Overview
Renovo Financial is the largest Chicago-based hard money lender. Founded 2011, they've closed thousands of loans across the Midwest and have particularly deep penetration in Chicago, Indianapolis, and Milwaukee. Strong relationships with the local broker community make them a default first-call for many Chicago investors.
Renovo Financial is based in Chicago, IL and was founded in 2011. They operate in Chicago / national and offer fix-and-flip, BRRRR, new-construction, bridge, rental, multi-family financing. Their loan amount range runs from $100K to $5.0M.
Key terms at a glance
| Loan type | Hard money / non-QM institutional |
|---|---|
| Products | fix-and-flip, BRRRR, new-construction, bridge, rental, multi-family |
| Geographic coverage | Chicago / national |
| Loan size | $100K – $5.0M |
| Interest rate range | 9.5% – 12.5% |
| Origination points | 1 – 3 |
| Max LTV | 85% of ARV |
| Max LTC | 90% of cost |
| Term lengths | 6-24 months (hard money) / 30-year (rental) |
| Typical close time | 7-14 days typical |
Strengths
- Chicago-based — strongest local market knowledge
- experienced underwriting team
- national reach with local depth
- strong fix-and-flip program
Ideal borrower
Experienced Chicago-area investor doing 2+ deals/year on SFR or 2-4 unit projects
How Renovo Financial compares for Chicago investors
For Chicago metro investors specifically, Renovo Financial has direct local presence and deep knowledge of Chicago neighborhood dynamics. As an institutional non-QM lender, their underwriting is templated and predictable — fast for experienced borrowers, less flexible for non-standard deals.
Common alternatives in Chicago
- Renovo Financial — Chicago-based, deepest local knowledge
- Kiavi — Tech-forward national leader
- Lima One Capital — Broad product suite, BRRRR-friendly
- Easy Street Capital — STR-DSCR specialist
Renovo Financial FAQ
Yes — Renovo Financial is based in Chicago, IL and serves Chicago / national.
Renovo Financial's indicative rate range is 9.5%–12.5% with 1–3 points. Pricing depends primarily on funded-deals history, deal leverage, and exit certainty.
Renovo Financial's typical minimum loan is $100K, with maximum loan size up to $5.0M.
Renovo Financial's typical close timeline is 7-14 days typical. Fast-close depends on documentation quality, title clarity, and underwriting load.
Renovo Financial offers fix-and-flip, BRRRR, new-construction, bridge, rental, multi-family financing. They also do DSCR rental refinance, which makes them a one-stop shop for BRRRR strategies.
Experienced Chicago-area investor doing 2+ deals/year on SFR or 2-4 unit projects
This review is an independent directory listing. Hard Money Chicago is not affiliated with Renovo Financial. Rates, terms, and eligibility are determined by the lender and subject to change. Always verify current pricing directly with the lender before relying on any specifics.