higher resale prices.
Inner-ring suburbs such as Brooklyn Center, Brooklyn Park, Robbinsdale, Crystal, Columbia Heights, Fridley and Richfield have mid-century ramblers and split-levels. Across the river, St. Paul has its own permits and a rent stabilization ordinance, so check those rules before you buy a rental there.
Before most homes in Minneapolis can be listed for sale, the seller needs a Truth in Sale of Housing evaluation, and St. Paul has a similar program. Flippers should read the evaluation on the way in and budget for any items that must be repaired.
Renting a property in Minneapolis requires a rental license, with inspections. Older housing also brings boilers and radiators, knob-and-tube wiring, stone or block basements with water issues, ice dam damage and lead paint in homes built before 1978. Exterior work and roofing slow down in winter, so plan the schedule around the season.
This example is illustrative and not a quote. An investor buys an up-down duplex in North Minneapolis for $248,000 and budgets $96,000 for a new boiler, electrical, two kitchens, lead-safe window work and basement repairs. Total cost is $344,000. At 90% LTC the short-term loan is $309,600, and the investor brings $34,400 plus about $5,600 in closing costs.
The estimated interest-only payment is about $2,838 a month on the full balance. A 6-month winter-adjusted schedule puts interest at about $17,028, plus about $2,580 in taxes and insurance.
After the rehab, the building appraises at $440,000, and the two units lease for a combined $3,150 a month. A DSCR refinance at 75% is $330,000, with estimated principal and interest of about $2,251. Taxes of $420 and insurance of $190 bring the payment to about $2,861, for a DSCR of about 1.10x. The refinance repays the short-term loan and returns about $20,400 before refinance closing costs, leaving about $39,208 of the investor's cash in the building.
| Item | Amount |
|---|---|
| Purchase | $248,000 |
| Rehab | $96,000 |
| Short-term loan at 90% LTC | $309,600 |
| Interest-only payment | $2,838 a month |
| Appraised value after rehab | $440,000 |
| DSCR refinance at 75% | $330,000 |
| Estimated principal and interest | $2,251 |
| Total payment with taxes and insurance | $2,861 |
| Combined rent | $3,150 |
| DSCR | About 1.10x |
Minnesota charges a state deed tax on the sale price, with a small additional rate in Hennepin and Ramsey counties, and a mortgage registry tax on new mortgages. Title, closing and recording fees apply as well. Ask your title company for current figures.
Many Minnesota foreclosures are handled by advertisement and end in a sheriff's sale, often followed by a redemption period of several months before the buyer gets full rights to the home. That makes sheriff's sales a slow, cash-heavy path; most investors finance purchases from owners, estates and banks instead.
Our DSCR loans qualify on the property's rent, with no W-2s or tax returns, a 620 minimum credit score, LLC borrowers standard and 30-year terms available. Cash-out goes up to 75% LTV with a 1.0x standard minimum DSCR, and seasoning varies by program. Our bridge-to-DSCR guide explains the timing.
If you sell instead, plan for the Truth in Sale of Housing evaluation and any required repairs before listing.
Ask each lender the same questions:
Send the address, price, rehab budget, evaluation report if you have it, and expected rents through the form below, or call (877) 298-1001.
LendingStreet is our top pick: closings in as little as 10 days, up to 90% LTC with up to 100% of rehab on some programs, and a DSCR refinance for the duplexes and older homes investors keep.
Yes. We lend in Minneapolis, St. Paul and across Minnesota, and in all 50 states and DC on 1-8 unit investment property.
Rates start from 7.99%. Your rate depends on leverage, the property and your experience.
A required evaluation before most Minneapolis homes can be listed for sale, which can flag items that must be repaired. St. Paul has a similar program.
Yes. Minneapolis requires a rental license with inspections. Check current rules with the city.
Yes. We finance 1-8 unit properties, and the DSCR refinance uses the combined rent of both units.
Sheriff's sales are usually cash purchases with a redemption period afterward, so most investors use our loans for purchases from owners, estates and banks.
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