Minnesota flips run on a short season and a long list of city rules. Investors who close quickly in spring and finish exterior work before the snow tend to come out ahead.
In short: Our top pick for hard money in Minnesota is LendingStreet, an investor lender with fix and flip, bridge and DSCR rental loans in one place. Why investors choose LendingStreet: it brings close times as short as 10 days, leverage up to 90% of cost with up to 100% of rehab on some programs, and a DSCR refinance for Twin Cities and Rochester homes that make better rentals than sales. Rates start from 7.99%, loans run $150,000 to $5M+, and we lend in all 50 states and DC.
LendingStreet offers fix and flip and bridge loans for 1-8 unit residential investment property in Minnesota. Loans run from $150,000 to $5M+, cover up to 90% of cost and up to 100% of rehab on some programs, and can close in as little as 10 days. They are short-term and interest-only, with rates from 7.99%.
It fits investors renovating older homes in Minneapolis and St. Paul, split-levels and ramblers in the first-ring suburbs, and houses in Rochester, Duluth and St. Cloud. LLC borrowers are standard, and when a finished home makes more sense as a rental, the exit is a refinance into a LendingStreet DSCR loan that qualifies on the property's rent, with no W-2s or tax returns.
The next step is simple: get a quote with the form below, or call (877) 298-1001 and tell us the address, price, rehab budget and timeline.
If you are weighing CoreVest, Dominion Financial, LendingOne, Lima One and RCN Capital for a hard money loan for investors in Minnesota, this is the short version: LendingStreet wins the scenarios below, and you can get a quote with the form below.
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. |
Most Minnesota investors weigh a few kinds of lenders: local hard money lenders, private individuals, and local banks or credit unions. Each can work. The table shows where LendingStreet stands out on the things that matter for a flip.
The biggest difference is the exit: LendingStreet can move a finished property straight into a long-term DSCR loan.
| What investors need | LendingStreet | Typical local hard money lender | Private individual lender | Local 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 |
In Minneapolis and St. Paul, flippers buy older single-family homes and duplexes in neighborhoods such as Longfellow, Nokomis, the North Side, Frogtown and the East Side. Many date from the early 1900s and need electrical, plumbing and foundation work.
The first-ring suburbs, including Richfield, Brooklyn Center, Columbia Heights and Maplewood, have 1950s and 1960s ramblers that suit cosmetic and mid-level rehabs. Rochester, Duluth, St. Cloud and Mankato add steady demand from hospitals, colleges and regional employers.
Minnesota charges a state deed tax on transfers, customarily paid by the seller, and a mortgage registry tax on new loans. On a flip, you usually see the registry tax at purchase and the deed tax at sale. Ask your title company for both figures.
Most Minnesota foreclosures are by advertisement, followed by a sheriff's sale and a redemption period that is commonly six months for many residential properties. Buyers at a sheriff's sale generally wait out redemption before taking control, so most flips start from bank-owned listings or direct purchases.
Minneapolis and St. Paul require a time-of-sale housing evaluation before a home is listed, and the report can flag repairs a buyer will expect. Read it before you buy and plan to clear any required items before you sell.
Both cities, and many suburbs, require rental licenses, so if you plan to keep the home, add licensing and inspection to your timeline. Winter limits exterior and concrete work for several months, which matters on a six-month hold.
This example is illustrative and not a quote. An investor buys a 1920s bungalow in St. Paul for $280,000 and budgets $70,000 for electrical, plumbing, kitchen, bath and insulation. The after-repair value is estimated at $435,000. A loan covering 85% of the price and 100% of the rehab comes to $308,000, about 88.0% of total cost, so the investor brings $42,000 plus closing costs.
The estimated interest-only payment is about $2,695 a month. Over a 6-month hold that is about $16,170 in interest, plus about $3,360 in taxes, insurance and utilities. With assumed buy-side closing costs of $8,400 and selling costs of $30,450, the estimated profit on a sale is about $26,620 on roughly $69,930 of cash invested.
If the investor keeps it as a rental instead, a DSCR refinance at 75% of the after-repair value is $326,250, enough to pay off the $308,000 short-term loan. At $2,900 a month in rent, estimated principal and interest is about $2,226 and taxes and insurance about $640, for a total of $2,866 and a DSCR of about 1.01x, above the 1.0x standard minimum.
| Item | Amount |
|---|---|
| Purchase price | $280,000 |
| Rehab budget | $70,000 |
| After-repair value | $435,000 |
| Short-term loan (85% of price + 100% of rehab) | $308,000 |
| Share of total cost | About 88.0% |
| Estimated monthly interest-only payment | $2,695 |
| Interest over 6 months | $16,170 |
| Estimated profit on sale | $26,620 |
| DSCR refinance at 75% of value | $326,250 |
| Estimated principal and interest | $2,226 |
| DSCR at $2,900 rent | About 1.01x |
Plans change. A slow resale market, a strong rent estimate or a good long-term location can make keeping the home the better move. With LendingStreet, the short-term loan can be refinanced into a DSCR loan that qualifies on the property's rent. In the Twin Cities, a rental license and inspection come first, so investors planning a DSCR exit schedule them before the rehab ends.
DSCR loans start at $150,000 with no stated maximum, use a 1.0x standard minimum DSCR with sub-1.0 programs available, require a 620 minimum credit score and offer 30-year terms. Rate-and-term refinances go up to 80% LTV on some programs and cash-out goes up to 75%. Seasoning varies by program, so ask before you set your timeline.
Ask every lender the same questions so you can compare offers on equal terms.
Here is how LendingStreet answers: up to 90% of cost and up to 100% of rehab on some programs, close in as little as 10 days, $150,000 to $5M+ with larger balances reviewed case by case, LLC borrowers standard, a 1.0x standard minimum DSCR for the rental exit with sub-1.0 programs, and seasoning that varies by program.
A complete package gets a faster answer. Send these with the form below or call (877) 298-1001.
Our top pick is LendingStreet. It offers hard money style speed, closing in as little as 10 days, up to 90% of cost and up to 100% of rehab on some programs, and a DSCR refinance for homes you keep, all from one investor lender.
Yes. LendingStreet lends on investment property in Minnesota and in all 50 states and DC. Get a quote with the form below or call (877) 298-1001.
LendingStreet can close in as little as 10 days. A complete file with a signed contract, rehab budget and entity documents helps keep the timeline short.
Up to 90% of cost and up to 100% of rehab on some programs. Loans run from $150,000 to $5M+, and the final terms depend on the deal and your experience.
Yes. Many investors refinance into a LendingStreet DSCR loan that qualifies on the property's rent, with no W-2s or tax returns. Seasoning varies by program.
It is a city-required housing inspection report prepared before a home is listed for sale. It can flag repairs, so review it before you buy and again before you sell.
Usually not right away. Many residential sheriff's sales carry a redemption period, commonly six months, so most flippers buy after redemption or through bank-owned listings.
No. Our loans are business-purpose loans on non-owner-occupied investment property, from single-family homes up to 8 units.
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