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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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%
LendingOne

Rental, Fix & Flip, New Construction, Fix to Rent, SFR Portfolio Loans Nationwide

$70,000 - $50,000,000
9 to 360 months
0.75% - 1.99%
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%
Yieldi LLC

Direct, Reliable Lender for Investment Properties

$500,000 - $25,000,000
6 to 24 months
10.00% - 14.00%
1.00% - 4.00%
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%
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%
Residential Capital Partners

100% Financing for Residential Rehab Projects (NO Money Down)

$75,000 - $1,250,000
1 to 9 months
10.40% - 13.90%
2.00% - 3.00%
Kiavi

Servicing 18,000+ Real Estate Investors Across the Country

$100,000 - $3,000,000
12 to 360 months
6.88% - 12.45%
KECO Capital, LLC

Funding for Investors By Investors

6 to 360 months
Rehab Financial Group

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

$100,000 - $1,250,000
9 to 12 months
11.25% - 12.75%
2.00% - 3.00%
Gelt Financial, LLC

Creative Private Financing for Commercial Real Estate since 1989

$50,000 - $3,000,000
12 to 60 months
11.00% - 14.00%
1.00% - 3.00%
Center Street Lending

Smarter Loans for Residential Investors

$150,000 - $40,000,000
6 to 24 months
9.00% - 12.50%
0.50% - 2.00%

Illinois Hard Money Interest Rates

lightning docs logo

According to the hard money loan documents software company, Lightning Docs, the average interest rate for Illinois hard money loans in the 4th quarter of 2024 was 10.95%. The average loan amount was $372,036. These stats are the average of 282 short-term loans (including bridge, rehab, and ground-up construction) funded for properties in Illinois between October 1, 2024 and December 31, 2024 by multiple hard money lenders that use Lightning Docs as their preferred software provider to prepare loan documents.

Here is a breakdown of average interest rates in Illinois metropolitan area:

Chicago
The average interest rate for Atlanta hard money loans in the 4th quarter of 2024 was 10.53%. The average loan amount was $305,656. Of the 235 total loans in the 3-month period, 187 were secured by properties in Cook County, 34 in Kane County and 14 in Lake County.

 

analytics logics logo

According to private lending data provider, Analytics Logics, the average interest rate for Illinois hard money loans in the 4th quarter of 2024 was 10.56%. Lenders charged an average of 2.2% points (origination fee). The average LTV (loan-to-value) for hard money loans in Illinois was 64%, and the average loan amount was $195,720. These stats are the average of all the loans which were funded between October 1, 2024 and December 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 October 2024 to December 2024.

  1. ROC Capital funded 239 loans
  2. Renovo Financial funded 151 loans
  3. Kiavi funded 114 loans
  4. Constructive Loans LLC funded 96 loans
  5. Endeavor Capital LLC funded 59 loans
  6. Oaktree Funding Corporation funded 54 loans
  7. RCN Capital LLC funded 51 loans
  8. Owner Finance Company funded 46 loans
  9. Velocity Commercial Capital funded 46 loans
  10. Greenberg Finance LLC funded 35 loans

* The number of loans funded are approximate and includes long-term rental loans.

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.

Illinois Hard Money Loan Volume

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According to SFR Analytics, here is the approximate quarterly volume of loans secured by investment real estate in Illinois which were funded by hard money lenders from October 2023 to September 2024.

  • Approximately $153,685,188 of hard money loans were funded in the 3rd quarter of 2024 for 442 borrowers.
  • Approximately $132,812,700 of hard money loans were funded in the 2nd quarter of 2024 for 428 borrowers.
  • Approximately $107,396,454 of hard money loans were funded in the 1st quarter of 2024 for 405 borrowers.
  • Approximately $119,094,326 of hard money loans were funded in the 4th quarter of 2023 for 460 borrowers.

Below are the approximate hard money loan volume amounts for Illinois metropolitan area:

Chicago-Naperville-Elgin, IL

  • 2024 Q3: $152,160,486 for 412 borrowers
  • 2024 Q2: $128,746,043 for 423 borrowers
  • 2024 Q1: $106,484,921 for 380 borrowers
  • 2023 Q4: $119,318,596 for 428 borrowers

 

SFR Analytics provides advanced analytics for top-performing real estate investors and private lenders. Their platform provides nationwide, real-time property data, including market activity, ownership changes, and detailed buyer behavior insights. With custom dashboards and alerts, users can track active investor and lender activity, access rental market information, and analyze geographic and demographic trends. Their Private Lender Radar product gives lenders deep insights into borrower portfolios, lending activity, and verified contact details. For those needing bulk data, they supply updated daily records, including deeds, rental listings, demographic data, and building permits, to support informed decision-making across the residential real estate market.

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