Who we are and what we do

We are local Chicago hard money lenders for real estate investors

What is hard money?

A hard money loan is a loan that is backed by real estate such that the typical underwriting (i.e. review) of a borrower, looking at things such as credit score and finances, are far less important than for a traditional lender (such as a bank). Our loans are secured by a mortgage against the real estate, usually a first-mortgage.

What about owner-occupied property?

We do not lend on anything that the owner lives in or intends to live in while our loan is in place.

Where do you lend?

We only lend in the Chicagoland area, meaning the city and within approximately 1 hour away.

Is it important to use a local lender?

We think it’s the only way to go, even if you don’t use us! We come out to meet you. We see your property ourselves. We don’t wait on an appraisal and we usually don’t even use one. We tell you directly what you need to get the loan done quickly. And usually, we come see you as soon as you call or email.

Does it really matter if I use a local lender?

Yes. A lot. Ask around.

Anyone who has dealt with lenders can tell you why you would ideally want to meet with the lender themselves, often at the property. What if you need a little more money down the road? Or want to run an idea by them? You can not do that with a lender that already “sold” your loan the day you closed on it. Often, they can not later increase your loan without another appraisal. We do not have any such restrictions.

  • Are you brokers?

    No. We lend our own money. We don’t have to search for a provider for your loan and hope someone will fund it. We fund it ourselves.

  • What is the review time?

    We can fund a loan in a day, but we don’t really like to. But we can and have!

  • Where are you located?

    In Chicago (Wicker Park)
    1520 N Damen
    Suite D
    Chicago, IL 60622

  • Where is the on-line application?

    We don’t use them. You have better things to do with your time.

    Call: 773-245-6265 or
    Email: loan@chicagohardmoney.com to get started

  • What does it cost?

    Please call or e-mail, we will discuss pricing on your deal.

  • Do you lend in Wisconsin or Indiana?

    Currently, we do not.

  • What underwriting criteria do you use?

    We lend up to 65% of what we believe an asset is worth. We underwrite deals ourselves, and although we may rely upon an appraisal, we often do not require them.

  • Isn’t a bank cheaper?

    If you can obtain bank financing, it is usually a less expensive option, and you should certainly exhaust those avenues first within the time frame you have to work in.

  • Do you have a minimum and maximum loan term?

    Our loans are usually for up to 18 months maximum term. There is no minimum amount of time you must keep the loan funds, or a minimum interest period - You can pay back the funds whenever you wish, at any time prior to the maturity date.

  • How do I get started?

    Call or email us, you’ll be farther along than you think.