Illinois DSCR Loan Lenders for Long-Term and Short-Term Rentals
List of private mortgage lenders offering long term financing for Illinois rental homes, also known as LTR or DSCR loans. While most private lenders offer only short-term lending, less than 2 years, the lenders listed here offer terms up to 30 years for SFR's and 2-4 unit residential properties.Displaying 0 Results
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$75,000 - $20,000,000
13 to 360 months
7.20% - 12.10%
0.25% - 2.50%
$100,000 - $5,000,000
12 to 360 months
8.00% - 12.00%
1.00% - 3.00%
$50,000 - $2,000,000
4 to 12 months
11.88% - 13.00%
2.00% - 4.00%
$75,000 - $50,000,000
12 to 360 months
1.00% - 2.00%
$100,000 - $5,000,000
360 to 360 months
1.00% - 3.00%
$75,000 - $7,000,000
12 to 360 months
7.00% - 12.99%
1.00% - 4.00%
$150,000 - $100,000,000
6 to 60 months
9.00% - 12.99%
0 - 2.00%
$75,000 - $10,000,000
12 to 360 months
8.00% - 13.00%
2.00% - 5.00%
$100,000 - $3,000,000
12 to 360 months
Illinois DSCR Loan Interest Rates
According to the loan documents software company, Lightning Docs, the average interest rate for Illinois DSCR long-term rental loans in the 1st quarter of 2024 was 8.29%. The average loan amount was $279,350. These stats are the average of 169 loans funded for residential rental properties in Illinois between January 1, 2024 and March 31, 2024 by multiple lenders that use Lightning Docs as their preferred software provider to prepare loan documents.
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