Illinois rehab loans (or fix and flip loans) are not easy to obtain. Trying to find a rehab loan is tricky and difficult to do on your own. And, the person that helps you get the money you want to borrow from private investors is a hard money lender specializing in rehab. (In the banking world this individual is commonly called a loan officer.) So, Private Money Lending Guide’s directory includes lenders specializing in rehab who can help you get a private fix and flip loan.
In addition to helping you find hard money rehab loans, Private Money Lending Guide is a comprehensive, online resource for borrowers interested in educating themselves. Therefore, learn more about the world of rehab / fix and flip loans and lending with Private Money Lending Guide.
#1 Private Money Lender Directory for Rehab Loans
Use our nationwide lender directory service to find a private money lender to contact. More so, you can search for a lender by:
- loan type
- keyword (e.g. construction loan or rehab loan)
Contact a Fix and Flip Private Money Lender
First, contact one or more of the hard money rehab lenders and present your loan scenario. Next, interview the lenders. Then, decide on someone with whom you feel comfortable.
Frequently Asked Questions about Finding Hard Money Lenders for Fix and Flip Loans:
How does the Private Money Lending Guide help me find lenders for Fix and Flip Loans?
Our guide will give you the information necessary to directly contact a Rehab Loan hard money lender. Since you are able to choose lenders by loan type, it’s the best directory of lenders in the country.
What is the best way to find rehab loans?
Whatever loan type you’re looking for, such as commercial real estate, residential real estate, land, new construction, a rehab loan or a bridge loan, our hard money lending guide directory will put you in contact with the best rehab loan lenders so you can borrow money with loan terms that best fit your needs.
How do I find a hard money lender for rehab loans?
A rehab loan hard money lender is an important resource when you are looking to get a fix and flip loan. To find a list of rehab loan lenders, visit our hard money lender directory which includes rehab loan lenders.
How do I apply for a rehab loan?
Begin by finding a rehab loan hard money lender that does the type of rehab loan you are looking for and then request a loan application.
How do I gain access to a list of fix and flip loan lenders?
Click on the blue directory button in the top right corner of the website to view the #1 resource list of hard money lenders in rehab loans. No other lending guide gives you the ability to search by loan types such as rehab loans, bridge loans, multi-family loans, commercial loans, residential loans, apartment loans, construction loans and a variety of other types of loans.
Are there hard money lenders for fix and flip loans who are currently lending money?
Yes. Regardless of whether or not the banks are lending, the hard money lenders in our guide are making rehab loans to hard money borrowers.
How can I find a list of hard money lenders for rehab loans?
Several real estate hard money lenders on our site specialize in rehab loans. Search our directory for rehab loan lenders.
Which is the best lender for a rehab loan?
If you are looking for the best hard money lenders for commercial rehab loans and business rehab loans, they can be found in the rehab loan section of the lending guide.
Where does the money come from in fix and flip loans?
The funds come from private investors. The source could be an individual investor or a group of investors.
How do I know if I qualify for a hard money loan?
Find a lender who specializes in the type of loan for which you are looking. For example, if you need a loan for a rehab, find an expert in fix and flip loans. The Private Money Lending Guide can assist you in locating a fix and flip hard money lender that is right for you.
Do I need equity to borrow hard money?
Yes and no. Hard money rehab lending is primarily based on the asset you pledge as collateral. In general, most hard money lenders want you to have at least 40% equity in the property. The exact amount of equity varies by lender and investor, but it will be based on the amount and type of collateral. If you do not have equity in the project you are working on, hard money lenders will generally accept other collateral, such as equity in another property, as a guarantee on the rehab loan.