Kiavi for Illinois investors
Kiavi Funding LLC (NMLS #1125207) was acquired by Figure Technology Solutions; the acquisition closed 1 September 2026 and DSCR loans are now originated by Figure Lending LLC dba Figure. Figure has not published a timeline for combined guidelines or pricing. Kiavi (formerly LendingHome) was one of the largest hard money lenders by volume in the country, with a tech-forward platform and fast underwriting for experienced borrowers active across Chicago and all major investor markets.
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 Kiavi positions in Illinois
The Illinois lender pool for DSCR includes Kiavi among the active platforms. Illinois top metros (Chicago, Springfield, Peoria) see meaningful Kiavi loan volume.
City-level coverage in Illinois
Kiavi provides DSCR coverage across Illinois metros including Chicago, Springfield, and Peoria. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Kiavi program terms apply uniformly across Illinois metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | DSCR non-QM institutional |
|---|---|
| Products | fix-and-flip, BRRRR, rental, bridge, new-construction |
| Loan size | $100K - $2.0M |
| Rates | 5.875%-12% |
| Points | 1 - 3 |
| Max LTV | 80% of ARV |
| Term lengths | 12-24 months (hard money) / 30-year (rental) |
| Typical close time | 7-14 days typical |
| Illinois property tax | 2.3% |
| Illinois state income tax | 4.95% |
Kiavi strengths in Illinois
- national leader by volume
- tech-forward application
- aggressive on funded-deals-history borrowers
- broad property type coverage
Ideal borrower: Experienced investor wanting fast tech-driven origination with national reach
FAQ
Yes, operates nationally including Illinois. Kiavi is based in San Francisco, CA and operates nationally.
Chicago is the top investor market in Illinois and falls within Kiavi national coverage. Chicago property tax follows the Illinois state rate of 2.3 percent. Kiavi typically underwrites Chicago acquisitions at standard rate sheets.
Yes. Springfield ranks among the larger Illinois investor metros and sees consistent DSCR loan volume from Kiavi. Submarket variation within Springfield matters for property selection.
Kiavi 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 Kiavi program.
Kiavi indicative DSCR rate range is 5.875 to 12 percent with 1 to 3 points.
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. Kiavi follows standard business-purpose loan structures.
Kiavi funds fix-and-flip, BRRRR, rental, bridge, new-construction in Illinois.
Illinois allows standard DSCR prepay structures; Kiavi typically uses 3-5 year step down.
Kiavi typical close: 7-14 days typical.
Bottom line
For Illinois DSCR borrowers, Kiavi is one option among many. Compare against 2-3 lender programs before committing.
Independent directory listing. DSCR Loan Program is not affiliated with Kiavi.