Illinois Hard Money Lender

Need an Illinois hard money loan because you’re interested in properties there? Do Hard Money is here to help you get a hard money loan quickly and easily for your next REI deal or refinance property in the Prairie State.

Do Hard Money will approve your asset-based loan completely by assessing the property not you as the borrower. A true hard money lender will base your loan approval on the investment property and the overall quality of the deal. Once we’ve evaluated the property, the LTV (loan to value) ratio of the deal will determine your loan amount. This loan amount, combined with our gap funding resources, can make it possible for you to get 100% Financing on your deal.

Loan Inquiry

We completed our 1st deal with Our representative was instrumental in getting our deal completed. We now have a rehabbed property on the market in Evergreen Park, IL. Once you understand the process and have a good representative to basically hold your hand, it will be smooth sailing. We will definitely use again.

Aisha S, Chicago, IL

Illinois Hard Money Loan Terms

Due to excellent market conditions, we are able to offer state-specific loan terms for the state of Illinois.

100% Financing

If your deal is good enough we will cover 100% of the purchase price, rehab, and closing costs, points & interest.

LTV Basis

Our max loan amount is based on the after repair value, not the current value or purchase price. If the numbers line up, we will fund it.

Maximum LTV

We lend up to 70% of the ARV. We will fund everything but earnest money as long as it fits within 70% of the ARV.

Max Loan Amount

Our max loan amount is $250,000. For the markets we currently lend in, we’ve found this to be the sweet spot for real estate investing.

Minimum ARV

Our minimum ARV to lend on a property is $75,000. If it’s less than that there is just not enough profit to make it worth the effort for either party.

Multiple Deals

Yes. We allow you to do 3 deals at a time, enabling you to stay busy and rake in even more profit at a faster pace.

Interest Rate

Our interest rates of 1.25 – 1.50% per month fall pretty middle of the road. We are not the cheapest, nor the most expensive, but our 100% financing options allow you to leverage our money.

Origination Points

We take on significant risk in offering 100% financing and our points of 5.5% – 6.5% is what keeps us in business.

Max Loan Term

The default loan term is set at 5 months, but we do allow up to three 1-month forbearance payments equal to 1.0% of the loan if you need more time.

Monthly Payments

With no monthly payments during the initial loan term you can focus 100% of your time on rehabbing and selling the property.

Minimum Credit

None. A bad credit score will affect your points and interest, but because we lend on the property’s after repair value it won’t keep you from getting a loan

Min Cash-to-Close

We do not require a down payment on the property. If everything fits in 70% of the ARV you can come to the closing table with $0.00.

Pre-Pay Penalty

With no pre-payment penalty, fixing and flipping the property in a shorter amount of time can only deepen your pockets.

Required Experience

Many other lenders either won’t lend to you or will jack up their prices unless you have prior experience, but we’re all making profitable real estate investing accessible to anyone.

Gap Financing

We allow gap financing in the form of business lines of credit to help with cash-to-close when everything doesn’t fit in 70% of the ARV and we can help you get up to $100,000 in as little as 30 days.

Foreclosure Protection

Nobody else looks out for you like we do. We offer proprietary protection that nearly precludes the possibility of a foreclosure on your records even in the worst-case scenario.

Refinancing Available

Yes. With traditional lenders limited to strict loan parameters, we focus on equity over borrower financials. This gives you the liquidity needed for your individual situation.

Full Disclosure

Unlike a lot of other lenders who hide the full cost of the loan until it’s too late… we want you to know what you’re getting into and disclose ALL costs upfront.

Recently Funded Deals

Illinois Real Estate Market Statistics (2015)

With beautiful rivers and exciting cities, Illinois has something for everyone, making the state a popular place to call home. Chicago, the third largest city in the U.S., is booming with opportunity while many other counties in Illinois have a charming, small-town feel popular with families. The property value in Illinois has risen 3.8% in the past year along with the number of housing flips increasing by 21%. Now is the perfect time to invest in Illinois properties, as median home prices and sales activity have both increased in the past year, which is great news for those rehabbing and flipping in the area. According to, “the Chicago market currently favors sellers over buyers.” There is a great buying demand, so your real estate investment won’t sit on the market – you’ll be able to get your REI deal sold in record time.

Housing Units
Number of Flips
% Change in Flips

Purchase Price

National Average: $294,600
Illinois Metro Areas: $206,750

Gross Margin

National Average: $55,000
Illinois Metro Areas: $76,500

Number of Houses Flipped

National Average: 179,778
Illinois Metro Areas: 6,351

% Change in Houses Flipped

National Average: 0.2%
Illinois Metro Areas: 21%

About Hard Money Loans in Illinois

Among other things, Illinois is famous for producing big business, big names, and big crops. Hard money loans are famous for their big advantages to real estate investors.

Our Illinois hard money loans help investors who need to get into deals with little or no money down. This is especially helpful to first-time investors, new investors and investors getting back into the REI game after some downtime.

First of all, hard money loan approval works differently than approval for traditional loans because hard money loans are based on the profit potential of an investment property and the overall deal. Traditional loans, on the other hand, use intense borrower scrutiny — such as credit checks and personal information — for their approval.

With DoHardMoney, we wont even check your credit score to approve your loan. After a detailed analysis of all your loan application information, well determine your lending amount, or loan to value ratio (LTV), on the after repair value (ARV) of the investment property.

To add additional, unmatched convenience to our lending service that other hard money lenders just cant beat, you make no payments on your loans until your fix and flip is complete. We find that this helps investors get the peace of mind in the middle of the rehab that they need to be successful.

Youll find at DoHardMoney that were here to do more than fund your rehab loans and refinance loans, were here to help REIs be successful every way we can.

Real Estate Investing in Illinois

Illinois real estate investors brave more than just insane snowstorms to get the job done, they also brave a highly-competitive real estate market to come out ahead on deals.

The state of Illinois continues to shine through with one of the best real estate markets in the country.