What is Hard Money?

Hard Money Loan is basically a “Portfolio Loan” that works on collateral based underwriting. It puts more emphasis on the lendable equity in your property rather than on your credit. Simply because it is more of an “equity based loan” does not mean that only people with credit problems use hard money loans. Actually just the opposite is true. Many borrowers of hard money have good credit, good assets and good income. The reason they use hard money is it is FAST and EASIER than traditional financing. It eliminates the red tape! It is not uncommon to get funding in 5 days of receiving a full package. Hard money loans are used for bridge or short term financing.

Where does ICF lend?

Residential Single Family investment properties.

Small Commercial & Residential Single Family (non-owner occupied) properties in any condition.

Residential Owner-Occupied properties, of any type. Condos, Townhomes and some types of commercial properties.

Both our Renovation and Bridge loans are 4 month in term. Extensions are available.

Do I have to make payments?

What are your terms, fees, and interest rates?

Each ICF loan plan has different terms and costs. These depend heavily on the strength of the deal.

No. The faster you fix the property up and sell or refinance it, the more profit you will earn. Real estate investors should never pay pre-payment penalties!

We only loan in 1st Lien position.

Will you roll closing costs into your loan?

ICF will loan up to the max LTV for the given loan program. As long as the loan does not exceed this, you may receive 100% of the sale price, 100% of your repair costs, and even have some or all of your closing costs rolled into the loan. The bottom line is that if your loan to value is sufficiently strong, you can get into a property with little or no money down!

Normal turn times range from 5 -10 business days after we receive the full property submission packet. Being pre-approved can save you valuable time in the process.

ICF does not have a specific number of loans that anyone can have at one time.

We shoot for same day, but the worse case scenario should be within 48-72 hours.

Yes! As soon as you have been pre-approved by ICF.

ICF does not have a minimum credit score. However you credit is reviewed to identify your ability / willingness to pay existing liabilities, as well as any history of bankruptcy or foreclosure within the last 24 months or any liens or judgments that could attach to the property you area purchasing.  We look at your overall financial profile, experience as an Investor, Reserves, and Income to support the loan.

How often do you pull my credit?

What is a Property Valuation?

ICF conducts an internal valuation of the property based on the scope of improvements you will be making to determine value. ICF may have an external appraisal performed by an approved, licensed appraiser, at no additional cost to you.

ICF only requires escrows when lending on After Repair Value.

Our Bridge Loan fits that model. ICF will loan based off the appraised value, versus the purchase price. So, if you are buying the property at a big enough discount, you can get it with No Money Down.

ICF will fund the repair escrow up to the max LTV on a given loan program. Any shortage must be funded by the borrower at time of closing. If you buy the property well enough, there should be little to no out of pocket monies from you.

As work is completed, simply complete the Release Request. Fax it, along with your invoices to ICF for disbursement.

How long does it take to process a draw request?

No, ICF only loans on the acquisition of new investment properties. We do not bailout existing investment properties that have not gone as originally planned.

Fax us a request with the following information: borrowers name, property address, loan number, date you wish to payoff, borrower’s signature authorization.