New Construction Loans in Chicago, IL
Is your construction project becoming a hassle because of financial woes? Fortunately, the team at Insula Capital Group is here to provide exceptional financing solutions. Our new construction loans can help you get the cash you need to purchase raw materials, get construction permits or hire skilled labor.
Find out more about our hard money new construction financing services in Chicago, IL.
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Hire Us to Get New Construction Loans in Chicago, IL
Need exceptional new construction loan deals in Chicago, IL? You’ve come to the right place!
We’re a reputable hard money lending company that offers top-of-the-line hard money new construction loans for clients in Chicago, IL. With our streamlined lending process, you can get the financing you need to build your dream home.
When it comes to getting the best interest rate, minimal paperwork, no junk fees, and quick approvals, Insula Capital Group is the place to turn. We offer a wide range of financing solutions to help our clients.
You can reach out to our team for more information.
Why Hard Money Loans Make More Sense for New Construction Projects
Imagine you’re a real estate developer who needs quick financing to acquire land and begin construction on a new housing development. If you choose traditional lending options, you’ll have to go through lengthy approval processes. On the other hand, a hard money loan could provide the necessary funds within days, allowing the developer to seize the opportunity and start the project without delay. Hard money loans are secured by the property being purchased rather than credit history.
If your credit score isn’t great, you’re still eligible for a hard money loan, provided you meet the much laxer conditions. While traditional loans offer very little legroom for changes, hard money loans are fairly flexible. Hard money lenders are often more willing to negotiate terms such as interest rates and repayment schedules compared to traditional banks. Essentially, borrowers are able to tailor the loan to their specific needs and financial situation.
Be Familiar with These Chicago Real Estate Figures
At Insula Capital Group, we advise our investors to do in-depth research to maximize the chances of their success. New construction projects require a lot of considerations beyond the typical overview of an area. To provide investors with some vital information, we’ve collected some essential numbers and facts that our readers should be aware of when looking into investing in Chicago’s real estate:
- Median Home Value:$299,790
- Median Home Value (1-Year Forecast):9%
- 1-Year Appreciation Rate:+10.4%
- Median Rent Price:$1,746
- Price-To-Rent Ratio:30
- Unemployment Rate:3%
- Population:2,693,976
- Median Household Income:$71,103
The Real Estate Landscape In Chicago, IL
2,693,976
Population
$1,746
Median Rent Price
$299,790
Median Home Value
+10.4%
1-Year Appreciation Rate
$71,103
Median Household Income
8.9%
Median Home Value (1-Year Forecast)
Just Funded Projects
June 2022
Fix & Flip
- Weiser, ID
Purchase Price
170,000
Renovation Budget
59,000
Loan Amount
207,000
After Repair Value
309,000
July 2022
Fix & Flip
- Washington, DC
Purchase Price
255,000
Renovation Budget
80,000
Loan Amount
296,750
After Repair Value
450,000
December 2021
Fix & Flip
- Centerreach, NY
Purchase Price
340,000
Renovation Budget
46,050
Loan Amount
321,300
After Repair Value
459,000
November 2021
Fix & Flip
- Hartford, CT
Purchase Price
149,000
Renovation Budget
70,000
Loan Amount
196,650
After Repair Value
290,000
November 2021
Fix & Flip
- Philidelphia, PA
Purchase Price
130,000
Renovation Budget
105,300
Loan Amount
209,300
After Repair Value
335,000
November 2021
Fix & Flip
- Philidelphia, PA
Purchase Price
62,000
Renovation Budget
60,000
Loan Amount
106,500
After Repair Value
176,000
November 2021
Fix & Flip
- North Babylon, NY
Purchase Price
310,000
Renovation Budget
32,750
Loan Amount
311,750
After Repair Value
495,000
November 2021
Fix & Flip
- East Hampton, NY
Purchase Price
1,250,000
Renovation Budget
577,465
Loan Amount
1,577,465
After Repair Value
2,487,500
November 2021
Fix & Flip
- Jersey City, NJ
Purchase Price
525,000
Renovation Budget
240,650
Loan Amount
848,800
After Repair Value
831,000
What we offer
All Loan Services
Fix And Flip Loans
Fix And Flip Loans
Ground Up Construction
Ground Up Construction
Rental Property Loans
Rental Property Loans
Multifamily / Mixed-Used Commercial
Multifamily / Mixed-Used Commercial
Thousands of Clients Trust Our Company
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The Viability of Chicago As an Investment Opportunity for New Constructions
Considering an area for new constructions can be tricky, and the region in question needs to show great promise in various categories. Chicago, IL, has a strong educational infrastructure, with over 280 public schools and numerous private institutions. The city is home to several prestigious universities, including the University of Chicago and Northwestern University. Not only do these bring students from out of state, but have helped shape the strong working class.
The working class of Chicago has helped to forge the city as a vital economic hub, hosting the headquarters of numerous Fortune 500 companies. The city’s economy is fairly diversified, including finance, technology, manufacturing, and transportation. Thanks to its strategic location and well-developed infrastructure, businesses and investors have found the area more appealing with time.
Chicago also offers access to world-class healthcare facilities, with renowned hospitals such as Northwestern Memorial Hospital and the University of Chicago Medical Center. The presence of leading healthcare institutions ensures quality medical services for residents and contributes to the city’s attractiveness as a place to live and work.
In terms of population dynamics, Chicago continues to draw people from across the country and around the globe. Despite occasional fluctuations, the city has maintained a relatively stable population over the years, which is reflected by the demand for housing.
Ready to apply for a fix & flip loan?
Frequently Asked Questions
To get new construction loan approval with Insula Capital Group, you must have completed a minimum of three successful construction projects as an experienced real estate investor, property developer, or homeowner. Our team will work closely with you to examine your eligibility and create a loan package that aligns with your financial goals.
Acquiring new construction loans can provide several advantageslike higher rental rates, betterproject control, and the capability to customize the property to meet emerging market demands. If you require more details about our new construction loans, consider visiting our just-funded project section.
Insula Capital Group is a trusted private hard money lender in Chicago, IL. Our team of professionals has extensive expertise in the real estate industry and we’re aware of the unique requirements of our clients. We offer minimal rates, favorable lending terms, and personalized loan packages.
Let Us Help You!
Want to get financial assistance for your construction project in Chicago, IL? Insula Capital Group has got your back!
We work closely with our clients as we guide them through the hard money lending process. Our team will ensure every step of this process is smooth and easy for you so your time can be spent focusing on various complex aspects of your construction project. With our thirty years of experience in the real estate industry, we can help you get new construction loan deals with excellent terms and no pre-payment penalties.
Get in touch with our team for more details about our new construction loans in Chicago, IL, or use our online full application form to kickstart the lending process.
