If you need a hard money lender in Chicago and surrounding areas Chicago Rehab Loans is your premier financing lender.
Of all the hard money lenders in Chicago Rehab Loans offers the fastest and most flexible financing. There are times when bank loans and slow processing time just won’t do. Riverdale can offer you privately issued, asset-based loans underwritten on the value of hard assets.
This means using real estate rather than credit history to qualify for loans. These asset-based loans in Chicago allow borrowers to finance upcoming commercial projects, development, investments, non-bankable transactions, or emergency cash-outs.
Qualifying for Commercial Hard Money Loans in Chicago
A hard money loan only takes its cues from the value of hard assets like real estate. As folks in New York City are well aware, real estate is the most commanding asset in a rapidly shrinking and high-inflation market – consequently, hard money loans represent ideal opportunities for investors hoping for non-traditional financing options.
While most hard money lenders in Chicago demand burdensome financial information and reserve requirements to make any loans, Chicago Rehab Loans has a simple one-step application process. There are minimal credit score requirements, and documentation required to qualify. Commercial hard money for commercial properties include:
- Five family units and higher
- Retail properties
- Industrial properties
- Non-owner occupied 1-4 family properties in a Corporate or LLC name
Hard Money Loan Terms for Chicago
There are endless real estate opportunities in the Chicago area, which makes acquiring capital vital for investors. Hard money lenders in Chicago like Chicago Rehab Loans prides itself as an expert in the loan process as a top quality customer service provider for those looking to acquire commercial property financing. Hard money loan terms can vary across lenders; commercial hard money loans in Chicago offered by Chicago Rehab Loans are as follows:
- Loan to value up to 65%
- Loan terms of 1-3 years
- Interest rates start at 11%
- Competitive originating fees
- SISA and SIVA on investment properties
- Loans up to 65% LTV
- Loans from $150,000 to $5 Million
We also buy apartment buildings!