Hard Money Loans

A hard money loan is a short term loan used to acquire or refinance a property when a conventional loan is not practical or when a fast closing is needed. Traditionally a hard money loan is asset-based on the market value of the property. Since the loan is underwritten with more weight given to the property value, we can provide financing to borrowers who have less than perfect credit. This includes borrowers who have past mortgage lates, poor consumer credit history, short sales and foreclosures and other credit issues. Hard money loans are a great option for many borrowers who have situations that don’t check all the boxes for conventional financing.

Non-QM Loans (Rental Properties)

Non-QM loans are those that do not meet conventional loan or government loan (FHA,VA,USDA) underwriting guidelines. These loans are ideal for borrowers with low credit scores and unique finances because they can be underwritten with flexible guidelines and less than full income documentation. Also, unique properties like non-warrantable condos, condotels and those with excessive acreage can be financed with Non-QM loans. We only provide these loans to investors for rental properties. These loans are a great option for many borrowers who have situations that don’t check all the boxes for conventional financing and the rates are low compared to typical hard money rates.

Fix & Flip Loans

A Fix & Flip Loan is a short term loan used to purchase a property, make repairs and/or remodel the property and sell it for profit. IGR Mortgage Services provides funding for up to 90% of the purchase price and 100% of the renovation expenses. Good credit is required and the borrower cannot have any late payments, foreclosure, bankruptcy or judgements within the past 24 months. The first stage of the loan process is pre-approval. An evaluation is made of the project and the borrower’s financial profile and experience to see if it meets program lending criteria. Second is processing and underwriting which includes review of the project budget for repairs and an appraisal of the subject property. The final stage is closing and a establishing a draw schedule for construction funds. Draws are made within 2-3 days after inspection into a designated bank account for the borrower. These loans are closed in an average time of 14-20 days, ensuring a quick and hassle free process for the borrower.

Ground-Up Construction Loans

IGR Mortgage Services provides funding for real estate investors, builders and developers for the acquisition, development or construction of ground-up projects. Eligible properties include detached single-family, condos, townhomes and multi-family. These loans are typically structured with an advance at closing for lot acquisition and the remaining funds are held in a hold-back account. A draw schedule is established for the disbursement of construction funds which are made after work is inspected. Typically this is a 3 day process. The ground-up construction loans we provide offer greater flexibility and less documentation and underwriting than institutional construction loans. IGR Mortgage Services provides funding for up to 90% of the project cost and 75% of finished value. Our construction loans ensure a quick and hassle free process for the borrower.

Bridge Loans

A bridge loan is a short term loan, typically 12 to 24 months. The bridge loans we provide have flexible underwriting, less documentation than conventional loans and can close quickly (7-14 days). These are ideal loans for investors who want a bridge to a sale (Fix & Flip), bridge to a conventional refinance (improve credit, fix deferred maintenance) or bridge to some other exit strategy. IGR Mortgage Services provides bridge loans for residential (1-4), multi-family (5-100 Units), Mixed Use and Most commercial properties. Our flexible underwriting and fast closings provide a hassle free loan experience for investors.

Rental Investment Loans

IGR Mortgage Services provides long-term financing to purchase or refinance a rental property where the investor intends to keep the property long term (3+ years). These loans are an ideal option when the property is in good condition with no deferred maintenance, , when a bridge loan needs to be refinanced, and when the property is stabilized, leased-up and generating consistent income. Our rental investment loans have flexible underwriting, less documentation than conventional loans and can close quickly (7-20 days). We also offer maximum leverage with loans up to 90% LTV to help investors build their portfolios for the long term. Our flexible underwriting and fast closings provide a hassle free loan experience for investors.

Commercial Loans (Long Term & Bridge)

The commercial real estate loans we provide help investors who are frequently overlooked by institutional lenders, either because of lower required loan amounts or low credit scores. IGR Mortgage Services has a diverse array of loan options for commercial properties so we can tailor loan structures to best meet the needs of investors. We offer 30 year financing for stabilized properties and bridge loans for specials situations (unique acquisitions, sale & lease-back scenarios, distressed sales, partner buy-outs, rehab and conversion opportunities, etc.). For stabilized properties we offer maximum leverage with loans up to 80% LTV which helps investors with portfolio-building. IGR Mortgage Services private money commercial loans are the perfect solution for investors wanting to purchase or refinance commercial, multi-family, mixed use and industrial property. Our flexible underwriting and fast closings provide a hassle free loan experience for investors!