Bridge capital for flips. Longer-term structures for rentals. Education first—then a clear path to request terms.
This page explains common loan types Chicago flippers and landlords use. Chicago Fix & Flip partners with Jaken Finance Group so you can request a term sheet when you are ready. Nothing here is a commitment to lend, a rate lock, a guarantee of leverage, or a promise of closing speed.
Editorial standards: About & editorial team · Full hard-money deep dive: Hard money guide
Figures are typical market ranges for teaching—not Jaken quotes. Confirm every field on a live term sheet.
| Topic | Fix & flip / bridge (hard money style) | DSCR / rental hold |
|---|---|---|
| Primary use | Buy + rehab + sell or refinance | Hold after stabilization or buy rental |
| Typical term | About 6–18 months (program-specific) | Often 30-year fixed, ARM, or IO options |
| How lenders underwrite | As-is value, ARV, experience, LTC/LTV caps | Property cash flow (DSCR), LTV, reserves, credit |
| Payments (common pattern) | Interest-only during term | P&I or interest-only depending on product |
| Best for | Distressed stock, competitive closes, heavy rehab | BRRRR exit, turnkey rentals, portfolio growth |
| Cost character | Higher rate/points than long-term mortgages; price the all-in carry | Usually lower long-term cost than bridge if you hold |
| Next read | Hard money guide | Rent vs flip · 2–4 unit financing |
Short-term capital to acquire and renovate, then sell or refinance. Speed and flexible condition standards often matter more than 30-year payment sizing.
Longer-term financing for stabilized or stabilizing rentals. Qualification emphasizes property cash flow more than personal W-2 income—exact rules vary by program.
Need speed, renovation funding, and an exit plan. Prioritize bridge capital and a realistic ARV backed by renovated comps—not neighborhood averages alone.
Bridge into the deal, stabilize rents, then refinance to long-term debt. Underwrite the refinance as carefully as the purchase.
May go straight to rental/DSCR products when the property already qualifies. Multi-unit legality and cash flow still control leverage.
Experience requirements, credit floors, and liquidity vary by program. First-time investors are not automatically declined—or automatically approved. Lenders underwrite the full file.
Complete files get faster answers. Gather what you can before clicking through to Jaken:
Lenders may request tax returns, bank statements, insurance binders, or additional items after initial review. Lists above are educational starting points.
Teaching examples only. Your numbers will differ.
Purchase: $200,000 (illustrative).
Rehab: $100,000 scope.
Structure concept: lender funds a high percentage of purchase and rehab subject to LTC/ARV caps and experience.
Exit: sell or refinance; model interest, taxes, insurance, selling costs, and winter carry.
After rehab: appraisal and rents support a cash-out refinance within program LTV.
Goal: recover capital and hold for cash flow.
Keys: legal units, market rents, tax reassessment risk, and DSCR after refi.
No. We publish education and connect interested readers to Jaken Finance Group for term sheets. Approval is not guaranteed.
No. Rates, points, leverage, and fees change with market conditions, experience, credit, and property risk. Request a current quote for your deal.
Underwriting concepts are similar; permit, tax, and housing stock details differ. See our suburb guides and neighborhood guides for market context—not as loan commitments.
Have your address, budget, and exit plan ready. Apply or request terms with Jaken Finance Group.
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