Kick A$$ Real Estate Loans for Investors by Investors
No Preliminary Credit Check Baby!
As a Private Money Lender, we are an excellent choice for investors who need super-fast and reliable capital in a changing economy. We provide faster closings than the bank, with less paperwork.
We offer “alternative” non-bank Private Money Loans for most property and transaction types, both short- and long-term.
We offer Private Money Bridge Loans on fix and flip, fix to rent, and new construction projects. We offer Private Money Rental Loans on short and long-term rental investments. We fund single-family residential, multifamily, and commercial, mixed-use properties.
Our Private Money Loans can even fund your raw land. In short, you name it, our Private Money Loans can fund it!
Financing for purchase and repairs with fast approval, speed-to-close, higher leverage than a bank, reliable funds, customized terms, moderate underwriting requirements.
WE ARE INVESTORS, JUST LIKE YOU. 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.
As an iFC client, you can count on having a transparent, supportive relationship with our team as your financing and project partner.
Our Private Money Loan rates are as low as 7%. We fund up to 90% LTC and up to 75% LTARV* with loan amounts up to $15M.
*We fund up to 90% LTC or 75% LTARV (whichever is less) for experienced investors.
Most of our loans are 85% LTC or 70% LTARV.
We show up and we deliver!
“We felt the love throughout the entire process, and it was an incredible experience! You and i Fund Cities are certainly unique in the fact that you understand that it’s not about the money, it’s about being the type of person that people want to do business with, and the money will always follow. It’s been such a pleasure working with you guys. We are looking forward to many more great experiences to come!”
– Joan, Philadelphia Investor
Well, it depends on who you talk to!
Let’s say you Google “Private Money Lenders for Fix and Flip Loans.” The results that come up will be those under Definition #1: Private Money Lenders.
These types of Private Money Lenders are “Private” compared to the standard place many go to for loans—the bank. Most investors choose these types of Private Money Loans over a bank loan because they can close their deal more quick, they often get better leverage, and there is generally less paperwork involved.
This means the investor can do more deals more quickly, and scale their portfolios faster. This means more potential profit each year.
Investors also often look to Private Money Lenders for shorter-term projects (up to 18 months). Why? The primary advantage a bank offers is a lower interest rate. If you have a project with a year-long timeline, a slightly higher interest rate is not going to cost you much more. When you compare the savings on interest to the amount you may gain by closing a deal quickly and getting moving on your project, then a Private Money Loan may make the most sense.
i Fund Cities offers rates as low as 6.375%.
Word of caution: do not believe the marketing gimmicks you see out there in the lending world. Rates are always determined by the following criteria:
The best Private Money Lenders:
We offer Private Money Loans on the following property types:
Yes. For Private Money Loans, we require a minimum FICO score of 600 or 640, depending on the loan type.
We lend in all 50 states except for California, New York, and Nevada.
iFC can provide Private Money Loans to both U.S. Citizens and Foreign Nationals.
For Private Money lending, our underwriting process is less extensive than a traditional bank, and we make it as transparent and straightforward as possible.
Documents needed:
<ol>
<li>Contact info for Buyer (and Guarantors), and Title, and Insurance Companies</li>
<li>Loan Application + Driver’s License</li>
<li>Agreement of Sale or Deed</li>
<li>Buyer’s Real Estate Experience/History</li>
<li>Project/Entity Information</li>
<li>Property Leases (if appropriate)</li>
<li>Construction Budget (if appropriate)</li>
<li>2-Month’s Bank Statements</li>
<li>ACH Wire Transfer Info and W-9</li>
</ol>
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.)
Yes. You will need to have an LLC, a Limited Partnership, a General Partnership, a Corporation, or a Trust.
Depends on the loan type.
As the borrower, you are not able to live in the property. However, a family member can occupy your property funded with Private Money.
Ok, now let’s say that you are sitting in your living room with your rich aunt and you mention that you are looking for funds to do a fix and flip down the street from her. “Oh, dear,” she exclaims, “I would love to see that old house fixed up! How much do you need to get going?”
This definition of a Person-to-Person Private Money Lender refers to either a family member, friend, acquaintance, or perhaps a business associate or another investor whom you met at a meetup. This type of Private Money Lender usually wants to support you first because you are YOU, and also because you have a great project!
Maybe you are just getting your real estate business going, or maybe you have done a few projects already. Either way, this type of Private Money Lender generally loans you money based on their personal relationship with you and/or their knowledge of your abilities.
Sometimes, new investors are not able to qualify for funding through either the bank or through other types of Private Lenders.
Why? Here are a few examples:
In any one of these cases, investors may want to look at personalized loan options through family members, friends, or others in their network who are looking for an investment.
Fill out the quick quote form for our loan officer to review and we will get in touch ASAP!
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