Private / Hard Money Lender Programs in Chicago

Purchase/Rehab Lender # 1

TRTY       Chicago Area Only

AMNT      $50k - $5M

LTV          65% ARV up to 100% LTC

INT           14%

PTS          4

TRM         6 - 8 months

PPP          No

Properties:   1 - 4 units and larger apartment buildings

Lender has Borrower escrow all loan payments at closing

Lender has Borrower escrow 6 months PITI of future end loan

1.              Term can be up to 10 months, need Lender to know

2.              At closing, Borrower gives term of loan in payments to be put in escrow

                  (example:  7 month loan, 7 months into escrow

3.              Lender looks at all loans as exit strategy refinances

                  Lender qualifies Borrower for end loan as part of underwriting

                  Lender has Borrower bring to table 6 months PITI of end loan payments

Purchase/Rehab Lender # 2

TRTY       Chicago Only

AMNT      $20k - $5M

LTV          70% ARV (Up to 100% LTC)

INT           24 - 36%

PTS          1

TRM         6 - 12 months

PPP          4 month guarantee

Property: 1 - 4 units, Commercial, Apartment Complex, Condos

Purchase/Rehab Lender # 3

Territory   Chicago

Amount    $50k - $400k

LTV          80% of purchase and rehab (but max is 65% of LTV)

INT           18 - 24%

PTS          5  (min of $2,500)

TRM         12 months

PPP          4 months guaranteed

CRDT      600

Will do JV

Refinance Only Lender

TRTY       Chicago Area Only

AMNT      $25k - $1M

LTV          60 - 70%

INT           12 - 20%  (15%)

PTS          5

TRM         12 - 24 months

PPP          3 month guarantee

Private Lender