No Preliminary Credit Check Baby!
Up to 90% LTC (Rehab). Up to 80% LTV (Rental). 30-Year fixed or 7/1 and 5/1 fixed/ARMS. As low as 7.99% (Rehab) and 5.5% (Rental).
Our Fix to Rent Loans are for buy and hold investors who want to get their rental project completed and working for them as quickly as possible.
This loan offers a fast, no-hassle, non-bank loan option to take an investment property all the way from rehab to rental, saving investors time and money.
Our Fix to Rent Loans couple the advantages of our Fix and Flip Loans for your rehab (fast closings, high leverage, low-rates) with a quick and easy option to roll your loan into a long-term, 30-year fixed rate, or a 7/1 or 5/1 fixed/adjustable rate loan.
One-lender convenience for buy and hold properties—from rehab loan to long-term mortgage. Fast approval, speed-to-close, higher leverage than a bank and hard money lenders, reliable funds, customized terms, moderate underwriting requirements.
Our Fix to Rent Loans fund up to 90% Loan to Cost (LTC) on your investment property rehab, and up to 80% Loan to Value (LTV) on your long-term loan with a 30-year fixed, 7/1, or 5/1 fixed/ARM.
“I used i Fund Cities to fund my first rental property and they made the process easy. As a new investor, I was unsure of the process. They walked me through it step-by-step and were patient with all my questions, and responsive to my emails I would recommend them to anybody looking either to fund a flip or a rental property. I know I’ll be back for my next project!”
– Jody Prall, Investor
i Fund Cities offers rehab rates as low as 7.99% (rehab) and 5.5% (rental).
Word of caution: do not believe the marketing gimmicks you see out there in the lending world. Rates are always determined by these criteria below.
Rehab Loan: 6 – 24 months
Rental Loan: 30-year fixed, and 7/1 and 5/1 fixed/ARMs.
We offer Fix to Rent Loans on the following property types:
Yes. For Fix to Rent Loans, we require a minimum FICO score of 600 or 640, depending on the loan.
For Fix to Rent lending, our underwriting process is less extensive than a traditional bank, and we make it as transparent and straightforward as possible.
Rehab Loan: No
Rental Loan: Yes. iFC’s prepayment penalties are the following:
0% or 5-year ARM (5%, 4%, 3%, 2%, 1%): 5-year fixed (5%): 3-year fixed (3%)
As the borrower, you are not able to live in the property. However, a family member can occupy your Fix to Rent property.
If the borrower owns the property for longer than six months, we can use the current appraisal value. If the property is owned for less than six months, we use the purchase price of the property. Seasoning can be shortened to four months if renovations are preformed on the subject property.
Once you have completed your rehab, we use your same loan documents and other information you have provided, to refinance your loan for a longer-term, lower-interest rate Rental Loan.
We work relentlessly to make sure our customers’ lending experience is nothing shy of outstanding. Brought together by Philadelphia, a couple of beers, and a passion to do the impossible, the i Fund Cities team was formed.
Supportive of one another, the iFC team members are the type of people you want to be around—they inspire, motivate, and enjoy the company of their clients and partners.
Building strong relationships and impactful lending practices are the core values that drive the iFC team.
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