Providing developers, builders, and investors with a solid foundation for ground-up construction projects.
Kick A$$ Real Estate Loans by Investors for Investors
New Construction
Acquisition, development, and construction for real estate investors of any size who want to build a property to sell.
- Rates as low as 9.99%
- 1-30 units
- Up to 82.5% LTC or 70% LTARV (whichever is less)
- Up to 80% LTV
- 100% construction financing
- Loans up to $10M
Build to Rent
Acquisition, development, construction, and long-term rental loans for investors building properties for short or long-term rentals.
- Rates as low as 9.99% (build) and 7% (rental)
- Up to 90% LTC on project
- Up to 80% LTV on purchase
- 100% construction financing
- Loans up to $10M
- Single and multifamily, mixed-use
New Construction: Fast, Creative, High Leverage, Reliable Funds
Our New Construction Loans are for investors, builders, and developers who need lightning-fast, know-you’ve-got-it capital, to lock down deals in today’s hottest markets.
As investors ourselves, we know how to get your deal the high leverage, rate flexibility, and creative structuring it takes to get your construction project funded and built. If you are looking for a solid, fast, flexible, and reliable construction lending partner who knows your business, who has your back, and who you can trust enough that you can sleep at night, there’s no question that we’re your lending team!
Build to Rent
Build to Rent investors have plenty of moving parts, without trying to maneuver between lenders for construction loan approval and then a rental loan. That’s why we make it possible to finance your complete project simply and seamlessly—from breaking ground to handing off the keys to your first renter.
Build to Rent projects often need flexible structuring to get moving. As both lenders and investors, this is what we do! That’s why we can often find fast solutions to other lending challenges, that other lenders cannot, or will not.
What makes us different? Just ask our clients
What Can Our Construction Loans Do For You?
Quicker loans = quicker deals = fewer deals lost
Greater leverage = less $ out of pocket = more deals
Reliable funds = confidence at closing
No hidden fees = no surprises
We give you full service loan capabilities, from initial offer to the exit, creative structuring, speed, transparency, expertise, and a personalized capital partnership that you are just not going to find anywhere else!
Just like you, we’re hustle and grit, not suit and tie!
CONSTRUCTION LOAN: FAQS
- General Let's start off with the basics
- Rates and Terms All the facts and figures to get you going
- Financing Your Project Lots of info you'll want to know
What loan programs does i Fund Cities offer?
Click on specific loan type for helpful info.
What property types does iFC offer loans for?
- Single Family Residential
- Townhomes
- Condos
- Multifamily (5 or more units)
- SFR Portfolio Rentals (up to 200 Units)
Can you finance properties that will be used for short-term rentals?
We are currently not financing commercial-mixed-use properties).
Are there any exceptions to property types for financing?
We do not fund properties that are designated as “rural.”
Can you finance commercial retail?
Yes – if 50% of the building is residential.
Can I do a 30-year mortgage purchase?
Yes, if it’s rented and the borrower’s credit score is above a 660.
What states does iFC lend in?
We lend in all 50 states except for California, New York, and Nevada.
Can I borrow from iFC if I am from another country?
iFC can provide loans to both U.S. Citizens and Foreign Nationals.
Can I (or a friend or family member) live in my property funded with an iFC loan?
As the borrower, you are not able to live in the property. However, a family member can occupy your iFC funded property.
What are your rates?
Our rates vary by loan type. (See the appropriate loan page on our website for current rates.) Quick tip: do not believe the low-rate marketing gimmicks you see out there in the lending world. The following criteria always determine rates:
- Loan type
- Real estate asset
- Investor experience
- Investor credit score
- Investor liquidity
- Deal Profitability
How do I get my rates down?
- Execute, execute, execute. The more successful projects you do, the lower your rate will be.
- Have a good credit history and score or bring in someone to back you who does.
- Educate us, the lender, on future projects, goals, and growth plans.
- Build a trusting partnership with your lender with your loyalty.
How many points do you charge?
Points range from 1%-4% based on the following:
- Real estate asset
- Investor experience
- Investor credit score
- Investor liquidity
What are your other fees?
- For your first deal, we charge a one-time application fee of $200
- Legal document: $1850
- Appraisal: market rate, paid directly by the borrower
- Draw inspections $250
What is your leverage?
Leverage depends on the loan type, and is based on the real estate asset, as well as investor experience, credit score, and liquidity.
Does iFC have minimum and maximum loan amounts?
Yes, depending on the loan type, our minimum loan amount is $75K and our maximum loan amount is $10M.
Do you do loans for both a property purchase and the repairs?
Yes. For certain types of loans, we can lend up to 80% of the purchase price of the asset and 100% of the construction financing. (Give us a call for the specifics on your desired loan type.)
Is there a prepayment penalty?
Yes … and no. Some of our loan types do have prepayment penalties, but others do not. Give us a call and we are happy to discuss this with you!
What length of loan terms does i Fund Cities offer?
iFC’s loan terms vary depending on the type of investment loan needed. Generally, we offer 6 to 24 month short-term loans, and 30 year fixed, and 5/1, 7/1 and 10/1 fixed/adjustable, 30-year fixed.
What is your seasoning for a cash-out refi?
If the borrower owns the property for over 6 months, we can use the current appraised value. If the property is owned for less than 6 months, we use the purchase price of the property.
Do I need a business entity to get an iFC loan?
Yes, you will need to have an LLC, a Limited Partnership, a General Partnership, a Corporation, or a Trust.
Does iFC have a minimum credit score for funding?
Yes. We require a minimum FICO score of 660, depending on the loan type.
What documents do you need from me for underwriting loans?
Our underwriting process is less extensive than a traditional bank. We also make it as transparent and straightforward as possible. The exact documents we need will depend on the loan type you apply for. We generally ask for the following:
- Contact info for Buyer (and Guarantors), and your title and insurance companies
- Loan application + driver’s license
- Agreement of Sale or Deed
- Buyer’s real estate experience/history
- Project/entity information
- Construction budget
- 2 months’ bank statements
- ACH wire transfer info and W-9
- Property leases (when applicable)
Do you do an appraisal?
Yes. We do an appraisal using LOCAL appraisers. (Using appraisers from large, national appraisal management companies can impact appraisal quality and slow down the loan process.)
*We also have the ability for seasoned investors (7+ deals completed) to use software on your cell phone that allows your superintendent to take pictures, rather than doing a full inspection.
**We also offer desktop appraisals for fix & flip loans. We need interior photos and a budget for this style appraisal.
THE iFC NEW CONSTRUCTION 4 STEP LOAN PROCESS
step 1: Get a quote for your project
Fill out our deal form and get a quote in under two minutes. Once complete, someone on our team will follow up with a customized lending solution and terms for your New Construction Loan.
step 2: Accept the terms
We then issue preliminary pricing for your review. If the price is right, and you wish to move forward with iFC, a formal term sheet will be digitally issued for your signature. Sign and we will kick things into high gear!
step 3: Finish paperwork/appraisal
Paperwork sucks, but we are here to help you along the way. After we collect the agreement of sale, construction budget, title, and insurance contact information from you, we order your appraisal from a LOCAL company, (not a national appraisal management company, which can impact appraisal quality and delay your loan).
step 4: Close your deal!
Provide us with supporting documents in a timely fashion (your real estate experience, driver’s license, entity information, and source of cash), and we will get you to closing in as little as 7 days.
The iFC Team: We Are Real Estate Savvy, Entrepreneurial, Investors (Who Give a Damn About Your Success!)
We have been buying and building real estate in the greater Philadelphia market since 2008. We built this lending platform for investors after our own personal lending experience, to disrupt the way traditional lending is done for investors. The iFC Team works relentlessly to make sure our customers’ experience is nothing shy of outstanding. Supportive of one another, and of our borrowers, iFC Team members are the type of people you want to be around—we inspire and motivate. Our intention is to create successful, long-term, transparent, relationships with our partners and clients. Learn More