Frequently Asked Questions
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 acquisition loans, bridge or short term
financing, and renovation loans.
 Where does ICF lend?
We lend in Renovation and Bridge Loansin the State of Colorado. We lend Flash Cash
nationwide.
What are the typical properties that you loan on?
Small Commercial & Residential Single Family (non-owner occupied) properties in any
condition.
What properties wonʼt you lend on?
Residential Owner-Occupied properties, of any type. Condos, Townhomes and some
types of commercial properties.
What is the term of your loans?
We offer 6 month and 9 month terms on our standard bridge or renovation loans, but we can structure a
loan with different terms to meet your specific needs, such as a 30 day loan to season
title for a property flip.
 Do I have to make payments?
Depending on the loan program selected, a monthly interest only pymt maybe required. Ask about our NO, payment option to better manage your cash flow. All of our loans are balloon notes, principal and interest are due at term maturity.
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.
Does ICF charge pre-payment penalties on their loans?
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!
Can ICF take a second position or allow second mortgages on my rehab project?
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!
How fast can you close?
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.
 Can I do more than one loan at a time?
ICF does not have a specific number of loans that anyone can have at one time.
How long does it take for a pre-approval?
We shoot for same day, but the worse case scenario should be within 24 - 48 hours.
Do you provide "proof of funds" letters?
Yes! As soon as you have been pre-approved by ICF.
Do you have a minimum credit score?
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?
We only pull your credit once every 12 months.
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.
Does ICF require repair escrows?
ICF only requires escrows when lending on After Repair Value.
 How is the Repair Escrow Funded?
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.
How is the escrow money released?
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?
Within 3-5 business days of receiving a completed disbursement request. During this
period ICF inspect the project to verify work has been completed.
How often can I request repair/rehab money?
You can request as quick as you can get the work done. There is no set schedule.
However, there is an inspection fee of $75 for each draw.
What if the property doesn't need any repairs?
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.
Will you refinance a property that I currently own?
Yes, under certain circumstances ICF will loan against an existing property or it may
also use an additional property to cross-collateralize a loan.
How do I obtain a payoff?
Fax us a request with the following information: borrowers name, property address, loan
number, date you wish to payoff, borrowerʼs signature authorization.
Can I title my property into my LLC or corporate name?
Yes, vesting may be in the name of a validly formed and existing entity. However, ICF
will require a personal guarantee on loans closed in the name of the investorʼs entity.
Can you provide me with a non-recourse loan that I can use to invest with my Self
Directed Roth IRA/401K?
Yes, we can provide non-recourse loans that the IRS requires when using a Roth IRA to
buy real estate.
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