i FUND CITIES - Fast New Construction Loans for Spartanburg, South Carolina, Real Estate Investors
i Fund Cities is an alternative, non-bank, private money lender providing fast, flexible, reliable, and investor-friendly financing to real estate investors in and around Charleston, Greenville, Spartanburg, South Carolina. If you are investing near Spartanburg and you need investment funding for purchase only, new construction, rehab, cash-out or rate and term refinance, BRRRR, short-term rentals, build to rent, or otherwise, then give us a shout!
New Construction Loan Rates as Low as 7.5% in Spartanburg, South Carolina
i Fund Cities’ New Construction Loans get you fast, flexible, and reliable funds for your next Spartanburg, South Carolina real estate property investment!
What Makes Our Spartanburg, South Carolina New Construction Loans So Awesome?
Hey Spartanburg, South Carolina investors! Need a Kick A$$ New Construction Loan?
New Construction Loans in Spartanburg, South Carolina
What are i Fund Cities’ current New Construction Loan rates in Spartanburg, SC?
i Fund Cities offers New Construction Loan rates as low as 7.5%.
Word of caution: do not believe the low rate marketing gimmicks you see out there in the lending world. Rates are always determined by the following criteria:
Real estate asset Investor experience Investor credit score Investor liquidity
What length of loan terms does i Fund Cities offer for New Construction Loans in Spartanburg, SC?
i Fund Cities offers New Construction Loan terms of 6 to 24 months.
What property types does iFC offer New Construction Loans for in Spartanburg, SC?
We offer New Construction Loans on the following property types:
Single Family Residences
Commercial, Mixed-Use (must have 50% residential for us to lend)
Are there any exceptions to property types for your New Construction Loans?
We do not fund properties in Spartanburg, SC that are designated as “rural.”
Does iFC have a minimum credit score for New Construction Loans in Spartanburg, SC?
Yes. For New Construction Loans, we require a minimum FICO score of 600.
Does iFC have minimum and maximum loan amounts for New Construction Loans?
Our minimum loan amount in Spartanburg, SC, is $75K and our maximum loan amount is $15M.
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?
What documents do you need from me for underwriting New Construction Loans in Spartanburg, SC?
For New Construction Loans in Spartanburg, SC, our underwriting process is less extensive than a traditional bank. We also make it as transparent and straightforward as possible.
1. Contact info for Buyer (and Guarantors), and Title, and Insurance Companies
2. Loan Application + Driver's License
3. Agreement of Sale or Deed
4. Buyer’s Real Estate Experience/History
5. Project/Entity Information
6. Construction Budget
7. 2-Month’s Bank Statements
8. ACH Wire Transfer Info and W-9
Do you do an appraisal for New Construction Loans in Spartanburg, SC?
Yes. We do an appraisal using LOCAL Spartanburg, SC, appraisers. (Using appraisers from large, national appraisal management companies can impact appraisal quality and slow down the loan process.)
Do I need a business entity to get an iFC New Construction Loan in Spartanburg, SC?
Is there a prepayment penalty?
Can I (or a friend or family member) live in my property funded with a New Construction Loan?
New Construction Real Estate Market in Spartanburg
Spartanburg, SC, Key Indicators Like “Average Home Price” for New Construction Properties
Every real estate investor, especially New Construction investors, will benefit from learning how to analyze local market conditions when looking to invest in property in Spartanburg, SC. There are many things to consider when deciding whether Spartanburg, SC, is a good market for New Construction investments. Factors such as the city’s “Average Home Value,” “Homeownership Rate,” and “Median Household Income,” can help investors understand the metrics of buyers and renters in Spartanburg. New Construction investors can also check out Spartanburg's “Average Home Remodeling Costs,” and “Median Monthly Housing Costs.” These metrics will help investors calculate the costs of building, fixing, flipping, and renting Spartanburg properties.
When it comes to selling, every investor wants to make more than they have spent, of course, so it’s helpful to know whether home prices are going up or down in Spartanburg, as rising home prices can signal a stronger market for both selling and renting properties.
Be a New Construction Pro in Spartanburg: Free 85+ Item Construction Checklist
Average Days on Market (DOM) Data for Spartanburg, SC, New Construction
Spartanburg, SC, Real Estate Inventory, New Construction
Key Growth Factors in the Spartanburg Real Estate Market
Commercial: Spartanburg businesses include diversified industries such as Health and Medical, Tourism and Hospitality, Technology, Manufacturing, and Professional Services.
Economy: The development of Spartanburg's top companies and industries will continue to be key drivers in the growth of the city’s real estate market.
Education: Graduates from local Spartanburg schools, as well as those from nearby schools and universities, provide a foundation for the growth of the city’s businesses and industries.