Offering Fix and Flip, Bridge, and DSCR loans. With same day approvals, 3-5 day close time, and lending in 47 states, Park Place Finance will get your next deal funded fast!
Fix and Flip Loans in Hanover Park, Illinois
Hanover Park, IL has 50 fix-and-flip lenders offering loans in the city. The average note made is about $304,584. Rates on private loans issued to Hanover Park investors average about 10.7%. The median loan issued in the city is for 11 months. The average note includes a 4.4 percent origination cost. Lenders offer on average a 73% LTV on loans in Hanover Park.
Loan Example 1
Jennifer takes a fix and flip loan from Big Lake Lending Corporation in order to renovate a house to resale in Hanover Park, IL. The list price of the house is $340,000. The borrower will need to bring 20% of the sales price in cash to closing based on a 80% loan to value set by the lending company. This makes the principle note from Big Lake Lending Corporation $272,000. The loan also consists of these features: 1) a 6 month length, 2) a 12% interest-only note, and 3) a four percent origination charge.
On top of the $10,880 origination fee, Jennifer will also have to fund $68,000 of the purchase with her own cash, or 20% of the sales price. Big Lake Lending Corporation will collect $2,720 in monthly interest from the Jennifer. This is calculated by taking the full loan value of $272,000, multiplying that by the 12% interest rate, and then dividing that amount by 12. At the expiration of the note, she sells the rehabed house for $510,000. After subtracting the $16,320 in interest payments ($2,720 multiplied by 6 months), the $10,880 origination fee, the $272,000 principle on the note, and the $68,000 she brought to closing, she will make a gross profit of $142,800 ($510,000 price minus $367,200 in total costs). This amount would be reduced by any building costs paid out of pocket.
Loan Example 2
West Shore Lending makes a fix and flip loan to Susana for a renovation project in Hanover Park, IL. The deal dictates the following:
a) A $320,000 sales price, b) a 60% loan to value (LTV), c) a 18 month term, d) a 11% interest rate, and e) a 2% origination fee.
Based on a $464,000 sales price after the 18 month term, the numbers for the deal would look like this:
$464,000 sales price
- $192,000 principle on note (60% LTV)
- $128,000 cash paid at closing (40% on 60% LTV)
- $3,840 origination fee (2% of the $192,000 principle amount)
- $31,680 interest payments (18 months x 11% interest)
-----------------------
= $108,480 gross profit (does not include taxes or renovation costs)
Offering a better alternative to hard money, Navigator Private Capital, LLC (NavCap) has reimagined private real estate lending--making it accessible to real estate investors at all experience levels.
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Temple View Capital
7550 Wisconsin Ave. 10th Floor
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Chicago Rehab Loans
150 N Michigan Ave #2800
Chicago, IL 60601
Based in Chicago, IL, Chicago Rehab Loans is an asset-based lender offering funding throughout Chicago, Milwaukee, Madison, Gary, and South Bend. They offer commercial loans, construction loans, loans for rental properties, hard money bridge loans, fix-and-flip loans, ...
FBC Funding
183 W 162nd St
South Holland, IL 60473
Based in South Holland, IL, FBC Funding is an asset-based lender offering loans throughout Chicago. They offer bridge loans, private refinancing, hard money construction loans, fix-and-flip hard money loans, commercial hard money loans, and rental property loans. ...
PFC Commercial Group
6351 W. Montrose, Suite 102
Chicago, IL 60634
PFC Commercial Group is a Chicago, IL based private money lender. They provide loans throughout Chicago. They provide buy and hold loans, bridge loans, private refinancing, fix-and-flip loans, and commercial hard money loans. Their loan guidelines ...
Sherpa Capital Group
1070 N. Milwaukee Avenue
Chicago, IL 60642
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Private Money Utah
349 E. 900 S. Suite 201
Salt Lake City, UT 84111
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Peak Choice Capital
601 Silver Creek Drive
Shorewood , IL 60432
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NuWay Mortgage
6945 W ARCHER AVE
Chicago, IL 60638
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Stratton Equities
28 Bloomfield Avenue
Pine Brook, NJ 07058
Stratton Equities is the Leading Nationwide Direct Private Money & NON-QM Mortgage Lender that specializes in fast and flexible lending processes. We have the largest library of private money and NON-QM nationwide loan programs under one roof. Our team is ...
Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
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Direct Lending Partner
701 W Broad Street, Suite 200
Bethlehem, PA 18018
Direct Lending Partners originates short-term real estate loans for the purpose of acquiring and renovating distressed residential real estate in the states of AL, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, MD, MO, NC, NE, ...
Kiavi
575 Market Street
San Francisco, CA 94105
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JCAP Private Lending
3151 Airway Ave, Suite Q3
Newport Beach, CA 92626
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Next-Financing
6991 E Camelback Rd
Scottsdale, AZ 85251
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ACC Mortgage
932 Hungerford Drive, Unit 6
Rockville, MD 20850
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
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Lima One Capital
201 East McBee Ave, Suite 300
Greenville, SC 29601
Since its inception in 2011, Lima One Capital has funded over $9 billion in loans for real estate investors who are building, improving, and stabilizing neighborhoods across the nation. Lima One’s core loan products are New Construction loans for ground-up ...
RCN Capital
75 Gerber Road East
South Windsor, CT 06074
Headquartered in South Windsor, CT, RCN Capital is national, direct, private lender providing funding in 44 states across the country.Established in 2010, we provide short-term and long-term commercial loans ranging from $50k to $2.5M+ for the purchase of non-owner occupied ...
Do Hard Money
8846 S Redwood Road #C212
West Jordan, UT 84088
Do Hard Money is a hard money lender based in West Jordan, UT providing funding in 13 states throughout the United States. Their lending focus is primarily on fix-and-flip hard money loans. Their lending guidelines are flexible, including ...
Dominion Financial
32 S Street
Baltimore, MD 21202
Dominion Financial Services is a private lender serving professional single-family real estate investors. We offer fix & flip loans, 30-yr fixed-rate rental loans, new construction financing, and multifamily bridge loans. We currently lend in all 50 states and Washington D.C ...
New Silver
2475 Albany Ave #203B
West Hartford, CT 06117
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Global Integrity Finance
321 N Central Expressway, Suite 360
McKinney, TX 75071
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COGO Capital
1121 E. Mullan Ave
Coeur d'Alene, IA 83814
Based in Coeur d'Alene, IA, COGO Capital is an asset-based lender providing loans in 45 states throughout the US. They provide private commercial loans, fix-and-flip loans, and loans for investments properties. Their loan guidelines are flexible, including ...
Patch Lending
15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
Patch Lending (formally Patch of Land) is a national private lender offering real estate investors fast and reliable financing for investment properties. Patch offer short-term single-family and multi-family bridge, fix & flip, ground-up construction, and long-term rental property financing. They ...
Angel Oak Prime Bridge
980 Hammond Drive, Suite 850
Atlanta, GA 30328
Based in Atlanta, GA, Angel Oak Prime Bridge is an asset-based lender offering loans throughout Georgia. They provide loans for many different scenarios, including fix-and-flip hard money loans, short term bridge loans, construction loans, and investment property loans. ...
LYNK Capital
7100 Six Forks Road, Suite 335
Raleigh, NC 27615
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Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
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Straightline Funding
250 N. Trade Street, Suite 209
Matthews, NC 28105
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Gelt Financial
6401 Congress Ave, Suite 215
Boca Raton, FL 33487
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LendingOne
901 Yamato Rd, Suite 150
Boca Raton, FL 33431
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Genesis Capital
21650 Oxnard Street, Suite 1700
Woodland Hills, CA 91367
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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Aero Capital Finance
439 W Vine St
Kissimmee, FL 34741
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National Advance Group
1 Linden Place
Great Neck, NY 11021
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Sharestates
45 North Station Plaza
Great Neck, NY 11021
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Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
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Barnett REI Finance
450 Skokie Blvd Suite 600-604
Northbrook, IL 60062
Barnett REI Finance is private lender headquartered in Northbrook, IL. They offer funding across the US. They offer long term rental property loans, fix-and-flip loans, and construction loans. Their loan parameters are versatile, including terms starting at 9 months, rates ...
Chicago Bridge Loan
1520 N Damen, Suite D
Chicago, IL 60622
Headquartered in Chicago, IL, Chicago Bridge Loan is a hard money lender offering loans throughout Chicago. They provide cash out hard money loans, rental property loans, short term fix and flip loans, hard money bridge loans, and commercial ...
Vertical Prestige is a hard money lender who provides loans throughout Chicago. They provide short term fix and flip loans and long term rental property loans. They offer rates ranging between 16% and 21%, loan ...
Continuum Capital Funding
216 W OHIO ST, FLOOR 5
Chicago, IL 60654
Continuum Capital Funding is hard money lender headquartered in Chicago, IL. They offer loans throughout Chicago. They provide loans for many different situations, including bridge loans, fix-and-flip hard money loans, loans for investments properties, and commercial ...
Private Lending Group
18W140 Suite 1500, Butterfield Rd
Oakbrook Terrace, IL 60181
Private Lending Group is a private lender headquartered in Oakbrook Terrace, IL offering funding throughout Chicago. They offer loans for a variety of scenarios, including commercial hard money loans, fix and flip loans, and short term loans. ...
GMA Hard Money
1145 Broadway Street
Pittsburgh, PA 15035
Based in Pittsburgh, PA, GMA Hard Money is a private lender offering funding in Chicago, Newark, and Pittsburgh. They offer fix and flip loans, cash out hard money loans, buy and hold loans, and private commercial loans. ...
SIC Funds
977 N. Oaklawn, Suite 203-B
Elhurst, IL 60126
SIC Funds is an Elhurst, IL based private money lender providing funding in Chicago. They provide lending solutions for many different situations, including investment property loans, hard money bridge loans, private commercial loans, hard money refinancing, fix-and-flip hard money ...
Renovo Financial
222 W Adams St #1980
Chicago, IL 60606
Headquartered in Chicago, IL, Renovo Financial is an asset-based lender providing funding across these locations: Chicago, Milwaukee, Detroit, Indianapolis, Cleveland, Cincinnati, Columbus, Philadelphia, Atlanta, Orlando, Tampa, Miami, Austin, San Antonio, Houston, St Louis, and Kansas City. They provide ...
Chicago Private Lending
8820 Skokie Blvd
Skokie, IL 60077
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Perfect Alliance Capital
2815 Forbs Avenue, Suite 107
Hoffman Estates, IL 60192
Headquartered in Hoffman Estates, IL, Perfect Alliance Capital is a private money lender providing loans in Chicago. They offer short term fix and flip loans, loans for investments properties, short term loans, hard money loans for commercial properties, ...
RMAC Lending
7201 N. Classen Blvd, Suite 105
Oklahoma City, OK 73116
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212 Loans
909 NE Loop 410 Suite #100
San Antonio, TX 78209
212 Loans is a San Antonio, TX based private lender offering loans across these areas: Los Angeles, San Diego, Denver, Phoenix, Dallas, Fort Worth, Austin, San Antonio, Houston, Galveston, Chicago, Nashville, Atlanta, Charlotte, and Tampa. They offer loans ...
Turning Point Capital
5409 Washington Street
Downers Grove, IL 60515
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