Merchants Mortgage & Trust for Illinois investors
Merchants Mortgage & Trust is a direct DSCR lender with a 660 minimum credit score, 0.75 minimum DSCR, and maximum 80% LTV. The company does not publish minimum/maximum loan size 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 Merchants Mortgage & Trust positions in Illinois
The Illinois lender pool for DSCR includes Merchants Mortgage & Trust among the active platforms. Illinois top metros (Chicago, Springfield, Peoria) see meaningful Merchants Mortgage & Trust loan volume.
City-level coverage in Illinois
Merchants Mortgage & Trust provides DSCR coverage across Illinois metros including Chicago, Springfield, and Peoria. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Merchants Mortgage & Trust 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 | — - — |
| 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% |
Merchants Mortgage & Trust strengths in Illinois
- Direct DSCR lender
- 660 minimum credit score
- 0.75 minimum DSCR
- Maximum 80% LTV
Ideal borrower: Investor with a 660+ credit score and at least 0.75 DSCR seeking a direct lender.
FAQ
Likely; verify direct Illinois coverage. Merchants Mortgage & Trust 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 Merchants Mortgage & Trust states not publicly disclosed footprint. Chicago property tax follows the Illinois state rate of 2.3 percent. Merchants Mortgage & Trust typically underwrites Chicago acquisitions at standard rate sheets.
Yes. Springfield ranks among the larger Illinois investor metros and sees consistent DSCR loan volume from Merchants Mortgage & Trust. Submarket variation within Springfield matters for property selection.
Merchants Mortgage & Trust 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 Merchants Mortgage & Trust program.
Merchants Mortgage & Trust 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. Merchants Mortgage & Trust follows standard business-purpose loan structures.
Merchants Mortgage & Trust funds rental DSCR in Illinois.
Illinois allows standard DSCR prepay structures; Merchants Mortgage & Trust typically uses 3-5 year step down.
Merchants Mortgage & Trust typical close: Not publicly published.
Bottom line
For Illinois DSCR borrowers, Merchants Mortgage & Trust is one option among many. Compare against 2-3 lender programs before committing.
Independent directory listing. DSCR Loan Program is not affiliated with Merchants Mortgage & Trust.