How to Get a Hard Money Loan in Maine

Written By Mike Hacku

Everything You Need to Know to Secure Fast Commercial Real Estate Financing

Hard money loans have become an essential financing tool for real estate investors, developers, and business owners who need fast, flexible capital — especially in a competitive market like Maine.

Whether you’re acquiring a property, funding a renovation, or refinancing out of a traditional loan, hard money lenders can offer speed and simplicity that banks can’t match.

If you’re wondering how to get a hard money loan in Maine, this guide will walk you through the process step by step.

What Is a Hard Money Loan?

A hard money loan is a short-term, asset-based loan secured by real estate. Unlike traditional bank loans, hard money loans focus more on the value of the property and the borrower’s exit strategy — not just credit scores or income history.

Hard money is commonly used for:

  • Property acquisitions (including off-market deals)

  • Renovations and fix-and-flip projects

  • Construction and development

  • Refinancing or cash-out loans

Why Use a Hard Money Loan in Maine?

Maine’s commercial real estate market is evolving quickly, especially in high-demand areas like Portland, Biddeford-Saco, Scarborough, Auburn-Lewiston, and Bangor. Deals move fast — and so should your financing.

A hard money loan offers:

  • Quick closings (often in 5–10 days)

  • Flexibility on loan structure and use of funds

  • Approval based on asset value, not bureaucracy

  • Local market knowledge when you work with a Maine-based lender

How to Get a Hard Money Loan in Maine

Here’s a step-by-step breakdown of what to expect when working with a private lender like Atlantic National Trust:

1. Identify the Deal You Need to Finance

You’ll need basic details about:

  • The property (location, type, condition)

  • Your intended use (acquisition, rehab, refinance, etc.)

  • The estimated value and/or purchase price

  • Your desired loan amount

2. Submit a Prequalification Request

You don’t need a 20-page bank package. At Atlantic, we can start with a simple form or phone call. We’ll look at:

  • The value of the real estate

  • Your experience as a borrower

  • Your exit strategy (sale, refi, or long-term hold)

3. Loan Terms Are Offered Quickly

We’ll respond within 24–48 hours with indicative terms — including:

  • Loan amount

  • Interest rate (typically Prime + 6%)

  • Term (12–24 months)

  • Fees and closing timeline

4. Underwriting & Due Diligence

Once you agree to move forward, we conduct a fast review of:

  • Title and insurance

  • Property condition

  • Market comps or appraisal if needed

  • Entity docs (if applicable)

We have been able to close in as little as 5 business days if necessary.

5. Closing and Funding

Upon signing final docs and recording the loan, funds are wired — often same day.

What Are the Typical Loan Terms?

At Atlantic National Trust, our Maine bridge loan program includes:

  • Loan Amounts: $50,000 to $5,000,000

  • Loan-to-Value (LTV): Up to 70%

  • Rates: Typically 12–15% (Prime + 6%)

  • Term: 12–24 months

  • Fees: 2 points (points may vary)

  • Asset Types: All commercial (multifamily, retail, office, land, mixed-use)

Where in Maine Do We Lend?

We provide hard money loans across the state, including:

  • Portland & Southern Maine

  • Bangor & Central Maine

  • Augusta & the Kennebec Valley

  • Coastal towns & islands (Chebeague, Saco, Harpswell, Long Island)

Is a Hard Money Loan Right for You?

Hard money is ideal if you:

  • Need to close quickly

  • Have limited time for bank underwriting

  • Are acquiring a unique property or off-market deal

  • Are self-employed or have unconventional income

  • Want a short-term capital solution while you stabilize or reposition a property

Get Started with a Trusted Maine-Based Lender

At Atlantic National Trust, we’ve been a commercial real estate leader in Maine since 1995. We combine speed, creativity, and deep local expertise to help investors and owners close their deals fast — without red tape.

Ready to get a quote?
Call us at 207-944-6450 or
Prequalify online now

Final Tips for Success

  • Be ready with a clear exit plan

  • Know your numbers (LTV, rehab costs, ARV, etc.)

  • Choose a lender with local knowledge and decision-making power

  • Move fast — in this market, timing is everything

Atlantic National Trust – Maine’s Trusted Private Lending Partner

Mike Hacku