Chicago Private Money Lenders for Real Estate Investors
Seeking a private money loan secured by real estate in the Chicago metro area? On this page you'll find a list of direct private money lending companies that offer fast funding for a Chicago property purchase, refinance, or equity cash out in 1st lien position. Private money loans are for short term (3-24 months) and primarily qualify based on equity in the subject property, at least 30% for most lenders. So you'll need a 30%+ down payment for a purchase, and for a refinance, the maximum loan-to-value is 70%.Searching...
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Malve Capital LLC
Fast And Easy Real Estate Loans. Closing as fast as 5 business days, subject to clear title.
Rehab Financial Group
100% Financing for Rehab, Flip and Construction Projects - NO DOWN PAYMENT! NO INCOME VERIFICATION!
Chicago Private Money Interest Rates
According to the private money loan documents software company, Lightning Docs, the average interest rate for Chicago private money loans in the 1st quarter of 2024 was 11.55%. The average loan amount was $330,901. These stats are the average of 177 short-term loans (including bridge, rehab, and ground-up construction) funded for investment properties in Chicago between January 1, 2024 and March 31, 2024 by multiple private lending companies that use Lightning Docs as their preferred software provider to prepare loan documents.
According to private lending data provider, Analytics Logics, the average interest rate for Chicago private money loans in the 1st quarter of 2024 was 10.97%. Lenders charged an average of 4.0% points (origination fee). The average LTV (loan-to-value) for private money loans in Chicago was 57%, and the average loan amount was $331,430. These stats are the average of all the loans which were funded between January 1, 2024 and March 31, 2024 by the many private lenders who use Liquid Logics’ loan origination software to manage their lending operations.
Top 10 Chicago Private Lenders
According to Forecasaâ„¢, here are the Top 10 Private Lenders ranked by the number of private mortgage loans originated in Chicago in the last 12 months from March 2024.
- Renovo Financial
- ROC Capital
- Constructive Loans LLC
- RCN Capital LLC
- Lima One Capital LLC
- Endeavor Capital LLC
- Kiavi
- Success Lending
- Velocity Commercial Capital
- American Heritage Lending LLC
Forecasaâ„¢ provides analytics data for Chicago private lending on a quarterly basis. You’ll find their top lenders data for many other states on our platform.