Harpoon Capital for Iowa investors
Harpoon Capital is a broker-only private money lender with no stated minimum DSCR — it will consider deals below 0.75 DSCR. Minimum credit score is 620, with loan sizes from $50,000 to $3,500,000 and maximum 85% LTV. The company does not publish rate or state-coverage figures in the sources reviewed.
Iowa context
Iowa stable Midwest DSCR market.
How Harpoon Capital positions in Iowa
For Iowa specifically, Harpoon Capital fits investors who match the private money approach. The medium cash flow profile of Iowa aggregate makes it workable for Harpoon Capital.
City-level coverage in Iowa
Harpoon Capital provides DSCR coverage across Iowa metros including Des Moines, Cedar Rapids, and Davenport. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Harpoon Capital program terms apply uniformly across Iowa metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | Private money |
|---|---|
| Products | rental DSCR |
| Loan size | $50K - $3.5M |
| Rates | Not publicly published |
| Points | Not publicly published |
| Max LTV | 85% of ARV |
| Term lengths | Not publicly published |
| Typical close time | Not publicly published |
| Iowa property tax | 1.5% |
| Iowa state income tax | 3.8% |
Harpoon Capital strengths in Iowa
- No minimum DSCR requirement — approves deals below 0.75
- Loan sizes from $50,000 to $3,500,000
- 620 minimum credit score
- Broker-only origination
Ideal borrower: Investor with a cash-flow-negative property (DSCR below 0.75) seeking a broker-originated private money lender with no DSCR floor.
FAQ
Likely; verify direct Iowa coverage. Harpoon Capital is based in an undisclosed location and operates in states not publicly disclosed.
Des Moines is the top investor market in Iowa and is generally within Harpoon Capital states not publicly disclosed footprint. Des Moines property tax follows the Iowa state rate of 1.5 percent. Harpoon Capital typically underwrites Des Moines acquisitions at standard rate sheets.
Yes. Cedar Rapids ranks among the larger Iowa investor metros and sees consistent DSCR loan volume from Harpoon Capital. Submarket variation within Cedar Rapids matters for property selection.
Harpoon Capital applies the same rate sheet across Iowa metros. Pricing variation comes from property-specific factors rather than metro location within the same state. Des Moines, Cedar Rapids, and Davenport all qualify for the same Harpoon Capital program.
Harpoon Capital does not publish a rate sheet. Pricing is quoted per deal and depends on credit, leverage, coverage ratio and experience.
Iowa stable Midwest DSCR market. Harpoon Capital follows standard business-purpose loan structures.
Harpoon Capital funds rental DSCR in Iowa.
Iowa allows standard DSCR prepay structures; Harpoon Capital typically uses 3-5 year step down.
Harpoon Capital typical close: Not publicly published.
Bottom line
Iowa investors considering Harpoon Capital should verify current rate sheets directly and confirm specific submarket coverage.
Independent directory listing. DSCR Loan Program is not affiliated with Harpoon Capital.