Broker, not a lenderHard Money Lenders inSpringfield, Illinois
Fix and flip, DSCR rental and new construction financing for Springfield 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 Springfield deal right now
Prefilled with a realistic Springfield 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 Springfield
Springfield is the state capital, and state government is the anchor of its housing market. A large state workforce, plus the hospitals and the medical school, keep a steady stream of buyers looking for solid older houses at moderate prices. The core is full of 1900s to 1930s foursquares, bungalows and brick two-stories, with ranches and newer subdivisions to the west. Homes here are moving very quickly right now, which shortens the carry on a well-priced flip.
Speed is what decides a Springfield deal. Finished houses are going under contract in days, so retail buyers aren’t the bottleneck; supply is. The discount has to come at the buy, from an estate, an absentee owner or a house with a roof and a mechanical system nobody wants to finance. Washington Park and the west side carry the cleanest owner-occupant comps. Enos Park and the near north side are cheaper with more upside and more risk, and buyers there are a mix of owner-occupants and landlords.
What a Springfield deal looks like on paper
Springfield example: $125,000 purchase, $50,000 rehab, $245,000 after repair value, 730 credit, first flip. The engine puts that borrower on the Best Rate program at 9.49%. Picture a roomy 1920s foursquare near Washington Park, bigger than the typical Springfield house so the loan clears the program floor: roof, boiler or furnace, a kitchen, two baths, rewiring and paint inside and out. 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$18,750
- 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$3,108
- Prepaid interest (15 days)Lender$609
- Property insuranceInsurer$1,663
- AppraisalAppraiser$550
Interest while you rehab: $840 a month on the $106,250 funded at closing, $1,236 once every draw is out. Proof of funds is cash to close plus $13,500 of rehab reserve and $7,414 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 Springfield
| 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 Springfield prices sit right now
Before we price a Springfield 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 Springfield median sale price at $195,000 for the three months ending September 2026, up 1.4% on a year earlier, with homes selling in around 6 days.
| Median sale price, Springfield (Redfin, 3 months to Sep 2026) | $195,000 |
| Change from a year earlier (Redfin) | +1.4% |
| Days on market, Springfield (Redfin) | 6 |
Sources: Redfin, Springfield housing market
How a Springfield file actually gets priced
Sangamon County values move street by street around Washington Park, Enos Park and Harvard Park, so we set the ARV on renovated sales close by from the last 90 days. A west side subdivision comp won’t support a near north side two-story. Because the typical Springfield sale is modest, a first flip often needs a bigger house or a bigger scope for the loan to reach the program’s minimum size; the example here is built that way. Illinois taxes are paid in arrears, so the seller credit at closing shows up in your cash to close.
This part of Illinois was mined for coal, and some older neighborhoods sit over abandoned workings; Illinois runs a state mine subsidence insurance fund for that reason, so stair-step foundation cracks get a closer look here than elsewhere. Spring Creek, Sugar Creek and the Sangamon River are the flood lines to check. Two tornadoes hit the city in March 2006, and storm-damaged roofs are a recurring line item. Pre-1978 houses bring lead paint, and older homes may have lead water service lines. Electric and water come from City Water, Light and Power, the city-owned utility.
Who buys your finished Springfield deal
The finished Springfield house sells to a state employee, a nurse or resident at Memorial or St. John’s, a medical school staffer, or a young family moving up from a rental. Many use FHA or conventional financing with a careful inspection, so a clean, dry, well-wired house sells fastest. The price ceiling is set by the neighborhood, and the fast market rewards pricing right on day one rather than testing a high list price. On the near north side, where rent is strong relative to price, a DSCR refinance is a real alternative to selling.
Your whole loan, in one portal
Apply once and the whole Springfield 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 Springfield
Fix & Flip
Purchase plus 100% of rehab, released in draws. The core product in Springfield.
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 Springfield
We broker deals across the whole Springfield 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.
Springfield hard money FAQ
Do you lend hard money in Springfield?
Which fix and flip programs apply in Springfield?
How fast can a Springfield hard money loan close?
How much do I need to bring to close on a Springfield flip?
Do you fund the rehab budget in Springfield?
What credit score do I need for a Springfield fix and flip loan?
Can I refinance a Springfield flip into a rental loan?
Is Springfield a good first flip market?
Should I worry about mine subsidence on a Springfield flip?
Before you sign anything
Ready to fund your Springfield deal?
Submit your scenario in under 3 minutes. We shop it and come back with real terms, not a generic rate sheet.