Hard Money Lender

Durham, NC

Super-Fast, Kick-A$$, Street-Smart, High-Leverage Loans for Investors

HARD MONEY

Our Hard Money bridge and rental loans are no-hurdle, fast, flexible and reliable loans for real estate investors across all asset classes.

  • Rates as low as 7%
  • Close in as little as 7 days
  • Up to 80% LTV and 100% rehab financing for Fix and Flip Loans
  • Up to 80% LTV, up to 75% LTV on cash-out refi for Rental Loans/Portfolio Rental Loans

INVESTOR LOANS

Our Hard Money Loans are DESIGNED TO MEET THE STRATEGIC NEEDS OF FIRST-TIME FIX AND FLIPPERS LOOKING FOR HARD CASH THROUGH THE EXPERIENCED RENTAL PORTFOLIO INVESTOR.

  • Up to 80% LTV, 82.5% LTC and 70% LTARV for New Construction Loans
  • Up to 80% LTC (portion of purchase price and 100% of construction) for Multifamily Bridge/65-70% LTV for Multifamily Rental
  • Maximum loan amount: $10M

From the first-time fix and flipper to the rental property portfolio owner, to the major developer carving out investments in the tens of millions, i Fund Cities backs the dreams and aspirations of investors at every level.

New Construction

Fix and Flip

Multifamily & Rental

Private Money Lender

In the real estate world, the term “Private Money” lender is used to describe both non-bank lenders (like us), or person-to-person lenders (like your rich aunt). Also, the terms “Private Money” and “Hard Money” are also sometimes used interchangeably.

Hard Money Loans with i Fund Cities

i Fund Cities is a non-bank, private/hard money real estate lender offering investor-friendly funding with limited underwriting and great leverage. Our loans are a smart loan option for investors needing super-fast and reliable capital in a changing economy.

Our customized financing options are for every level of investor across a full range of lending products, from fix and flip and new construction to a variety of rental loans. And, we have you covered on every property type, as well, including raw land!

Our creative and flexible funding falls outside the traditional lending box. We focus on providing financing options for savvy, entrepreneurial investors, who want to use the velocity of their money to grow their portfolios quickly, efficiently, and exponentially.

WHAT MAKES US DIFFERENT? JUST ASK OUR CLIENTS

"Customer service. Hands down, unequivocally, customer service. Responsiveness, attentiveness to the needs, and full communication. It was pretty intense moving through the deal, but there was transparent, fast communication throughout the whole process."

—iFC Borrower: New Construction: SFR: McKinney, TX.

As investors ourselves,

we’ve got your back!

What kind of deals can we fund in Durham, NC? Check these out!

Local Market Factors: Durham

Commercial: Durham business includes diversified industries such as Health and Medical, Tourism and Hospitality, Technology, Manufacturing, and Professional Services.

Economy: The development of Durham top companies and industries will continue to be key drivers in the growth of the city's real estate market.

Education: Graduates from local Durham schools, as well as those from nearby schools and universities, provide a foundation for the growth of the city's businesses and industries.

“Competition requires lenders to have speed, commitment, and capital. iFC checks all those boxes!” —iFC Borrower, Acquisition, Bridge and New Construction loans: Luxury SFH and Townhome Projects: Delray Beach, FL.

Loans by investors, for investors.  

HARD MONEY: FAQS

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.

We give investors fast, creative lending solutions to many challenges that a typical lender cannot or will not.

THE iFC HARD MONEY 4 STEP LOAN PROCESS

If game-changing success is your goal,

then give us a shout!

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.

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