RCN Capital for Illinois investors
RCN Capital is a national non-QM lender with capacity for larger transactions and strong experience on multi-unit and small commercial deals. Minimum DSCR is 1.00 at 680+ credit score or 1.15 at 660-679; excludes Alaska, North Dakota, South Dakota, Vermont, Nevada, and Utah. Closes in as few as 10 business days.
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 RCN Capital positions in Illinois
Within Illinois, RCN Capital competes alongside other DSCR lenders. RCN Capital strengths: high loan limits, established track record. The medium aggregate DSCR economics of Illinois create demand for RCN Capital programs in Chicago and Springfield particularly.
City-level coverage in Illinois
RCN Capital provides DSCR coverage across Illinois metros including Chicago, Springfield, and Peoria. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. RCN Capital 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 - $3.5M |
| Rates | 9.5%-12% |
| Points | 1 - 3 |
| Max LTV | 80% of ARV |
| Term lengths | 12-24 months (hard money) / 30-year (rental) |
| Typical close time | 10-21 days typical |
| Illinois property tax | 2.3% |
| Illinois state income tax | 4.95% |
RCN Capital strengths in Illinois
- high loan limits
- established track record
- multi-family capacity
Ideal borrower: Investor with larger deals and multi-property exposure
FAQ
Yes, operates nationally including Illinois. RCN Capital is based in South Windsor, CT and operates nationally.
Chicago is the top investor market in Illinois and falls within RCN Capital national coverage. Chicago property tax follows the Illinois state rate of 2.3 percent. RCN Capital typically underwrites Chicago acquisitions at standard rate sheets.
Yes. Springfield ranks among the larger Illinois investor metros and sees consistent DSCR loan volume from RCN Capital. Submarket variation within Springfield matters for property selection.
RCN Capital 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 RCN Capital program.
RCN Capital indicative DSCR rate range is 9.5 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. RCN Capital follows standard business-purpose loan structures.
RCN Capital funds fix-and-flip, BRRRR, rental, bridge, new-construction in Illinois.
Illinois allows standard DSCR prepay structures; RCN Capital typically uses 3-5 year step down.
RCN Capital typical close: 10-21 days typical.
Bottom line
Illinois investors considering RCN Capital should verify current rate sheets directly and confirm specific submarket coverage.
Independent directory listing. DSCR Loan Program is not affiliated with RCN Capital.