Providing Investors With Great F#*%ing Loans

Fix & Flip | New Construction | Bridge | Multifamily | Rental

Dealing with lenders sucks. That’s why we’re doing everything we can to make it suck a lot less for you.

WHAT YOU’LL GET:

  • A Better Lending Experience
  • A Clear and Transparent Process
  • Support From Real People
  • Speed – Get the stopwatch out, we dare you
  • Quick Draws – typically 48 to 36 hours
  • Greater Leverage – More money in your pocket
  • Reliability of Funds – We’ll have you thinking money started to grow on trees
  • Seller Financing Allowed –  Up to 3% of the purchase price

Just like you, we’re hustle and grit, not suit and tie. Like you too, we’re entrepreneurial, creative thinkers, and we value upfront, honest, talk about deals, business and life. Like you, we show up for the people around us and we deliver.

Property Geographic Area Details

Nationwide with the exception of: CA, NYC, NV

Loan Amounts

$75,000 to $10,000,000

Interest Rates

7% to 12%

Max Loan-To-Value

80%

Max Loan-To-Cost

90%

Origination Fees

1% to 4%

Loan Terms

6 months to 360 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property
  • Value Add Project
  • Development Project

Property Occupancy

  • Vacant
  • Tenant Occupied 100%
  • Tenant Occupied Partial
Minimum Occupancy Percentage

0%

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property

Property Types

  • 2-4 Units Residential
  • Mixed-Use
  • Multifamily
  • Portfolio of Residential Properties
  • Single Family Residence

Loan Types

  • Private Money
  • Hard Money
  • Residential Bridge
  • Residential Fix and Flip
  • Residential Rehab and Rent
  • Residential Ground-Up Construction
  • Residential Long-Term Rental

Specialty Loan Types

  • Residential Long-Term Rental

Purchase Loan

No pre-payment penalty for short-term bridge loans.

Max Loan-To-Purchase Price

80%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

no

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Subject Property
  • Equity in Another Investment Property
  • Seller Financing
  • Crowdfunding
  • Family

Rehab Value Add Loan

We will go up to 90% LTC for experienced investors with light rehab projects, but we are normally 85% loan-to-purchase, or 70-75% LTARV. Minimum 580 credit score required for flips. Must show proof of experience. No prepayment penalty for rehab loans.

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

1

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

85%

Interest Charged for Renovation Costs

Only on Funds Drawn

Typical Number of Days for Funds Draw

3

Maximum After Repair Value

75.00%

Construction Loan

Minimum 580 credit score required. Must show proof of experience. No prepayment penalty for construction loans.

Development Experience Required

yes

Minimum Number of Ground-Up Construction Projects Completed by Borrower

1

Max LTC for Ground-Up Construction Costs

85%

Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects

yes

Residential Long-Term Rental

Minimum Loan Amount

$100,000

Maximum Loan Amount

$5,000,000

Minimum Interest Rate

4%

Maximum Interest Rate

7%

Minimum Origination Fee

1%

Maximum Origination Fee

3%

Minimum Loan Term

36 months

Maximum Loan Term

360 months

Maximum Loan-To-Value

80%

Maximum Loan-To-Purchase

80%

Seasoning Time

6 months

Minimum Debt Service Coverage Ratio

1.15

Will Lend on a Portfolio of Rentals

Yes

Minimum Number of Properties

2

Maximum Number of Properties

250

Details and Requirements

Typical Closing Time (Days)

14

Fastest Closing Time (Days)

7

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Amortized

Pre Payment Penalty

yes

We only charge a prepayment penalty for long-term rental loans. No pre pay on bridge, new construction, fix & flip.

Will lend to a foreign national

yes

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

yes

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

  • LLC
  • Limited Partnership
  • Trust
  • Corporation

Documentation Required

  • Credit Report
  • Bank Statements
  • Financial Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

yes

Minimum Credit Score Required

580

Appraisal Required for Residential Property

Always

Appraisal Required for Commercial Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Never

Broker Price Opinion (BPO) Accepted for Commercial Property

Never

Fees

Processing Fee

Our processing and legal fees are combined.

Legal Fee

Our processing and legal fees are combined.

Extension Fee

1.5%

Appraisal Fee

Appraisal fee is market rate. We always use local appraisers.

Renovation Construction Draw Fee

$250

Minimum Origination Fee Amount

$2,000

Fees which are mandatory for all new borrower clients

  • Multi-Purpose Lender Fee
  • Appraisal Fee
  • Extension Fee

Fees which are charged upfront prior to loan closing

  • Appraisal Fee

Fees which are paid to a third party company

  • Title Fee

FIX & FLIP | RENTAL | NEW CONSTRUCTION

Residential (1-4 Units), Multifamily (5+)
Mixed-Use OK if 50%+ Residential
Interest Rate: 8%-12%
Origination Fee: Starting as low as 1.5% of the total loan
Leverage up to 65-75% Loan to After Repair Value (LTARV)
Real Estate Experience: Minimum of 1 deal complete
Borrower Liquidity – 15-20% total project cost
Term: 6 to 24 months

NEW CONSTRUCTION

Ground-up new construction 1-15 unit, Multifamily &
Mixed Use, Townhome Development
New Construction – Same terms as fix and flip

INVESTOR REFI (LLC ONLY) – CASH-OUT, RATE & TERM, & PURCHASE

Term: 5/1, 7/1 or 30 year fixed
LTV: up to 75%
Min “as is” value $100,000
Min FICO 640
Rates: Starting as low as 4.95%

BRIDGE FINANCING | LAND OR EXISTING STRUCTURES

70%- 100% Loan to Value
Cross collateralization accepted

MULTIFAMILY & MIXED-USE

Mixed-Use Properties must be 50%+ residential
Project Size – $500k – $5m
Nationwide


*** CASH OUT IS OKAY
*** REFINANCE YOUR CONSTRUCTION PROJECT IS OKAY
*** INTEREST ON DRAWN AMOUNT FOR LARGER PROJECTS
*** AFTER 3-5 PROJECTS FUNDED, REVOLVING LINE OF CREDITS AVAILABLE. 2 YEAR TERMS

A BIT ABOUT US

We disrupted the loan industry in 2018 by delivering Great F#*%ing Loans at awesome rates, tailored for you in minutes. Born and bred in the city of brotherly love, Philadelphia, we’ve been listening to our customers’ needs since our inception and continue to provide our investors with the capital they need to achieve investing success.

What did they want? A unique real estate loan process that would save them time and keep more money in their pockets. So we set out to build exactly that. Now, the I Fund Cities team spends their days focused on getting you capital so you, the investor, don’t have to. Sounds easy enough? Well, it is.

I Fund Cities approach to lending stems from our own experience as investors– Yes, we are just like you! We understand the high-stress atmosphere of quick closings and we understand the lending experience is subpar at best, so we are here to fix that! We provide flexible and reliable lending platform providing Kick A$$ Loans to residential real estate investors nationwide. Our IFC promise is to provide you, our investor, with the speed, transparency, and a personalized investing  that you are just not going to find anywhere else.

It all started in the city of brotherly love, Philadelphia, where the partners of IFC set out on a mission to provide the most cost-effective and efficient capital to local investors. Branded locally as I Fund Philly, our cult like following began to quickly grow and we soon realized our services were needed in more than just one city. As a result, I Fund Cities was born.

 

Company Size (Number of Employees)

10

Year Established

2018

Office Locations

448N 10th Street, Suite 402, Philadelphia, Pennsylvania 19123

Ryan Herting

Founder & Chief Experience Officer

Bryan Ziegenfuse

Co-Founder & Managing Partner

Chris Tereo

Co-Founder VP of Sales

Greg Jaspan

Head of Technology

Before You Contact Us

Our Minimum Loan Amount Is

$75,000

What We Do

  • Investment Property Loans in 46 States
  • SFR, 2-4 Units, Multifamily, Mixed-Use
  • Fix & Flip, Long-Term Rental, Bridge, Construction
  • Proof of Funds for Purchase

Not Available

  • NO Owner-Occupied Homes
  • NO 100% Financing - 10%+ Cash Required
  • NO Rural Areas
  • NO Specialty Property Types

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

$
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(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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how will the loan be paid off?

acres

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