Hard Money Lenders Milwaukee

To qualify for a hard money loan in Long Island with Ridge Street you need:

• A Credit Score of 660+

• A profitable deal with at least a 10% ROI

• An LLC or a Corporation Registered In WI

Ridge Street finances the following property types:

• Residential 1-4 Units

• Multifamily 2-4 Units

Depending on the sponsors experience and credit profile, rates range from 10.5%-11.5%. Ridge Street’s median rate for a hard money loan on a fix and flip in Milwaukee is 10.75% interest only with no pre-payment penalty.

Ridge Street closes hard money loans in as little as 7 business days.

Usury Cap Exemptions: Under Wisconsin Statute § 138.05(1), the state enforces a standard maximum interest rate cap of 12% on loans. However, Section 138.05(5) explicitly states that this restriction does not apply to loans made to corporations or limited liability companies (LLCs), allowing hard money lenders to freely negotiate rates on commercial investments.

Licensing Mandates: If a hard money loan is extended to an individual rather than an LLC, or if it involves a 1-to-4 family residential property that is owner-occupied, the lender must be registered and licensed as a mortgage banker or licensed lender with the Wisconsin Department of Financial Institutions (DFI).

Corporate Borrowing Preference: Because individual or consumer-purpose real estate loans trigger strict licensing requirements and consumer protection rules under the Wisconsin Consumer Act, the vast majority of hard money lenders in Milwaukee will only fund transactions where the borrower closes under an LLC and the property is strictly for business/investment use.

Yes. Milwaukee's affordability, active South Side and Bay View renovation corridors, and consistent buyer demand from Chicago-area relocators make it one of the stronger fix-and-flip markets in the Midwest. Investors looking to understand their financing options for flipping houses in Milwaukee will find that hard money loans cover both the acquisition and full renovation budget, making them the most common tool in this market.

There are a number of ratios that Ridge Street uses to determine the Loan Amount. Put simply, for a first time investor we finance up to 80% of the Purchase + 100% of the Rehab. For an experienced investor, we finance up to 90% of the Purchase + 100% of the Rehab.

You can use a hard money loan to purchase and renovate a rental property. You can then refinance with a DSCR Loan (This is called the BRRRR Strategy). If the property is rent ready at purchase, there is no need for a hard money loan and you can go straight into DSCR financing.