Illinois Private Money Lenders for Real Estate Investors
Here is a list of private money lenders for real estate in IL - Chicago, Springfield, Aurora, Joilet, Rockford, Naperville and other areas. Use a private mortgage to get fast funding for an Illinois investment property purchase, refinance or equity cash out. Our directory lists private money companies (not individual investors) offering short-term loans that typically range from 6 to 36 months.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.
Illinois Private Money Interest Rates
According to the private money loan documents software company, Lightning Docs, the average interest rate for Illinois private money loans in the 4th quarter of 2023 was 11.61%. The average loan amount was $277,532. These stats are the average of 220 short-term loans (including bridge, rehab, and ground-up construction) funded for investment properties in Illinois between October 1, 2023 and December 31, 2023 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 Illinois private money loans in the 4th quarter of 2023 was 11.49%. Lenders charged an average of 2.8% points (origination fee). The average LTV (loan-to-value) for private money loans in Illinois was 58%, and the average loan amount was $179,765. These stats are the average of all the loans which were funded between October 1, 2023 and December 31, 2023 by the many private lenders who use Liquid Logics’ loan origination software to manage their lending operations.