Capital Kings LLC · Broker, not a lenderFix and Flip Loans
in Illinois
$40,000 of rehab, $300,000 after repair value, a first flip at 700 credit on the First Flip, 10% Down program.
- Loan
- $216,000
- Rate
- 9.99%
- Down payment (10% of purchase plus rehab)
- $24,000
Purchase plus 100% of the rehab budget for Illinois flips, funded through draws, with a term sheet before you commit. First flips welcome from 660 credit, 0% down once you have 2 completed flips and the deal fits under 70% of ARV. We broker Chicago, Aurora, Naperville and every county in between.
Prefer to talk it through? Call or text Micah at (281) 636-5682.
What are fix and flip loan terms in Illinois right now?
These are the terms on the programs we are quoting right now. Your actual terms depend on the property, your credit and your experience, and the term sheet shows the real numbers before you commit.
- Rates from
- 8.99%
- Down on a first flip (of purchase + rehab); 0% with 2+ completed flips under 70% of ARV
- 10%
- Rehab funded via draws
- 100%
- Max loan
- 75% ARV
- Interest-only term, by program
- 9-24 mo
- To fund, by program
- 5-30 days
Illinois fix and flip terms as of October 2026
These use the same math as our term sheets. Final terms depend on the property, your credit and experience, and what the lender approves. Read the full fix and flip guide for how the program works deal by deal.
Purchase plus 100% of the rehab budget, funded through draws. The program you land on depends on credit and how many flips you have completed.
Lowest rate on a first flip
- Program
- Best Rate
- Down payment
- 15%
- Min credit
- 700+
- Experience
- First flip OK
- Rate
- 8.99% to 9.49%
- Max loan
- 70% of ARV
- Close
- 5-14 days
Least down on a first flip
- Program
- First Flip, 10% Down
- Down payment
- 10%
- Min credit
- 660+
- Experience
- First flip OK
- Rate
- 9.99%
- Max loan
- 75% of ARV
- Close
- 21-30 days
Least down with completed flips
- Program
- 100% Financing, 2+ Flips
- Down payment
- 0% (100% financing)
- Min credit
- 620+
- Experience
- 2+ completed flips
- Rate
- 9.50% to 12.00%
- Max loan
- 70% of ARV
- Close
- 7-14 days
See all 5 programs
| Program | Down payment | Min credit | Experience | Rate | Origination | Max loan | Term | Close |
|---|---|---|---|---|---|---|---|---|
| Best Rate | 15% of purchase | 700+ | First flip OK | 8.99% to 9.49% | 0.5% | 70% of ARV | 12 months | 5-14 days |
| First Flip, 10% Down1 | 10% of purchase + rehab | 660+ | First flip OK | 9.99% | 2% to 2.25% | 75% of ARV | 12 months | 21-30 days |
| 7.5% Down, 3+ Flips2 | 7.5% of purchase + rehab | 660+ | 3+ completed flips | 9.99% | 1.5% to 1.75% | 75% of ARV | 12 months | 21-30 days |
| 5% Down, 5+ Flips3 | 5% of purchase | 660+ | 5+ completed flips | 9.99% to 10.99% | 2% | 75% of ARV | 9-24 months | 10-14 days |
| 100% Financing, 2+ Flips4 | 0% (100% financing) | 620+ | 2+ completed flips | 9.50% to 12.00% | 2.5% | 70% of ARV | 9 months | 7-14 days |
Program notes (4)
- 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.
- 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.
- 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% with 2% to 3% origination, set per file. Purchase plus rehab must fit under 70% of ARV.
First flip in Chicago, 700 credit, lowest rate
- Loan amount
- $210,000
- Down payment (15% of purchase)
- $30,000
- Rate
- 9.49%
- Origination (0.5%, $2,000 minimum)
- $2,000
- Broker fee
- $2,100
- Lender fees
- $1,989
- Title, insurance, appraisal, prepaid interest
- $6,866
- Estimated cash to close
- $42,955
- Cash the lender wants to see in the bank
- $64,920
- Interest per month while you rehab
- $1,344
First flip in Chicago, 700 credit, least cash to close
- Loan amount
- $216,000
- Down payment (10% of purchase plus rehab)
- $24,000
- Rate
- 9.99%
- Origination (2.125%)
- $4,590
- Broker fee
- $2,160
- Lender fees
- $2,790
- Title, insurance, appraisal, prepaid interest
- $6,956
- Estimated cash to close
- $40,496
- Cash the lender wants to see in the bank
- $63,285
- Interest per month while you rehab
- $1,465
Sized to the Illinois market: the typical Illinois home is worth about $297,573 and a starter home about $155,904 (Zillow Home Value Index, August 2026). Single family homes sold in a median of 42 days with 2.6 months of supply (Redfin, May 2026). So the example buys at about two thirds of the typical value, budgets a mid-range rehab and resells at the typical value.
Estimates on Capital Kings terms as of October 2026. Cash to close includes down payment, origination, broker fee, the lender's own fees (processing, underwriting, legal or doc prep), title, prepaid interest, insurance and appraisal. Rehab is funded 100% through draws on every program, but draws pay you back after each phase is done, so the lender also wants to see enough in the bank to front the first phase and cover a few months of payments. That is the bank figure on each card, and it is not money you spend at closing. Title is estimated from Texas title rates; your Illinois title company quotes the real number.
What do you need to apply in Illinois?
- Purchase contract
- Rehab budget or scope of work
- Two months of bank statements showing the cash to close
- Government ID
- LLC documents if you are closing in an entity
How long does a fix and flip loan take in Illinois?
Send the deal by text or through the application: address, purchase price, rehab budget, ARV and your credit range. We take it to the lenders that fund Illinois flips at your credit and experience, and you get a term sheet with every fee before you commit. The fastest programs fund in 5-14 days once the file is complete, and the rest take up to 30 days. Rehab money is released in draws as each stage is inspected.
Illinois, city by city
The Illinois markets we fund most. Not on the map? We broker every county in the state, so send the deal and we place it.
What do common deals cost to close?
Each question has its own page with the worked example line by line and the sample term sheet. The figure is the answer on that page.
Questions about loans in Illinois
How much down payment do I need for a fix and flip loan in Illinois?
What credit score do I need for an Illinois fix and flip loan?
How much cash do I need to close a $200,000 flip in Illinois?
Does the loan cover the rehab budget?
How fast can an Illinois fix and flip loan close?
Is Capital Kings a direct lender in Illinois?
What else do we fund in Illinois?
How do these loans actually work?
These guides use Texas deals for their examples, but the way the loans work, what lenders check and how to compare offers is the same on an Illinois deal.
Ready to fund your Illinois deal?
Text us the deal or send it through the application. We run it past the lenders that fit and send back a term sheet on your actual numbers, no full application needed to get started.