LoanFunders for Illinois investors
LoanFunders is a direct DSCR lender with a 0.80 minimum DSCR floor (1.15 DSCR required for its best pricing tier) and a 660 minimum credit score. Minimum loan size is $100,000, with maximum LTV of 80% (75% on 2–8 unit properties). The company does not publish maximum 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 LoanFunders positions in Illinois
For Illinois specifically, LoanFunders fits investors who match the hard money approach. The medium cash flow profile of Illinois aggregate makes it workable for LoanFunders.
City-level coverage in Illinois
LoanFunders provides DSCR coverage across Illinois metros including Chicago, Springfield, and Peoria. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. LoanFunders 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 | $100K - — |
| 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% |
LoanFunders strengths in Illinois
- 0.80 minimum DSCR floor (1.15 DSCR for best pricing)
- Direct lender
- $100,000 minimum loan size
- Maximum 80% LTV (75% on 2–8 unit properties)
Ideal borrower: Investor with at least 0.80 DSCR seeking a direct lender; best pricing available at 1.15+ DSCR.
FAQ
Likely; verify direct Illinois coverage. LoanFunders 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 LoanFunders states not publicly disclosed footprint. Chicago property tax follows the Illinois state rate of 2.3 percent. LoanFunders typically underwrites Chicago acquisitions at standard rate sheets.
Yes. Springfield ranks among the larger Illinois investor metros and sees consistent DSCR loan volume from LoanFunders. Submarket variation within Springfield matters for property selection.
LoanFunders 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 LoanFunders program.
LoanFunders 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. LoanFunders follows standard business-purpose loan structures.
LoanFunders funds rental DSCR in Illinois.
Illinois allows standard DSCR prepay structures; LoanFunders typically uses 3-5 year step down.
LoanFunders typical close: Not publicly published.
Bottom line
LoanFunders 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 LoanFunders.