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.
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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%
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%
LendingOne

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

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

DSCR Long-Term Rental Loans for Residential Investment Properties

$100,000 - $5,000,000
360 to 360 months
1.00% - 3.00%
KECO Capital, LLC

Funding for Investors By Investors

$250,000 - $100,000,000
6 to 360 months
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%
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%
Kiavi

Servicing 12,000+ Real Estate Investors Across the Country

$100,000 - $3,000,000
12 to 360 months
Pimlico Capital

Direct Lender for Real Estate Investors | Established in 2016

$75,000 - $5,000,000
3 to 360 months
10.50% - 12.00%
2.00% - 3.00%

Illinois DSCR Loan Interest Rates

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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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