Illinois Hard Money Lenders

Here is a list of hard money lenders for residential and commercial real estate in IL - Chicago, Springfield, Aurora, Joilet, Rockford, Naperville and other areas. Hard money loans are a great short-term solution for Illinois property investors who either don’t qualify for a traditional mortgage or just need to close a deal fast. Most hard money loans are 12 months, but some lenders offer a longer term.
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KECO Capital, LLC

Funding for Investors By Investors

$250,000 - $100,000,000
6 to 360 months
Center Street Lending

Smarter Loans for Residential Investors

$100,000 - $40,000,000
6 to 24 months
9.00% - 12.50%
0.50% - 2.00%
Backflip

Fix and Flip Direct Lender with all-in-one platform providing comps, capital and community to help you scale

$75,000 - $2,000,000
6 to 12 months
10.00% - 13.00%
1.25% - 2.00%
Park Place Finance

Nationwide Direct Private Lender for Residential Real Estate Investors

$100,000 - $2,500,000
12 to 23 months
9.99% - 12.99%
1.50% - 3.00%
HouseMax Funding

Hard Money Loans to Fund Your Next Big Project

$75,000 - $7,000,000
12 to 360 months
7.00% - 12.99%
1.00% - 4.00%
Malve Capital LLC

Fast And Easy Real Estate Loans. Closing as fast as 5 business days, subject to clear title.

$50,000 - $5,000,000
6 to 24 months
9.00% - 12.00%
1.00% - 2.00%
Gelt Financial, LLC

Creative Private Financing for Commercial Real Estate since 1989

$100,000 - $3,000,000
12 to 60 months
10.00% - 13.00%
3.00% - 5.00%
American Heritage Lending

Direct Lender for Residential Real Estate Investors Nationwide

$100,000 - $5,000,000
12 to 360 months
8.00% - 12.00%
1.00% - 3.00%
Conventus

We Fund Fast While Providing Excellent Service and Competitive Pricing

$150,000 - $100,000,000
6 to 60 months
9.00% - 12.99%
0 - 2.00%
Kiavi

Servicing 12,000+ Real Estate Investors Across the Country

$100,000 - $3,000,000
12 to 360 months
Yieldi LLC

Direct Lender for Investment Properties - Bridge, Rehab, Construction

$500,000 - $25,000,000
6 to 24 months
10.00% - 14.00%
1.00% - 4.00%
Rehab Financial Group

100% Financing for Rehab, Flip and Construction Projects - NO DOWN PAYMENT!

$50,000 - $2,000,000
4 to 12 months
11.88% - 13.00%
2.00% - 4.00%
RCN Capital

Direct Lender for Residential Fix & Flip, Long-Term Rental, Bridge Loans

$75,000 - $10,000,000
12 to 360 months
8.00% - 13.00%
2.00% - 5.00%
LendingOne

Rental, Fix & Flip, Construction & Multifamily Bridge Loans Nationwide

$75,000 - $50,000,000
12 to 360 months
1.00% - 2.00%

Illinois Hard Money Interest Rates

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According to the hard money loan documents software company, Lightning Docs, the average interest rate for Illinois hard money loans in the 2nd quarter of 2024 was 11.40%. The average loan amount was $361,960. These stats are the average of 300 short-term loans (including bridge, rehab, and ground-up construction) funded for properties in Illinois between April 1, 2024 and June 30, 2024 by multiple hard money lenders that use Lightning Docs as their preferred software provider to prepare loan documents.

 

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According to private lending data provider, Analytics Logics, the average interest rate for Illinois hard 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 hard money loans in Illinois 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 hard money lenders who use Liquid Logics’ loan origination software to manage their lending operations.

 

Top 10 Illinois Hard Money Lenders

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According to Forecasa™, here are the Top 10 Hard Money Lenders ranked by the number of loans originated in Illinois from June 2023 to May 2024.

  1. ROC Capital
  2. Renovo Financial
  3. Constructive Loans LLC
  4. RCN Capital LLC
  5. Kiavi
  6. Endeavor Capital LLC
  7. Lima One Capital LLC
  8. Oaktree Funding Corporation
  9. Velocity Commercial Capital
  10. American Heritage Lending LLC

Forecasa™ gives investors and lenders in the private real estate market powerful analytics and actionable insights. They help you skip the hassle of combing county records and focus on closing deals. With detailed market trends, investor and lender activities, and competitive benchmarking, you can make smart, strategic decisions. Some of their services include dynamic market reports, transaction-level details, customer analytics, borrower verification, and in-depth profiles of investors, lenders, and capital partners. You’ll find their top lenders data for many other states on our platform.

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