Chicago fix-and-flip loans
We fund the purchase and the renovation so you can close on a Chicago flip while the bank is still requesting another tax return. Deerfield-based. We have funded $50M+ since 2020.
Who this is for
- You have a contract on a property that needs work, and a conventional lender will not touch it until it is renovated.
- You are bidding against cash and need a close in days, not a 45-day mortgage contingency.
- You want rehab money released on draws as work is inspected, instead of floating the job on a credit line.
How it works
Step 1
Send the deal
Apply online or email the contract, rehab budget, and exit. We review the property first. Credit is part of the file, not the whole file. We have funded borrowers with scores in the 600s when the numbers and the experience hold up.
Step 2
We size purchase and rehab
Typical structure is 65–75% of purchase or current value, plus up to 100% of renovation through a draw schedule. Terms are usually 6–12 months on a flip. Interest-only so you are not paying principal while the house is torn open.
Step 3
Close, then draw
Approvals are often 24–48 hours. Closings are typically 3–7 days once title and inspections are clean. Rehab funds come out as work is completed and inspected, which is the same draw process we already run in servicing.
Typical terms
These are examples we already publish on the site. Your rate, points, and LTV depend on the property, your experience, and the exit.
Rates
Typically 9–14% (from 9.5% on stronger files)
Origination
Typically 2–4 points
Purchase LTV
65–75% of purchase or current value
Renovation
Up to 100% via draws
Term
Usually 6–12 months
Close
3–7 days after a complete file
Investment-property lending only. Not all applicants qualify. Closings depend on title, inspections, and complete documents.