Disclaimer: Rate data is updated weekly. Last updated: April 14, 2026. Rates change daily — always contact lenders directly for a current quote. DSCRFinder.com does not guarantee rate accuracy from third-party lenders.
DSCR Loan Rates in Illinois — April 2026
Illinois is a complex DSCR market dominated by Chicago, which has some of the highest property taxes in the US and a moderately tenant-friendly regulatory environment. However, Chicago's sheer size, diverse economy, and strong rental demand make it an important market. Downstate Illinois markets offer high yields but face long-term population decline.
As of April 14, 2026, the national 30-year fixed rate for primary residences is 6.40% (Bankrate). DSCR loans in Illinois typically run 7.15% to 8.75%.
April 2026 Illinois DSCR Rate Table
| Borrower Profile | DSCR | FICO | Down Payment | Rate Range | |---|---|---|---|---| | Best-qualified | 1.25+ | 740+ | 30%+ | 7.15% – 7.50% | | Strong | 1.25+ | 720–739 | 25% | 7.50% – 7.75% | | Standard | 1.0–1.24 | 680–719 | 20–25% | 7.75% – 8.25% | | Moderate | 0.75–0.99 | 660–679 | 20% | 8.25% – 8.50% | | Challenging | Below 0.75 | Below 660 | 20% | 8.50% – 8.75%+ |
Illinois DSCR Market by City
Chicago
Chicago offers strong rental demand from a large renter population (over 55% of Chicago households rent). However, Cook County property taxes averaging 2.0%–2.5% of assessed value are a major drag on DSCR. Factor taxes carefully — a $350,000 Chicago 2-flat with $2,400/month combined rent may produce a DSCR closer to 0.90–1.05 after taxes.
Chicago's Northwest and Southwest suburban corridors (Oak Park, Evanston, Naperville) offer better DSCR profiles than the city itself due to lower purchase prices and stable rental demand.
Rockford
Rockford offers high yields — purchase prices in the $100,000–$180,000 range with rents of $900–$1,300 produce DSCR ratios of 1.15–1.45. However, Rockford has faced long-term economic challenges; vacancy risk is higher than in Chicago.
Illinois Market Fundamentals
| Market | Median Price (SFR) | Typical Monthly Rent | Est. DSCR | |---|---|---|---| | Chicago (city) | $280,000 – $400,000 | $1,800 – $2,600 | 0.90 – 1.10 | | Chicago suburbs | $280,000 – $420,000 | $1,800 – $2,600 | 0.95 – 1.15 | | Rockford | $100,000 – $180,000 | $900 – $1,300 | 1.15 – 1.45 |
The Illinois Property Tax Warning
Illinois has some of the highest property taxes in the US, averaging 2.07% of assessed value (second only to New Jersey nationally). This is the single biggest factor reducing DSCR ratios for Illinois investment properties.
Always verify the specific property tax bill — not just the rate — before underwriting an Illinois deal. Property tax appeals are common in Cook County.
Illinois Landlord-Tenant Law
- Chicago Residential Landlord and Tenant Ordinance (RLTO) — requires specific lease provisions, security deposit rules, and just cause for eviction
- Eviction process — 5-day notice for non-payment; Chicago courts are slow; process can take 2–4 months
- Cook County eviction moratorium history — Cook County has been more willing to impose eviction moratoriums during emergencies than other jurisdictions
- Suburbs — faster eviction process outside Cook County
How to Get the Best DSCR Rate in Illinois
- Always model property taxes at 2.0%–2.5% before underwriting Chicago deals
- Chicago suburbs often produce better DSCR ratios than the city due to lower prices and comparable rents
- High taxes mean you'll need stronger rents to achieve 1.25+ DSCR — target 2-4 unit properties for better income
- Rockford offers yield but with higher vacancy risk — underwrite conservatively
Related: Current DSCR Rates April 2026 | DSCR Rates by State | DSCR Loans for Multifamily | Compare Lenders
Ready to Apply for a DSCR Loan?
Get matched with lenders that accept your DSCR ratio and investment profile — free, no obligation.