Deephaven Mortgage for Illinois investors
Deephaven Mortgage is a broker-only DSCR lender with a 660 minimum credit score and a firm 1.00 minimum DSCR. Maximum loan size is $2,000,000, with maximum LTV of 80% on purchase/rate-term and 70% on cash-out refinance. The company does not publish minimum loan size, rate, or state-coverage figures in the sources reviewed.
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 Deephaven Mortgage positions in Illinois
The Illinois lender pool for DSCR includes Deephaven Mortgage among the active platforms. Illinois top metros (Chicago, Springfield, Peoria) see meaningful Deephaven Mortgage loan volume.
City-level coverage in Illinois
Deephaven Mortgage provides DSCR coverage across Illinois metros including Chicago, Springfield, and Peoria. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Deephaven Mortgage 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 |
| Loan size | — - $2.0M |
| Rates | Not publicly published |
| Points | Not publicly published |
| Max LTV | 80% of ARV |
| Term lengths | Not publicly published |
| Typical close time | Not publicly published |
| Illinois property tax | 2.3% |
| Illinois state income tax | 4.95% |
Deephaven Mortgage strengths in Illinois
- 1.00 minimum DSCR
- Broker-only origination
- Maximum loan size $2,000,000
- 70% LTV on cash-out refinance
Ideal borrower: Broker-originated borrower with a fully qualifying 1.00+ DSCR.
FAQ
Likely; verify direct Illinois coverage. Deephaven Mortgage is based in an undisclosed location and operates in states not publicly disclosed.
Chicago is the top investor market in Illinois and is generally within Deephaven Mortgage states not publicly disclosed footprint. Chicago property tax follows the Illinois state rate of 2.3 percent. Deephaven Mortgage typically underwrites Chicago acquisitions at standard rate sheets.
Yes. Springfield ranks among the larger Illinois investor metros and sees consistent DSCR loan volume from Deephaven Mortgage. Submarket variation within Springfield matters for property selection.
Deephaven Mortgage 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 Deephaven Mortgage program.
Deephaven Mortgage 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. Deephaven Mortgage follows standard business-purpose loan structures.
Deephaven Mortgage funds rental DSCR in Illinois.
Illinois allows standard DSCR prepay structures; Deephaven Mortgage typically uses 3-5 year step down.
Deephaven Mortgage typical close: Not publicly published.
Bottom line
Deephaven Mortgage in Illinois works for the right borrower-deal combination. Match the lender to your deal characteristics.
Independent directory listing. DSCR Loan Program is not affiliated with Deephaven Mortgage.