Broker, not a lenderHard Money Lenders inJoliet, Illinois
Fix and flip, DSCR rental and new construction financing for Joliet investors. We do not lend our own money, we shop your deal across a 400+ lender network and come back with real terms you can compare on total cost.
Prefer to talk it through? Call or text Micah at (281) 636-5682.
What you get working with us
Price a Joliet deal right now
Prefilled with a realistic Joliet deal. Change any number and it reprices instantly on the lanes licensed in Illinois, using the same engine behind our term sheets.
Financing a deal in Joliet
Joliet is the Will County seat, an old steel and limestone town on the Des Plaines River that has turned into a warehouse and logistics hub along I-80 and I-55. That job growth has pulled in buyers, and prices have been climbing. The flip stock is in the older city: 1900s to 1920s frame houses on the near west side, brick homes in the historic districts, and post-war ranches to the south and east. The newer subdivisions on the far west edge sell to a different, pricier buyer.
Joliet splits roughly at the river and again at the old city limits. The near west side, the Cathedral Area and the Upper Bluff hold the most character and the biggest houses for the money, but the renovations run deeper. The east and south sides are cheaper and more investor heavy, so the comps there can be thin. The far west side, inside Plainfield District 202 and partly in Kendall County, is almost all newer construction and isn’t where flips live. Pick your street by who will buy it finished, then buy deep enough to cover a real rehab.
What a Joliet deal looks like on paper
Joliet example: $160,000 purchase, $60,000 rehab, $305,000 after repair value, 730 credit, first flip. The engine puts that borrower on the Best Rate program at 9.49%. Say a 1920s frame two-story near the Cathedral Area: new roof and gutters, a gutted kitchen, a second bath, updated wiring, a furnace and tuckpointing on the foundation. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.
- Down payment (15% of the purchase)You$24,000
- Origination (0.5%)Lender$2,000
- Lender fees (flat)Lender$1,989
- Broker fee (1%)Broker$2,000
- Title and closing (estimate at Texas rates)Title$3,304
- Prepaid interest (15 days)Lender$764
- Property insuranceInsurer$2,090
- AppraisalAppraiser$550
Interest while you rehab: $1,076 a month on the $136,000 funded at closing, $1,550 once every draw is out. Proof of funds is cash to close plus $16,200 of rehab reserve and $9,300 of interest reserve. Sample borrower, sample address; the sheet is issued by the same engine as the borrower’s instant term sheet.
What we can fund in Joliet
| Program | Down payment | Min credit | Experience | Rate | Origination | Max loan | Term | Close |
|---|---|---|---|---|---|---|---|---|
| Best Rate | 15% | 700+ | First flip OK | 8.99% to 9.49% | 0.5% | 70% of ARV | 12 months | 5-14 days |
| First Flip, 10% Down1 | 10% | 660+ | First flip OK | 9.99% | 2% | 75% of ARV | 12 months | 21-30 days |
| 7.5% Down, 3+ Flips2 | 7.5% | 660+ | 3+ completed flips | 9.99% | 1.5% | 75% of ARV | 12 months | 21-30 days |
| 5% Down, 3+ Flips3 | 5% | 600+ | 3+ completed flips | 12.00% | 2% | 75% of ARV | 12 months | 7-14 days |
| 5% Down, 5+ Flips4 | 5% | 660+ | 5+ completed flips | 9.99% to 10.99% | 2% | 75% of ARV | 9-24 months | 10-14 days |
| 100% Financing, 2+ Flips5 | 0% (100% financing) | 620+ | 2+ completed flips | 9.50% to 12.00% | 2.5% | 70% of ARV | 9 months | 7-14 days |
- Rate 9.99% at 2 to 2.25 points by credit; buy down to 8.99%. Loans under $150,000 add 0.5% to the rate and half a point, under $100,000 1.5% and a point. Under 680 credit the loan caps at 87.5% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
- Rate 9.99% at 1.5 to 1.75 points by credit; buy down to 8.99%. Loans under $150,000 add 0.5% to the rate and half a point, under $100,000 1.5% and a point. Under 680 credit the loan caps at 90% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
- Rate from 12%, set per file. Origination steps down with experience: 1.5% at 5+ deals, 1% at 8+.
- Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
- Needs 2 completed flips in the last two years and about $75,000 in verified liquidity. Rate 9.5% to 12% and 2 to 3 points, set per file. Purchase plus rehab must fit under 70% of ARV.
Origination has a $2,000 minimum on every program and the broker fee is 1% with a $2,000 minimum. These are the numbers the instant term sheet uses as of October 2026. Strong credit, cash and a track record can price lower through specific lenders in the network.
Where Joliet prices sit right now
Before we price a Joliet flip, we look at where sales in the city sit today. Your block can run well above or below these numbers, so treat them as the starting point, not the answer.
Redfin puts the Joliet median sale price at $340,000 for the three months ending September 2026, up 11.1% on a year earlier, with homes selling in around 54 days.
| Median sale price, Joliet (Redfin, 3 months to Sep 2026) | $340,000 |
| Change from a year earlier (Redfin) | +11.1% |
| Days on market, Joliet (Redfin) | 54 |
Sources: Redfin, Joliet housing market
How a Joliet file actually gets priced
Will County appraisers comp tightly inside the old neighborhoods, so we set the ARV on renovated sales near the subject from the last 90 days and keep newer far west subdivisions out of the set. A Cathedral Area two-story comps against similar older homes, not against a 2005 build in 60586. Will County tax bills are heavy, they’re paid a year behind, and the seller credits them at closing, so we put that credit and the next year’s bill into the numbers. For the older stock, we want the basement, chimney and electrical looked at before we lock the scope.
The Des Plaines River and Hickory Creek flood low ground near downtown and the east side, so check the floodplain on anything near either. Pre-1940 frame houses bring lead paint, galvanized supply lines and old knob and tube in the walls. The Upper Bluff is a local historic district, and exterior work there can need review before permits issue. Northern Illinois is radon country, so test and budget mitigation. In the Chicago suburbs, buyer and seller each usually hire a real estate attorney, so plan for that fee on both ends of the flip.
Who buys your finished Joliet deal
The finished Joliet house sells to a local first-time buyer, a warehouse or hospital worker, or a family priced out of Plainfield and Naperville who wants an older house with room. FHA buyers are common, so a clean inspection matters. The ceiling depends on the neighborhood: a finished Cathedral Area house can stretch, while an east side ranch has to stay close to its block. Rents are solid near the logistics corridor, so a DSCR refinance is a fair backup if the resale is slower than planned.
Your whole loan, in one portal
Apply once and the whole Joliet loan lives in the borrower portal: the term sheet you can accept and sign in the browser, where the loan stands, one place for documents, and the list of what the lender is still waiting on. These are real screens from the portal.
What we fund in Joliet
Fix & Flip
Purchase plus 100% of rehab, released in draws. The core product in Joliet.
DSCR Rental
Qualifies on the property’s rent, not your W-2. The usual exit when a flip becomes a hold, and the long-term financing on a BRRRR.
New Construction
Ground-up for builders and infill developers, with a draw schedule matched to the build timeline.
Where we lend in Joliet
We broker deals across the whole Joliet market. These are the submarkets investors ask us about most:
From deal to funded
Send the deal
Address, purchase price, rehab budget and your ARV. Three minutes, no credit pull.
We shop it
Your scenario goes to the lenders in our network that actually fit it and are licensed in Illinois, not all 400 at once.
Real terms back
Rate, origination, leverage and cash to close side by side, so you can compare on total cost.
Close
5-14 days to fund. We stay on title and the lender through funding.
Joliet hard money FAQ
Do you lend hard money in Joliet?
Which fix and flip programs apply in Joliet?
How fast can a Joliet hard money loan close?
How much do I need to bring to close on a Joliet flip?
Do you fund the rehab budget in Joliet?
What credit score do I need for a Joliet fix and flip loan?
Can I refinance a Joliet flip into a rental loan?
Can I get a hard money loan on a historic house in Joliet?
What does a first flip in Joliet look like on paper?
Before you sign anything
Ready to fund your Joliet deal?
Submit your scenario in under 3 minutes. We shop it and come back with real terms, not a generic rate sheet.