Hard Money Lenders in Peoria, IL | Fix & Flip | Capital Kings LLC
Capital Kings LLC · Non-QM Mortgage Broker

Hard Money Lenders inPeoria, Illinois

Fix and flip, DSCR rental and new construction financing for Peoria 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.

Get a term sheet →Price a Peoria deal

Prefer to talk it through? Call or text Micah at (281) 636-5682.

Reviewed by Micah Foster, Founder & CEO, September 2026

Price a Peoria deal right now

Prefilled with a realistic Peoria deal. Change any number and it reprices on the programs that lend in Illinois, with the same math as our term sheets.

Sizing your flip on the same terms as the term sheet. Get a real term sheet →

Financing a deal in Peoria

Peoria sits on bluffs above the Illinois River, and the city’s housing sorts itself by elevation and age. The river valley and the South Side are the oldest and cheapest, the East and West Bluff are early 1900s frame and brick houses around Bradley University and the hospitals, and North Peoria is post-war ranches and split-levels. Big employers anchor demand: OSF HealthCare, Carle and the medical district, Bradley, and Caterpillar, which kept a large Peoria presence after moving its headquarters to Texas. A first flip can be priced here.

The Peoria deal is really two markets. North Peoria ranches in 61614 and 61615 are the retail flips: predictable renovations, owner-occupant buyers, clean comps, and houses that have been going pending within a week. The bluffs are where the cheapest buys are, with large old houses at prices that look impossible from Chicago, but the finished-house ceiling is low and a lot of the buyers are landlords. Decide whether you’re building for a retail buyer or a renter before you set the scope, because a bluff house finished like a North Peoria ranch rarely gets its money back.

What a Peoria deal looks like on paper

Peoria example: $110,000 purchase, $42,000 rehab, $215,000 after repair value, 700 credit, first flip. The engine puts that borrower on the Best Rate program at 9.49%. Think a 1960s North Peoria ranch near Richwoods: roof, HVAC, a kitchen, two baths and flooring, finished for a hospital or Caterpillar buyer. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$135,500
Cash to close$27,853
Proof of funds to show$46,882
Where the $27,853 goes
  • Down payment (15% of the purchase)You$16,500
  • 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$3,005
  • Prepaid interest (15 days)Lender$365
  • Property insuranceInsurer$1,444
  • AppraisalAppraiser$550

Interest while you rehab: $739 a month on the $93,500 funded at closing, $1,072 once every draw is out. Proof of funds is cash to close plus $12,600 of rehab reserve and $6,429 of interest reserve. Sample borrower, sample address; the sheet is issued by the same engine as the borrower’s instant term sheet.

Fix and flip programs in Peoria

Swipe the table for rates, credit and terms →

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
Best Rate15% of purchase700+First flip OK8.99% to 9.49%0.5%70% of ARV12 months5-14 days
First Flip, 10% Down110% of purchase + rehab660+First flip OK9.99%2%75% of ARV12 months21-30 days
7.5% Down, 3+ Flips27.5% of purchase + rehab660+3+ completed flips9.99%1.5%75% of ARV12 months21-30 days
5% Down, 5+ Flips35% of purchase660+5+ completed flips9.99% to 10.99%2%75% of ARV9-24 months10-14 days
100% Financing, 2+ Flips40% (100% financing)620+2+ completed flips9.50% to 12.00%2.5%70% of ARV9 months7-14 days
  1. Rate 9.99% with 2% to 2.25% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. 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.
  2. Rate 9.99% with 1.5% to 1.75% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. 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.
  3. Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
  4. Needs 2 completed flips in the last two years and about $75,000 in verified liquidity. Rate 9.5% to 12% with 2% to 3% origination, set per file. Purchase plus rehab must fit under 70% of ARV.

Origination has a $2,000 minimum on most programs (a few lenders set a higher one, noted above) and our broker fee is 1% with a $2,000 minimum and a $10,000 maximum. These are the numbers our term sheets use as of October 2026. Strong credit, cash and a track record can price lower through specific lenders in the network.

Where Peoria prices sit right now

Before we price a Peoria 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 Peoria median sale price at $188,000 for the three months ending August 2026, about 7% above a year earlier, with homes selling in around 13 days. Zillow’s home value index for the city is $138,052, up 5.6% over the year, with homes going pending in about 7 days. The bluffs sit far under that: Zillow puts the East Bluff at $78,049 and the West Bluff at $84,067.

Median sale price, Peoria (Redfin, 3 months to Aug 2026)$188,000
Days on market, Peoria (Redfin)13
Zillow home value index, Peoria (Aug 2026)$138,052
Zillow home value index, East Bluff$78,049
Zillow home value index, West Bluff$84,067

Sources: Redfin, Peoria housing market, Zillow, Peoria home values, City of Peoria, residential property registration

How a Peoria file actually gets priced

Peoria County appraisers comp inside tight lines, and the gap between areas is huge: Zillow puts the East Bluff and West Bluff at barely more than half the citywide index, while the North Peoria ranch streets sit above it. We set the ARV on closed sales from the same area over the last 90 days and treat a bluff comp and a North Peoria comp as different markets. On the older bluff houses, the foundation, the roof and the electrical get looked at before closing. Illinois taxes are paid a year behind, so the seller credits the buyer for them at closing, and that proration is part of your cash to close.

The Illinois River sets flood records here; the 2013 crest was the highest on record and put water into the riverfront and low parts of the city, so anything near the river or in the valley needs a flood check. Up on the bluffs, the ground slopes hard in places, so retaining walls, drainage and foundation movement are line items to price. Most of the bluff stock predates 1940, so lead paint, old wiring and galvanized plumbing are normal. Peoria requires residential rental properties to be registered with the city, which matters if the exit turns into a hold. Illinois is also a high-radon state, so test and budget mitigation.

Who buys your finished Peoria deal

North Peoria ranches exit to owner-occupants: nurses and doctors from the medical district, engineers and plant workers, and families moving up. Redfin shows Peoria homes selling in about two weeks, so a well-priced ranch doesn’t sit. Bluff houses exit more often to investors or as rentals, and with purchase prices this low the rent math is strong, which makes a DSCR refinance a real ending there. Peoria Heights and the suburbs to the north are the upper end of the market; a flip priced against them has to match their finish and schools.

What happens after you apply

Apply once and the whole Peoria 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.

Capital Kings borrower portal: Welcome to your file
Welcome to your fileSign in and the term sheet is waiting, with every fee and who it goes to.
Capital Kings borrower portal: Where the loan stands
Where the loan standsApplication, appraisal, title, underwriting, clear to close.
Capital Kings borrower portal: Run the deal again
Run the deal againThe analyzer priced off your real numbers, before and after the appraisal.
Capital Kings borrower portal: What the lender still needs
What the lender still needsEvery open condition, what clears it, and who it is waiting on.

The full walkthrough is on how it works, and you can tour the borrower portal before you apply.

What we fund in Peoria

Fix and flip

10%down on a first flip
Rates
from 8.99% at 760+ credit
With experience
0% down with 2+ completed flips, purchase plus rehab under 70% of ARV
Rehab
100% funded, paid in draws
Fix and flip loans in Illinois →

Rental (DSCR)

7.00%rates from, 30-year fixed
Qualify on
the rent, no W-2s or tax returns
Down
from 20% at 700+ credit
Good for
buy-and-hold, and the refinance when a flip becomes a rental
DSCR loans in Illinois →

New construction

95%of cost with a financed interest reserve, after 1 completed build
Rates
from 8.49% with 5+ completed builds
First build
85% of cost with a GC who has 5+ builds
Builds
single family to small multifamily
New construction loans in Illinois →

Where we lend in Peoria

We broker deals across the whole Peoria market. The submarkets investors ask us about most are North Peoria and Richwoods (61614 / 61615), East Bluff (61603), West Bluff and Bradley area (61604 / 61606), Uplands and Moss-Bradley (61604 / 61606), South Side (61605) and Averyville and Northmoor (61603 / 61614).

How long does a Peoria loan take to fund?

You send the address, purchase price, rehab budget and your ARV, which takes about five minutes and no credit pull. We take it to the lenders in our network that fit it and are licensed in Illinois, and the rate, origination, leverage and cash to close come back side by side. 5-14 days to fund. We stay on title and the lender through funding.

Peoria hard money FAQ

Do you lend hard money in Peoria?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Peoria scenario across a 400+ lender network and bring back real terms instead of one lender’s rate sheet. The programs on this page are the ones whose lenders are licensed in Illinois, and the numbers come from the same engine that prices our instant term sheet.
Which fix and flip programs apply in Peoria?
As of October 2026: Best Rate (15% down, from 8.99%); First Flip, 10% Down (10% down, from 9.99%); 7.5% Down, 3+ Flips (7.5% down, from 9.99%, 3+ completed flips); 5% Down, 5+ Flips (5% down, from 9.99%, 5+ completed flips); 100% Financing, 2+ Flips (100% financing when purchase plus rehab fits under 70% of ARV, from 9.50%, 2+ completed flips). Rehab is funded 100 percent in draws on every one of them, and we shop the file against the rest of the network before anything is signed.
How fast can a Peoria hard money loan close?
Most Peoria fix and flip files fund in 5-14 days once the file is complete. The First Flip, 10% Down program and the 7.5% Down, 3+ Flips program close in 21-30 days. The biggest delays are usually title issues or missing borrower documents, so getting those started early makes a big difference.
How much do I need to bring to close on a Peoria flip?
The worked example on this page is a $110,000 Peoria purchase with a $42,000 rehab and a $215,000 after repair value at 700 credit, first flip: $16,500 down (15% of the purchase) and $27,853 total cash to close, with $46,882 of proof of funds to show the lender. The lowest down payment for a first flip in Peoria is 10% down from 9.99% at 660+ credit. Investors with a track record can go to 0% down (100% financing) from 9.50% at 620+ credit with 2+ completed flips, when purchase plus rehab fits under 70% of ARV, and you still bring the closing costs in cash. Rehab is funded 100 percent through draws in every case. Run your own numbers in the calculator above, or send us the deal and we will price it.
Do you fund the rehab budget in Peoria?
Yes, 100 percent of the rehab is funded, but it is a holdback released in draws rather than cash at closing. You pay for each phase, request a draw, an inspector verifies the work, and the lender reimburses. That means you need working capital to float the first phase, which is the single most common thing new investors miss on their first deal.
What credit score do I need for a Peoria fix and flip loan?
The lowest credit floor among the Peoria programs is 620, on 100% financing (under 70% of ARV) with 2+ completed flips. A first flip needs 660 or higher. The lowest rate here, 8.99%, needs 760+ credit. Depending on the program, rates step down at 760 credit and origination steps down at 700 and 740. Credit matters less here than on a conventional loan because the deal carries the file, but it moves your rate and your leverage, so know where you stand before you make offers.
Can I refinance a Peoria flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way a Peoria flip becomes a hold. A DSCR loan qualifies on the property’s rental income rather than your W-2, so once the rehab is done and it is leased, you refinance out of the short-term hard money loan into 30-year financing. Worth deciding before you start, because it changes what finish level makes sense.
Can I flip a house on Peoria’s East Bluff or West Bluff?
Yes, but plan the exit carefully. Bluff houses are cheap to buy and often big, but the finished-house ceiling is low and many buyers there are landlords. A lot of bluff deals work better as a buy, renovate and rent plan, with a fix and flip loan up front and a DSCR refinance once it’s leased. Send us the address and both plans and we’ll price them side by side.
Does the Illinois River flood risk affect Peoria financing?
Only for houses in or near the flood zone, which is mostly the river valley and low areas along creeks. Up on the bluffs and in North Peoria it rarely comes up. For anything close to the water, we want the flood zone, the flood insurance quote and any history of water in the basement, because the next buyer’s lender will ask the same questions and the insurance premium affects what they can pay.
Micah Foster
Micah Foster
Founder & CEO, Capital Kings LLC
Micah brokers Non-QM and hard money loans for real estate investors across 38 states from his base in Texas. He founded Capital Kings to give investors a broker who shops the market on their behalf instead of pitching one lender product.

What to read before you sign a term sheet

Hard money near Peoria: Chicago, Rockford, St. Louis and Davenport. More Illinois city guides: Aurora, Joliet, Naperville and Springfield. Or see everything we fund in Illinois.

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