Hard Money Lenders Illinois
Get approved in less than 5 minutes with instant term sheet + proof of funds
Fast Illinois Hard Money Loans
Ready to close in less than a week
- Interest rates 9.25 – 11.25%
- Credit score 650+
- Loan-to-Cost Up to 90%
- No income verification
- Get approved online in 5 minutes
- Instant proof of funds letter
- Interest only payments

Need financing for your upcoming real estate project? Get approved for a hard money loan in 5 minutes using our online application
Need funding fast? Look no further than New Silver. New Silver has the perfect selection hard money loans for property investors in Illinois.
New Silver is one of the highest-rated hard money lenders in the US, and we have a variety of different hard money loan products available to meet the needs of real estate investors in Hawaii. Run by a team of experienced real estate professionals, our loans are ideal for real estate investors in IL.
Loan Programs
Fix & Flip
For house flippers hoping to purchase a fixer upper to renovate and resell in Illinois. Interest rates from 9.25 – 11.25%, Loan-To-Cost up to 90%, with loan terms up to up to 18 months. Hard Money Refinance Loans also available.
- Get up to $5,000,000
- Interest rate 9.25 – 11.25%
- Origination fee from 1.25 - 1.75%
- Up to 100% construction
Rent
30-year rental loans for stabilized rental properties. Ideal for investors hoping to acquire an investment property. Interest rates from 6.5, loan-to-purchase price up to 80%. Built for buy and hold investors that purchase rental properties.
- Get up to $3,000,000
- Interest rate 6.5
- Origination fee 0 - 2%
- 30-year fixed rate
Ground Up
Designed for residential builders, our ground up construction loans can finance up to 90% Loan-to-Cost (LTC). Interest Rates from 10.5 to 11.5%
The perfect solution for builders in Illinois that need quick access to capital to fund construction costs.
- Get up to $5,000,000
- Interest rate 10.5 - 11.5%
- Origination fee from 1.5 - 2%
- Up to 18 months
Recently Funded In Illinois

$260,000
Libertyville, IL

$145,000
Chicago, IL

$163,000
Dr, Wauconda, IL

$765,000
Lake Forest, IL

$251,000
Libertyville, IL

$187,000
Loves Park, IL

$148,000
McHenry, IL
Illinois Housing Market Overview
Average Home Value
$280,645
1-Year Home Appreciation
4.4%
Average
1 Bedroom Rent
$1,638/month
Average 3 Bedroom Rent
$2,388/month
Illinois Offers Affordable Entry with Steady Appreciation: Illinois offers real estate investors a compelling mix of affordability and consistent growth. With an average home value of $280,645, properties are priced below the national average, providing a lower barrier to entry. The state’s 4.4% year-over-year appreciation indicates a stable market with potential for long-term gains.
Robust Rental Market: The rental market in Illinois remains robust, with average rents for one-bedroom apartments at $1,638 and three-bedroom units at $2,388. These figures suggest strong demand for rental properties, offering investors opportunities for steady cash flow.
Chicago Continues To Provide Good Investing Opportunities: Cities like Chicago and its surrounding suburbs continue to attract residents and businesses, supporting both property appreciation and rental income potential. Identifying undervalued properties in these areas can yield significant returns, especially when combined with value-add strategies such as renovations or repositioning.
Real Estate Investing Hot Spots In Illinois:
Chicago remains a cornerstone for real estate investors, offering a diverse range of opportunities from multi-family rentals to short-term vacation properties. Neighborhoods like Wicker Park and Logan Square are particularly attractive due to their vibrant communities and strong rental demand. The city’s robust economy and cultural appeal continue to drive steady appreciation and rental income potential.
Naperville stands out as a top suburban market, known for its excellent schools, low crime rates, and high quality of life. The city’s strong local economy and family-friendly environment make it a magnet for long-term tenants. Investors can benefit from consistent rental income and property value appreciation in this sought-after locale.
Rockford has emerged as a surprising leader in the housing market, recently being named the hottest housing market in the U.S. With a median home price of $242,000, it’s significantly more affordable than the national average. The city’s low inventory and high demand have led to rapid sales and price increases, presenting lucrative opportunities for investors seeking both cash flow and appreciation.
Illinois Associations For Real Estate Investors
Resources Used In This Post:
Zillow | Apartments.com | FlipSquad | Rentastic | NY Post
Reasons to Fund Your Investment Property with New Silver
It doesn’t matter if you are a buy and hold investor or a house flipping specialist. New Silver is one of the best Illinois hard money lenders with a selection of real estate loans perfectly matched to meet your real estate investing needs. Unlike a conventional mortgage which can take ages to complete, our hard money loans can be approved online in less than 5 minutes, with an instant proof of funds letter to help you secure the purchase. We are ready to help you solve your real estate investment needs, with a fast closing hard money loan.

Yes. New Silver is both a hard money lender and private money lender specializing in asset-based financing for real estate investors across the U.S. This makes us an excellent option for investors who need quick access to capital – with instant term sheets, competitive rates, and, most importantly, fast closings that typically happen within 5 to 7 business days.
New Silver offers a variety of loan terms to suit different real estate investing strategies in Illinois, including:
- Short-term fix and flip loans with durations typically between up to 18 months.
- 30 rental property loans for long-term investment stability.
- Construction loans structured around your development timeline, typically 18 months.
These terms allow real estate investors to match financing to their strategy—whether that’s a quick resale or long-term cash flow.
New Silver provides ground-up construction loans for real estate investors and developers building Residential 1-4 units, condos, townhomes in Illinois. We fund projects up to $5,000,000, with terms tailored to construction timelines. These loans are ideal for single-family residential builds that need reliable capital from start to finish.
New Silver offers short-term bridge financing through our fix and flip loan program. These loans have terms of up to 18 months and are ideal for real estate investors who need immediate funding to purchase and improve properties before resale.
Interest rates on hard money loans are higher than traditional mortgages because of the increased risk and speed involved. These loans are used for investment properties that need renovation, quick closing timelines, or flexible qualification—situations traditional lenders usually avoid.
Hard money loans are asset-based, meaning the property’s value drives the approval and serves as collateral for the loan. Since they’re short-term and fund riskier projects, the higher interest compensates for that risk. In return, investors gain access to fast, flexible capital that can help them act on time-sensitive opportunities and scale their portfolio faster.
Origination fees for New Silver loans typically range between 1.25 - 1.75%. Monthly payments on short-term loans are interest-only, reducing cash flow strain during renovations. For an accurate estimate, we recommend using our Hard Money Loan Calculator to preview fees and monthly costs.
Credit scores are part of our evaluation process, but they’re not the primary factor. Unlike traditional lenders, New Silver focuses on the asset and overall deal strength. A lower credit score may still qualify if the investment opportunity is strong.
New Silver offers a range of loan products designed for real estate investors in Illinois, including:
Each product is tailored for specific investment strategies, whether you’re renovating, holding, or building.
New Silver specializes in residential investment properties up to 4 units. We do not currently fund commercial properties with more than 4 units. However, we have partners we can refer you to if your project exceeds our scope.
We offer a DSCR-based 30-year rental property loan.This loan qualifies largely based on the income generated by the investment property, with a minimum DSCR requirement of 0.75. It’s ideal for buy-and-hold investors who want long-term financing in Illinois.
Where We Lend
Hard Money Loans Across The US
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- Washington DC
- West Virginia
- Wisconsin
- Wyoming
Apply for a loan at New Silver today!
Ready to get started with your loan from New Silver? Get approved quickly.
Get Approved Online