Overview
Renovo Financial is the largest Chicago-based hard money lender. Founded 2011, they've closed thousands of loans across the Midwest and have particularly deep penetration in Chicago, Indianapolis, and Milwaukee. Strong relationships with the local broker community make them a default first-call for many Chicago investors.
Renovo Financial is based in Chicago, IL and was founded in 2011. They operate in Chicago / national and offer fix-and-flip, BRRRR, new-construction, bridge, rental, multi-family financing. Their loan amount range runs from $100K to $5.0M.
Key terms at a glance
| Loan type | Hard money / non-QM institutional |
|---|---|
| Products | fix-and-flip, BRRRR, new-construction, bridge, rental, multi-family |
| Geographic coverage | Chicago / national |
| Loan size | $100K – $5.0M |
| Interest rate range | 9.5% – 12.5% |
| Origination points | 1 – 3 |
| Max LTV | 85% of ARV |
| Max LTC | 90% of cost |
| Term lengths | 6-24 months (hard money) / 30-year (rental) |
| Typical close time | 7-14 days typical |
Strengths
- Chicago-based — strongest local market knowledge
- experienced underwriting team
- national reach with local depth
- strong fix-and-flip program
Ideal borrower
Experienced Chicago-area investor doing 2+ deals/year on SFR or 2-4 unit projects
How Renovo Financial compares
As an institutional non-QM lender, Renovo Financial's underwriting is templated and predictable. That is fast for a borrower who fits the box and inflexible for one who does not.
Coverage is the constraint most investors hit first. Renovo Financial serves Chicago / national, and lender licensing changes often enough that it is worth confirming your state before you get far into a file. Our state-by-state pages for Renovo Financial cover the rules that differ by state — prepayment penalties, entity vesting and foreclosure mechanics.
Other lenders investors compare against
- The full lender directory — every lender we track, with terms side by side
- How DSCR qualification works — the ratio every one of these lenders underwrites to
- DSCR calculator — check coverage before you apply anywhere
Renovo Financial FAQ
Renovo Financial is based in Chicago, IL and serves Chicago / national. Coverage changes as licensing changes, so confirm your state directly with the lender before relying on it.
Renovo Financial's indicative rate range is 9.5%–12.5% with 1–3 points. Pricing depends on credit, leverage, coverage ratio and experience, and moves with the market.
Renovo Financial's typical minimum loan is $100K, with maximum loan size up to $5.0M.
Renovo Financial's typical close timeline is 7-14 days typical. Fast-close depends on documentation quality, title clarity, and underwriting load.
Renovo Financial offers fix-and-flip, BRRRR, new-construction, bridge, rental, multi-family financing. They also do DSCR rental refinance, which makes them a one-stop shop for BRRRR strategies.
Experienced Chicago-area investor doing 2+ deals/year on SFR or 2-4 unit projects
This review is an independent directory listing. DSCR Loan Program is not affiliated with Renovo Financial, receives no payment for placement, and does not rank lenders in exchange for compensation. Rates, terms, and eligibility are determined by the lender and subject to change. Always verify current pricing directly with the lender before relying on any specifics.