DSCR Loans in Cook County, Illinois
Reviewed by Dominick Prevete, Founder & CEO, National Loan Provider31+ years in real estate finance
LinkedIn35 closed transactionsNLPI LLC, NJ entity ID 0451062247 (verify on the NJ business search)
In 2025 HMDA data, 360 lenders made 7,688 investment-property loans in Cook County, 40.4% of Illinois's total. Dominick Prevete arranges DSCR loans across Cook County, Illinois, qualified on the property's rent, not your tax returns. DSCR rental loans start from 7.25% (November 2026), and most close in 14 days. At HUD's fair market rent, a three-bedroom rental there covers its full payment up to a price of about $345,000.
Cook County investor market at a glance
| Statistic | Cook County | Illinois | County rank |
|---|---|---|---|
| Investor loans | 7,688 | 19,010 | 1st of 20 |
| Reporting lenders | 360 | 610 | 1st of 20 |
| Loan volume | $2.34B | $5.59B | 1st of 20 |
| Average loan | $304K | $294K | 2nd of 20 |
| Median loan | $225K | $175K | 2nd of 20 |
| Purchases | 56.4% | 61.9% | 20th of 20 |
| Cash-out refinances | 25.9% | 18.5% | 2nd of 20 |
| 2–4 unit properties | 30.4% | 22.4% | 3rd of 20 |
| Top five lenders' share | 27.7% | 20.7% | 19th of 20 |
| Reported business-purpose | 77.1% | 68.0% | 3rd of 20 |
Cook County: closed-end loans on 1–4 unit investment properties. Cook County's rank is highest first, among Illinois's counties with at least 100 investor loans and 25 reporting lenders. Shares are of Cook County's investor loans.
What stands out in Cook County
56.4% of Cook County's investor loans were purchases, the lowest share of Illinois's 20 counties with published data (statewide: 61.9%).
Refinances are a larger share here than in most of Illinois. A DSCR refinance qualifies on the property's current rent.
25.9% of Cook County's investor loans were cash-out refinances, the 2nd-highest share of Illinois's 20 counties with published data (statewide: 18.5%).
On the DSCR cash-out refinances Dominick arranges, cash-out can close with no seasoning.
The median investor loan in Cook County was $225K, the 2nd-highest median of Illinois's 20 counties with published data (statewide: $175K).
Loans here run large. Dominick arranges DSCR loans from $75,000 up through jumbo balances.
Does a DSCR loan pencil in Cook County?
At HUD's fair market rent of $2,586 for a 3-bedroom in Cook County, Illinois, a rental covers its full DSCR payment up to a purchase price of about $345,000, with 20% down at the 7.25% starting rate (November 2026). Cook County's median home value is $324,500; at that price the payment is $2,422 a month, so the property would need $2,425 in rent to cover it.
At that price, the rent covers the full payment, which is the test a standard DSCR loan qualifies on.
| HUD fair market rent, 2 / 3 / 4 bedroom (FY2027) | $2,011 / $2,586 / $2,954 |
|---|---|
| Median home value (2020–2024 ACS 5-year) | $324,500 |
| Median property taxes and effective rate | $6,191 (1.91% of value) |
| Monthly payment on the median-value home: P&I, taxes, insurance | $2,422 |
| Rent needed to cover that payment | $2,425 |
| Coverage of a 3-bedroom at fair market rent | 1.07 |
| Highest price a 3-bedroom at fair market rent covers | about $345,000 |
| Highest price two 2-bedroom units at fair market rent cover | about $535,000 |
Fair market rent is HUD's 40th-percentile gross rent, including utilities; a property's appraised market rent can be higher or lower. Payment uses 20% down, a 30-year amortization at the published DSCR starting rate, the county's median effective property-tax rate and insurance at 0.50% of value. Purchase leverage goes up to 85% on qualifying files. This is an illustration, not a term sheet or an offer of credit.
Price your actual deal →Run Cook County's numbers in the calculator below →
Who are the DSCR and investment-property lenders in Cook County?
The most active investment-property lenders in Cook County in 2025 HMDA data were Loan Funder LLC; UNITED SHORE FINANCIAL SERVICES, LLC; and RF RENOVO MANAGEMENT COMPANY, LLC, out of 360 lenders that reported. HMDA doesn't flag which loans were DSCR loans, so this list mixes DSCR and conventional investment-property lenders. Dominick Prevete places DSCR loans across 100+ lenders, including several that reported in Cook County, and matches each file to the one most likely to fund it.
Cook County's 2025 HMDA filings, closed-end loans on 1–4 unit investment properties only: 7,688 loans and $2.34B from 360 lenders. Loan Funder LLC led Cook County with 778 loans, 10.1% of the county's total, and the average Cook County loan of $304K compares with $294K across Illinois.
| Lender | Loans | Volume | Avg loan | Purchase share |
|---|---|---|---|---|
| Loan Funder LLC | 778 | $195.6M | $251K | 50.3% |
| UNITED SHORE FINANCIAL SERVICES, LLC | 441 | $103.2M | $234K | 55.6% |
| RF RENOVO MANAGEMENT COMPANY, LLC | 337 | $121.5M | $361K | 56.7% |
| THE LOAN STORE, INC. | 301 | $78.7M | $261K | 68.1% |
| GUARANTEED RATE, INC. | 271 | $91.0M | $336K | 70.1% |
| BPL MORTGAGE TRUST, LLC | 228 | $48.9M | $214K | 46.1% |
| Kiavi Funding, Inc. | 227 | $54.9M | $242K | 77.5% |
| CROSSCOUNTRY MORTGAGE, INC. | 196 | $62.6M | $320K | 67.9% |
| JPMorgan Chase Bank, National Association | 196 | $61.0M | $311K | 57.1% |
| Rocket Mortgage, LLC | 184 | $37.4M | $203K | 46.7% |
| VELOCITY COMMERCIAL CAPITAL, LLC | 177 | $41.6M | $235K | 17.5% |
| OCMBC, INC. | 115 | $34.4M | $299K | 50.4% |
| CV3 FINANCIAL SERVICES, LLC | 115 | $31.8M | $277K | 78.3% |
| HOMEXPRESS MORTGAGE CORP. | 106 | $29.1M | $275K | 19.8% |
| Fairway Independent Mortgage Corporation | 102 | $29.9M | $294K | 76.5% |
| Barrington Bank & Trust Company, National Association | 98 | $29.7M | $303K | 57.1% |
| CHAMPIONS FUNDING, LLC | 97 | $35.5M | $366K | 46.4% |
| Republic Bank of Chicago | 86 | $14.4M | $168K | 98.8% |
| DEEPHAVEN MORTGAGE LLC | 79 | $20.2M | $256K | 39.2% |
| NEXERA HOLDING LLC | 75 | $24.4M | $326K | 48.0% |
| AMWEST FUNDING CORP. | 71 | $18.1M | $255K | 62.0% |
| PENNYMAC LOAN SERVICES, LLC | 69 | $26.3M | $381K | 63.8% |
| U.S. Bank National Association | 68 | $19.9M | $293K | 64.7% |
| Loandepot.Com, LLC | 67 | $19.3M | $288K | 56.7% |
| Hometown Equity Mortgage, LLC | 66 | $21.1M | $320K | 34.8% |
388 Illinois loans (2%) carry no county code in HMDA, so county figures sum to less than the state total.
Source for Cook County: 2025 HMDA loan-level data from the CFPB/FFIEC Data Browser, retrieved October 31, 2026. How this data is built · Cook County CSV, all 25 lenders
What Cook County's table can't show you: fit. Short-term financing is exempt from HMDA, so Cook County's fix-and-flip and bridge lenders barely appear among its 360 filers, and none of the 25 names above tells you whose guidelines match your deal, your entity, or your timeline. That's the job. Dominick Prevete structures your file and places it across 100+ lenders — including several on this list — so it lands with the one most likely to fund it.
Price your loan →National Loan Provider is an independent broker and maintains wholesale relationships with some listed lenders. Appearing in this table is not an endorsement or a recommendation.
Run the coverage test on your Cook County, Illinois deal
Rent divided by the full monthly payment is the number a DSCR loan qualifies on. Enter a Cook County, Illinois property's rent, loan, taxes and insurance to see where it lands.
Principal and interest on a thirty-year amortization, plus taxes, insurance and HOA.
Enter the rent, loan amount, rate, taxes and insurance to see the coverage ratio.
Sources
- CFPB / FFIEC HMDA Data Browser — Cook County's at-a-glance figures, its observations, its 25-lender table and the Quick Read's 360 lenders and 7,688 loans: 2025 HMDA loan-level data rolled up to Cook County.
- Cook County investor-lender dataset (CSV) — All 25 lenders in the Cook County, Illinois table, ranked by loan count, with volume, average loan and purchase share for each.
- HUD FY2027 Fair Market Rents — Cook County's 2-, 3- and 4-bedroom fair market rents in the rent math, and the 3-bedroom rent its highest-price figure uses: HUD's FY2027 figures for the Chicago-Joliet-Naperville, IL HUD Metro FMR Area.
- Census ACS 2020–2024 5-year, tables B25077 and B25103 — Cook County's median home value (B25077) and median property taxes paid (B25103) in the rent math, from the Census 2020–2024 ACS 5-year summary files.
- DSCR loan rates, Dominick Prevete — DSCR rental loans start from 7.25%, as of November 2026: the Instant Term Sheet's best-case scenario on the current rate sheets.