Hard money lender in Chicago, IL
GPS Capital is a direct hard money and private lender for Chicago-area investment real estate. Two-to-four flats, multifamily value-add, mixed-use buildings and rehabs across Cook County and the metro - we underwrite the property and the exit in-house and can close in as fast as one week.
Chicago hard money and bridge loan terms
Rates 9.99% to 12.99%, 1 to 2 points, loans from $500K to $20M, up to 70% of after-repair value, typically 12-month terms. No minimum credit score. Closes as fast as one week - well-documented deals have funded in 3 to 5 business days.
The Chicago market
Chicago is a 2-4 flat and courtyard-building market - exactly the older, value-add stock where banks move slowest. We underwrite the building as it will be when the work is done, not just as it sits today, and there is no credit minimum or income verification in most cases.
FAQ
Chicago FAQ
Who is a direct hard money lender in Chicago?
GPS Capital is a direct private lender, financing investment property nationwide since 2003, including the Chicago metro (Chicago-Naperville-Elgin, IL-IN). Every loan is underwritten, funded and serviced in-house - no broker, no outside committee.
What are hard money loan rates in Chicago?
GPS Capital's rates run 9.99% to 12.99% with 1 to 2 points, on loans from $500K to $20M, up to 70% of after-repair value, typically on 12-month terms. Every deal is priced on its own merits.
How fast can a hard money loan close in Chicago?
As fast as one week. Well-documented deals have funded in 3 to 5 business days, and many close without a formal appraisal. Tell us your deadline up front and we will tell you honestly if we can hit it.
Can I get a hard money loan on a Chicago 2-4 flat?
Yes. Two-to-four unit investment properties are a core product - purchases, rehabs and cash-out refinances, underwritten on the building and the plan, with no minimum credit score.
Do you work with Chicago-area brokers?
Yes. Brokers are welcome and GPS Capital pays broker fees. Send the property address, loan amount and the borrower's goal for a same-day review.
Have a deal? Get a response within 2 hours.
No obligation. If we can’t fund it, we’ll tell you straight.
Or call us now: 718-247-8863 Deals@gpscapllc.com