Hard Money Lenders in Aurora, IL | Fix & Flip | Capital Kings LLC
Capital Kings LLC · Non-QM Mortgage Broker

Hard Money Lenders inAurora, Illinois

Fix and flip, DSCR rental and new construction financing for Aurora investors. We do not lend our own money, we shop your deal across a 400+ lender network and come back with real terms you can compare on total cost.

Get a term sheet →Price an Aurora deal

Prefer to talk it through? Call or text Micah at (281) 636-5682.

Reviewed by Micah Foster, Founder & CEO, October 2026

Price an Aurora deal right now

Prefilled with a realistic Aurora deal. Change any number and it reprices on the programs that lend in Illinois, with the same math as our term sheets.

Sizing your flip on the same terms as the term sheet. Get a real term sheet →

Financing a deal in Aurora

Aurora is the second biggest city in Illinois, and it behaves like three towns stitched together. The old river city along the Fox has 1890s to 1950s frame and brick houses on both banks, the far east side is 1980s and 90s subdivisions spilling into DuPage County, and the southern edge keeps adding new builds toward Oswego. Most flips happen in the older core, where a dated ranch or a tired frame house can still be bought under what the finished version sells for. The Metra line to Union Station starts downtown, so a lot of buyers here commute into the Loop.

Aurora sits in four counties: Kane, DuPage, Will and Kendall. That sounds like trivia until you see the tax bills, because the county and the school district both change as you cross town. East Aurora District 131, West Aurora District 129, Indian Prairie 204 and Oswego 308 all serve parts of the city, and buyers shop by district before they shop by house. Two houses of the same size a few miles apart can carry very different annual taxes and very different resale prices. Pull the PIN, the county and the school district on day one, before you write the scope.

What an Aurora deal looks like on paper

Aurora example: $215,000 purchase, $65,000 rehab, $395,000 after repair value, 700 credit, first flip. The engine puts that borrower on the Best Rate program at 9.49%. Picture a 1950s brick ranch on the east side of the Fox River: tear-off roof, new furnace and AC, a kitchen, both baths, a panel upgrade and a sump pit dug into the basement. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$247,750
Cash to close$46,200
Proof of funds to show$75,506
Where the $46,200 goes
  • Down payment (15% of the purchase)You$32,250
  • Origination (0.5%)Lender$2,000
  • Lender fees (flat)Lender$1,989
  • Broker fee (1%)Broker$2,478
  • Title and closing (estimate at Texas rates)Title$3,560
  • Prepaid interest (15 days)Lender$713
  • Property insuranceInsurer$2,660
  • AppraisalAppraiser$550

Interest while you rehab: $1,445 a month on the $182,750 funded at closing, $1,959 once every draw is out. Proof of funds is cash to close plus $17,550 of rehab reserve and $11,756 of interest reserve. Sample borrower, sample address; the sheet is issued by the same engine as the borrower’s instant term sheet.

Fix and flip programs in Aurora

Swipe the table for rates, credit and terms →

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
Best Rate15% of purchase700+First flip OK8.99% to 9.49%0.5%70% of ARV12 months5-14 days
First Flip, 10% Down110% of purchase + rehab660+First flip OK9.99%2%75% of ARV12 months21-30 days
7.5% Down, 3+ Flips27.5% of purchase + rehab660+3+ completed flips9.99%1.5%75% of ARV12 months21-30 days
5% Down, 5+ Flips35% of purchase660+5+ completed flips9.99% to 10.99%2%75% of ARV9-24 months10-14 days
100% Financing, 2+ Flips40% (100% financing)620+2+ completed flips9.50% to 12.00%2.5%70% of ARV9 months7-14 days
  1. 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.
  2. 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.
  3. Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
  4. 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.

Origination has a $2,000 minimum on most programs (a few lenders set a higher one, noted above) and our broker fee is 1% with a $2,000 minimum and a $10,000 maximum. These are the numbers our term sheets use as of October 2026. Strong credit, cash and a track record can price lower through specific lenders in the network.

Where Aurora prices sit right now

Before we price an Aurora flip, we look at where sales in the city sit today. Your block can run well above or below these numbers, so treat them as the starting point, not the answer.

Redfin puts the Aurora median sale price at $357,000 for the three months ending September 2026, up 6.0% on a year earlier, with homes selling in around 54 days.

Median sale price, Aurora (Redfin, 3 months to Sep 2026)$357,000
Change from a year earlier (Redfin)+6.0%
Days on market, Aurora (Redfin)54

Sources: Redfin, Aurora housing market

How an Aurora file actually gets priced

Appraisers here lean on the school district and the side of the river first, then the house. We pull closed sales from the same district and the same side of the Fox, ideally inside the last 90 days, and we don’t let a Fox Valley subdivision comp carry a 1920s house near downtown. Taxes go in the cash to close as a proration, since Illinois bills a year in arrears and the seller credits the buyer at the table. On the east side, where the stock is older, we want the basement, the sewer line and the electrical looked at before the scope is final.

The Fox River and Indian Creek are the two water lines to check, and older east side basements take on water in a hard spring even away from the floodplain. Much of the core housing predates 1978, so expect lead paint on trim and windows. Aurora has several local historic districts, Riddle Highlands and the Near Eastside among them, which means exterior changes can need review by the city’s preservation commission before a permit issues. Radon runs high across northern Illinois, so test early and budget a fan. Closings in the Chicago suburbs usually have a real estate attorney on each side, so plan for your own attorney fee.

Who buys your finished Aurora deal

The finished Aurora house sells to a first-time buyer or a young family, often someone priced out of Naperville or the near western suburbs who still wants the Metra ride. On the east side that buyer is frequently using FHA, so the appraisal and the repair list matter. Finish to the school district and the block, not to the suburb next door. If the sale comes in soft, the older two-story houses near downtown rent well, which keeps a DSCR refinance on the table.

What happens after you apply

Apply once and the whole Aurora loan lives in the borrower portal: the term sheet you can accept and sign in the browser, where the loan stands, one place for documents, and the list of what the lender is still waiting on. These are real screens from the portal.

Capital Kings borrower portal: Welcome to your file
Welcome to your fileSign in and the term sheet is waiting, with every fee and who it goes to.
Capital Kings borrower portal: Where the loan stands
Where the loan standsApplication, appraisal, title, underwriting, clear to close.
Capital Kings borrower portal: Run the deal again
Run the deal againThe analyzer priced off your real numbers, before and after the appraisal.
Capital Kings borrower portal: What the lender still needs
What the lender still needsEvery open condition, what clears it, and who it is waiting on.

The full walkthrough is on how it works, and you can tour the borrower portal before you apply.

What we fund in Aurora

Fix and flip

10%down on a first flip
Rates
from 8.99% at 760+ credit
With experience
0% down with 2+ completed flips, purchase plus rehab under 70% of ARV
Rehab
100% funded, paid in draws
Fix and flip loans in Illinois →

Rental (DSCR)

7.00%rates from, 30-year fixed
Qualify on
the rent, no W-2s or tax returns
Down
from 20% at 700+ credit
Good for
buy-and-hold, and the refinance when a flip becomes a rental
DSCR loans in Illinois →

New construction

95%of cost with a financed interest reserve, after 1 completed build
Rates
from 8.49% with 5+ completed builds
First build
85% of cost with a GC who has 5+ builds
Builds
single family to small multifamily
New construction loans in Illinois →

Where we lend in Aurora

We broker deals across the whole Aurora market. The submarkets investors ask us about most are East side and the Near Eastside (60505), West side and Riddle Highlands (60506), Northeast Aurora and Fox Valley (60502 / 60504), Far east side, DuPage County (60504), Southeast Aurora toward Oswego (60503) and Downtown and Stolp Island (60505 / 60506).

How long does a Aurora loan take to fund?

You send the address, purchase price, rehab budget and your ARV, which takes about five minutes and no credit pull. We take it to the lenders in our network that fit it and are licensed in Illinois, and the rate, origination, leverage and cash to close come back side by side. 5-14 days to fund. We stay on title and the lender through funding.

Aurora hard money FAQ

Do you lend hard money in Aurora?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Aurora scenario across a 400+ lender network and bring back real terms instead of one lender’s rate sheet. The programs on this page are the ones whose lenders are licensed in Illinois, and the numbers come from the same engine that prices our instant term sheet.
Which fix and flip programs apply in Aurora?
As of October 2026: Best Rate (15% down, from 8.99%); First Flip, 10% Down (10% down, from 9.99%); 7.5% Down, 3+ Flips (7.5% down, from 9.99%, 3+ completed flips); 5% Down, 5+ Flips (5% down, from 9.99%, 5+ completed flips); 100% Financing, 2+ Flips (100% financing when purchase plus rehab fits under 70% of ARV, from 9.50%, 2+ completed flips). Rehab is funded 100 percent in draws on every one of them, and we shop the file against the rest of the network before anything is signed.
How fast can an Aurora hard money loan close?
Most Aurora fix and flip files fund in 5-14 days once the file is complete. The First Flip, 10% Down program and the 7.5% Down, 3+ Flips program close in 21-30 days. The biggest delays are usually title issues or missing borrower documents, so getting those started early makes a big difference.
How much do I need to bring to close on an Aurora flip?
The worked example on this page is a $215,000 Aurora purchase with a $65,000 rehab and a $395,000 after repair value at 700 credit, first flip: $32,250 down (15% of the purchase) and $46,200 total cash to close, with $75,506 of proof of funds to show the lender. The lowest down payment for a first flip in Aurora is 10% down from 9.99% at 660+ credit. Investors with a track record can go to 0% down (100% financing) from 9.50% at 620+ credit with 2+ completed flips, when purchase plus rehab fits under 70% of ARV, and you still bring the closing costs in cash. Rehab is funded 100 percent through draws in every case. Run your own numbers in the calculator above, or send us the deal and we will price it.
Do you fund the rehab budget in Aurora?
Yes, 100 percent of the rehab is funded, but it is a holdback released in draws rather than cash at closing. You pay for each phase, request a draw, an inspector verifies the work, and the lender reimburses. That means you need working capital to float the first phase, which is the single most common thing new investors miss on their first deal.
What credit score do I need for an Aurora fix and flip loan?
The lowest credit floor among the Aurora programs is 620, on 100% financing (under 70% of ARV) with 2+ completed flips. A first flip needs 660 or higher. The lowest rate here, 8.99%, needs 760+ credit. Depending on the program, rates step down at 760 credit and origination steps down at 700 and 740. Credit matters less here than on a conventional loan because the deal carries the file, but it moves your rate and your leverage, so know where you stand before you make offers.
Can I refinance an Aurora flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way an Aurora flip becomes a hold. A DSCR loan qualifies on the property’s rental income rather than your W-2, so once the rehab is done and it is leased, you refinance out of the short-term hard money loan into 30-year financing. Worth deciding before you start, because it changes what finish level makes sense.
Can I finance a first flip in Aurora?
Yes. In Illinois a first flip can be priced at 15% down with 700+ credit (from 8.99%) or 10% down with 660+ credit (from 9.99%). The calculator above already assumes a first deal. Aurora files tend to be larger than downstate ones, so the loan here clears the program minimums without stretching. Bring a contractor bid that covers the basement and mechanicals, since that’s where older Aurora houses surprise people.
Does it matter which Aurora school district a flip is in?
A lot. Buyers search by district, and the four districts that serve Aurora sell at different prices. Taxes shift with the district and the county too. We comp inside the same district so the ARV reflects what buyers there actually pay, and we’d rather you know that before you buy than after the appraisal.
Micah Foster
Micah Foster
Founder & CEO, Capital Kings LLC
Micah brokers Non-QM and hard money loans for real estate investors across 38 states from his base in Texas. He founded Capital Kings to give investors a broker who shops the market on their behalf instead of pitching one lender product.

What to read before you sign a term sheet

Hard money near Aurora: Naperville, Joliet and Chicago. More Illinois city guides: Peoria, Rockford and Springfield. Or see everything we fund in Illinois.

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