Conventus for Illinois investors
Conventus is a direct DSCR lender with a short-term rental underwriting focus, licensed in California plus 44 other states (45 total). The company does not publish minimum credit score, DSCR, loan size, or rate figures in the sources reviewed; borrowers should request current terms directly.
Illinois context
Illinois property tax burden second-highest in nation. Chicago south/west neighborhoods produce strong DSCR cash flow with Section 8 vouchers. Cook County investor-class tax assessment.
How Conventus positions in Illinois
Illinois is well covered by national DSCR lenders, with Conventus as one option. Where Conventus differentiates: Short-term rental DSCR underwriting focus. Where it competes: rates not publicly published against peer programs.
City-level coverage in Illinois
Conventus provides DSCR coverage across Illinois metros including Chicago, Springfield, and Peoria. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Conventus program terms apply uniformly across Illinois metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | DSCR non-QM institutional |
|---|---|
| Products | rental DSCR, STR DSCR |
| Loan size | — - — |
| Rates | Not publicly published |
| Points | Not publicly published |
| Max LTV | Not publicly published |
| Term lengths | Not publicly published |
| Typical close time | Not publicly published |
| Illinois property tax | 2.3% |
| Illinois state income tax | 4.95% |
Conventus strengths in Illinois
- Short-term rental DSCR underwriting focus
- Direct lender
- Licensed in California plus 44 other states (45 total)
Ideal borrower: Short-term rental investor seeking a DSCR lender that specializes in STR underwriting.
FAQ
Yes, operates nationally including Illinois. Conventus is based in an undisclosed location and operates nationally.
Chicago is the top investor market in Illinois and falls within Conventus national coverage. Chicago property tax follows the Illinois state rate of 2.3 percent. Conventus typically underwrites Chicago acquisitions at standard rate sheets.
Yes. Springfield ranks among the larger Illinois investor metros and sees consistent DSCR loan volume from Conventus. Submarket variation within Springfield matters for property selection.
Conventus applies the same rate sheet across Illinois metros. Pricing variation comes from property-specific factors rather than metro location within the same state. Chicago, Springfield, and Peoria all qualify for the same Conventus program.
Conventus does not publish a rate sheet. Pricing is quoted per deal and depends on credit, leverage, coverage ratio and experience.
Illinois property tax burden second-highest in nation. Chicago south/west neighborhoods produce strong DSCR cash flow with Section 8 vouchers. Cook County investor-class tax assessment. Conventus follows standard business-purpose loan structures.
Conventus funds rental DSCR, STR DSCR in Illinois.
Illinois allows standard DSCR prepay structures; Conventus typically uses 3-5 year step down.
Conventus typical close: Not publicly published.
Bottom line
Illinois investors considering Conventus should verify current rate sheets directly and confirm specific submarket coverage.
Independent directory listing. DSCR Loan Program is not affiliated with Conventus.