Hard Money Loans
Hard Money & Rehab Loans in Chicago, Illinois
Our primary focus is to provide private hard money short-term funding to Real Estate Investors in Chicago area and midwest states for purchase and rehabilitation of residential real estate, and to help them complete projects if they run short on funds.
The primary collateral for funding is the value of the property. We use the purchase price to determine the funding limits. Our renovation loans can provide up to 75% of the purchase and rehab funds for a project for qualified properties and investors. We have helped many people with fix and flip loans on single family homes and multi unit buildings. In the past few years we have financed the following property types: Hospitals, Bowling Alley, Vacant Land, Bar,
Hard Money Loans
Do you own a property free and clear or with small mortgage balance?
We can fund investment property loans that need rehab or cash out for business purposes. We are very flexible on income verification and credit scores. If you have a low mortgage balance on your property and are behind on property taxes and payments and are planning to sell we can help.
Properties in foreclosure may be funded, however our hard money loans do not provide funding for the purchase of properties at an auction. We will fund a property that has been purchased at an auction and has a clear title.
Residential Rental Mortgages:
We have sources offering long term rental loans if you want to hold and build your property portfolio with a purchase or refinance at lower 30 year interest rates.
Properties we will consider:
2, 3, and 4 unit buildings
5 to 100 unit apartment buildings
Commercial Properties (all types)
Properties we will NOT consider:
Mobile home parks
Motel and Hotels flagged and non flagged-in conjunction with a capital partner
Gas Stations branded and non branded–in conjunction with a capital partner
Up to 80%
Loan amounts: In-house up to $3 million and as low as $100K.
Lien position: 1st only
Typical terms: 9% to 14.9%
1-4 year terms