Illinois Bridge Loans provide business-purpose real estate investors with Up to 80% LTV Acquisition / 75% Bridge Cash-Out across loan amounts from $100,000 – $15,000,000+ at 8.75% – 10.99% Interest-Only (12, 24 & 36 Months (With Extension Options), 640+ FICO min FICO, 10 – 15 Business Days close). In Illinois (IL), lenders underwrite to a Judicial (Illinois Mortgage Foreclosure Law) statutory framework (210–300 days-day average timeline), a 2.08% average property tax rate (~$546/mo at the $315,000 state median), and $560/$100K hazard insurance (~$147/mo).
Real estate bridge loans provide transitional interest-only financing to acquire vacant or under-market properties, complete value-add lease-up on 5–25+ unit apartments, execute 1031 exchanges, or unlock equity prior to refinancing into a long-term 30-year fixed DSCR loan.
Median 1–4 unit price of $315,000 (75% LTV = $236,250) with Form 1007 rent of $2,650/mo and multifamily rent of $1,580/door.
Illinois operates under a Judicial (Illinois Mortgage Foreclosure Law) regime (210–300 days days). Lenders require ALTA lender's title endorsement, LLC Good Standing, and 6 months PITIA liquidity reserves.
Close in your Illinois LLC or Delaware LLC registered in IL with zero personal tax returns, W-2s, or 4506-C transcripts.