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i Fund Cities

i Fund Cities

Philadelphia
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i Fund Cities

448N 10th Street, Suite 402, Philadelphia, Pennsylvania 19123
(267) 699-7065
chris@ifundcities.com
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Vetted Provider

This vendor has been evaluated and confirmed as active, reputable, and qualified to lend.

About

$2B+
Capital Deployed
4,900+
Properties Funded
2018
Year Founded
i Fund Cities (iFC) is a Philadelphia-based investor-founded direct private lender launched in 2018 by Ryan Herting (Founder), Bryan Ziegenfuse (Co-Founder, Operations), and Chris Tereo (Co-Founder, VP of Sales). Built by real estate investors who were frustrated with the traditional lending experience, iFC has funded over 4,900 loans totaling $2B+ across its history. With 30 employees and own balance sheet capital, iFC lends in 44 states on residential investment properties including SFR, 2-4 units, multifamily up to 10 units, and mixed-use (50%+ residential). Known for its hustle-over-suits culture, iFC provides high-leverage financing (up to 93% LTC for experienced investors), fast closes (7 days), 2-3 day draws, and revolving lines of credit for repeat borrowers after 3-5 funded deals.

Key Differentiators

Why investors choose this lender:

  • $2B+ deployed — significant institutional track record across 44 states and diverse investor markets
  • All 4 loan types — fix-and-flip, bridge, new construction, and DSCR rental under one Philadelphia-based platform
  • 44-state footprint — broad nationwide reach covering all major and secondary residential investment markets
  • City-focused brand — deep market intelligence across the country's most active urban and suburban investment corridors

Where They Lend

Nationwide
44 States (Nationwide)
i Fund Cities lends in 44 states on residential investment properties. Does NOT lend in Alaska, Hawaii, Nevada, New York, North Dakota, South Dakota, or Vermont. No commercial properties, no rural areas, no owner-occupied homes, no horizontal land development.

Loan Types, Structures and Terms

$75,000 to $15,000,000
Typical Loan Amounts
6 to 24 Months
Typical Terms
9.5% to 12.0%
Typical Interest Rates
1% to 3%
Typical Points
i Fund Cities offers Fix-and-Flip (85-93% LTC, 75% ARV), Short-Term Bridge (80% LTP), Ground-Up Construction (90% LTC, 75% LTCV), and DSCR Rental loans (80% LTP/LTV, min 1.15 DSCR) for residential investment properties in 44 states.
Fix-and-Flip
New Construction
Rental (DSCR)
Short-Term Bridge
i Fund Cities Fix-and-Flip loans fund up to 90-93% LTC and 75% ARV for experienced investors in 44 states, with 100% of rehab costs covered, seller financing accepted, and no prepayment penalty.
Fix & Flip FeatureStructure & Terms
Project TypesSFR, 2-4 units, multifamily (5-10 units), mixed-use (50%+ residential) in 44 states nationwide (excluding AK, HI, NV, NY, ND, SD, VT). Fix-and-Flip, Fix-to-Rent, and Rehab-and-Hold programs. No owner-occupied. No commercial properties. No rural areas. No 100% financing. No horizontal financing.
Loan Limits & Terms$75,000 to $15,000,000 | 6 to 24 months | Interest-only, first-lien | No prepayment penalty on fix-and-flip and bridge loans | Seller financing accepted (up to 3% of purchase price)
Rates & Fees9.5% to 12% interest rate | Origination 1% to 3% (min $2,000) | 660 FICO minimum | Draw fee $250 per draw | 1.5% extension fee | Appraisal fee (local appraiser, market rate) | Multi-Purpose Lender Fee at closing | No prepayment penalty
Leverage Ratios (LTC/ARV)Base (1+ deals): 85% LTP | 70-75% LTARV | Experienced (3+ projects, 700+ FICO): up to 90% LTC | High-leverage tier (3+ projects): up to 93% LTC | Max 100% of rehab costs funded | 75% max ARV | Borrower liquidity: minimum 15-20% of total project cost
Experience RequiredMinimum 1 prior completed fix-and-flip project required. Must show proof of experience. Experienced investors (3+ projects, 700+ FICO) qualify for higher leverage tiers up to 93% LTC. Interest charged on drawn funds only.
Structural Advantages100% of rehab costs funded. Seller financing (up to 3% of purchase price) accepted as equity source. Close in as few as 7 days. After 3-5 funded projects, revolving lines of credit available on 2-year terms. Cross-collateralization accepted. Junior liens behind iFC senior mortgage permitted. Foreign nationals accepted.
i Fund Cities Ground-Up Construction loans fund up to 90% LTC and 75% LTCV for 1-50 unit residential and multifamily builds in 44 states, with partially completed projects accepted, 2-3 day draws, and no prepayment penalty.
Construction FeatureStructure & Terms
Project TypesGround-up new construction 1–50 units: SFR, multifamily, mixed-use, townhome developments. Partially completed construction projects accepted. No commercial, no owner-occupied, no rural areas, no horizontal land development (infrastructure). 44 states nationwide (excluding AK, HI, NV, NY, ND, SD, VT).
Loan Limits & Terms$75,000 to $15,000,000 | 6 to 24 months | Interest-only, first-lien | No prepayment penalty | Interest on drawn funds only
Leverage Ratios (LTC/LTCV)Up to 90% LTC of construction costs | Max 75% LTCV (loan-to-completed value) | Same terms as fix-and-flip programs | Borrower liquidity minimum 15-20% of total project cost
Experience RequiredMinimum 1 prior completed ground-up construction project required. Must show proof of experience. Partially completed construction projects accepted. Minimum 660 FICO. Appraisal always required (BPO never accepted). Personal guaranty always required.
Structural AdvantagesInterest on drawn funds only. 2-3 day draws. No prepayment penalty. Close in as few as 7 days. Supports 1–50 unit projects including townhome and multi-home developments. After 3-5 funded projects, revolving lines of credit available on 2-year terms. Foreign nationals accepted. Cross-collateralization accepted.
i Fund Cities DSCR Rental loans offer flexible 3- to 30-year financing for 1-4 unit and multifamily stabilized rentals at up to 80% LTV, minimum 1.15 DSCR, with portfolio loans available for 2-250 properties.
Rental DSCR FeatureStructure & Terms
Property Types1-4 unit residential (SFR, condos, 2-4 units), mixed-use (50%+ residential), portfolio of residential properties. LLC entity required. STR and vacation rentals considered. No owner-occupied. No commercial. No rural areas.
Loan Limits & Terms$100,000 to $5,000,000 per property | 3-year to 30-year terms (5/1, 7/1 ARM or 30-year fixed) | Min as-is value: $100,000 | Portfolio loans available: 2 to 250 properties
Leverage Ratios (LTV/LTP)Purchase: Max 80% LTP | Long-term refinance: Max 80% LTV (cash-out: max 70% LTV) | Seasoning: 6 months required
QualificationMinimum DSCR: 1.15 | Minimum FICO: 640 | Rates from 6% to 9% | Origination 1% to 3% | 6-month title seasoning required | LLC only | Prepayment penalty applies on DSCR loans (not on bridge/flip/construction)
Structural AdvantagesPortfolio loans across 2-250 properties in a single transaction. STR and vacation rentals considered. BRRRR path: exit a iFC fix-and-flip loan directly into iFC DSCR rental financing with the same lender. Use FlipperForce's BRRRR Analyzer to model the exit DSCR before refinancing. Refinance your construction project into DSCR also accepted.
i Fund Cities Short-Term Bridge loans provide fast-close capital for residential investment property purchases and refinances at up to 80% LTP in 44 states, with closings in as few as 7 days and no prepayment penalty.
Bridge Loan FeatureStructure & Terms
Use CasesShort-term bridge for purchase (as-is), rate-term refinance, and cash-out refinance on non-owner occupied residential and multifamily investment properties. Bridge financing on land or existing structures accepted with cross-collateralization. No owner-occupied. No commercial. No rural areas. No 100% financing. No horizontal financing.
Property TypesSFR, 2-4 units, multifamily (5-10 units), mixed-use (50%+ residential). Vacant, tenant-occupied (full or partial) accepted. Portfolio of residential properties. 44 states (excluding AK, HI, NV, NY, ND, SD, VT).
Loan Limits & Terms$75,000 to $15,000,000 | 6 to 24 months | Multifamily/mixed-use: $500K to $5M | Interest-only, first-lien | No prepayment penalty | Cross-collateralization accepted
Rates & Fees9.5% to 12% interest rate | Origination 1% to 3% | 660 FICO minimum | Multi-Purpose Lender Fee at closing | Appraisal fee (local appraiser, market rate) | 1.5% extension fee | No prepayment penalty
Leverage Ratios (LTV)Purchase (short-term, no value-add): Max 80% LTP residential and multifamily | Refinance (no cash-out): Max 75% LTV residential, 70% LTV multifamily | Cash-out refinance: Max 70% LTV | Long-term purchase: Max 80% LTP | Bridge on land or existing structures: 70%-100% LTV with cross-collateral
Structural AdvantagesClose in as few as 7 days. No prepayment penalty. Cross-collateralization accepted. Junior liens permitted behind iFC senior mortgage. Seller financing (up to 3% of purchase price) accepted as equity source. Foreign nationals accepted. After 3-5 funded deals, revolving lines of credit available. Exit to DSCR rental financing with the same lender.
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Borrower Qualifications (Are you qualified?)

i Fund Cities qualifies borrowers on deal structure, credit, and experience. Minimum 1 prior project required for fix-and-flip and construction. Experienced investors (3+ projects, 700+ FICO) unlock up to 93% LTC. DSCR rental loans qualify on property cash flow with minimum 1.15 DSCR. Liquidity of 15-20% of total project cost required.
Qualification ParameterLender Requirements
Experience LevelsMinimum 1 Completed Project Required for fix-and-flip and rehab programs. Minimum 1 completed construction project required for ground-up construction loans. Experienced investors (3+ completed projects, 700+ FICO) qualify for up to 90% LTC, and investors with 3+ projects can access up to 93% LTC on rehab loans. Must show proof of experience.
Credit RequirementMinimum 660 FICO Required for short-term bridge, fix-and-flip, and construction loans. DSCR rental loans require a separate credit review — confirm minimum FICO directly with iFC for DSCR programs. Appraisal always required; BPO never accepted.
Income VerificationCredit Report, Bank Statements, Financial Statements, and Loan Application Required. DSCR rental loans qualify on property cash flow — minimum 1.15 DSCR. Short-term loans do not require W-2s or tax returns. Borrower must show minimum liquidity of 15-20% of total project cost.
Entity RequirementLLC, LP, Trust, and Corporation accepted. Personal guaranty always required. Foreign nationals accepted. Seller financing accepted (up to 3% of purchase price). After 3–5 funded projects, revolving lines of credit become available on 2-year terms.

Underwriting Process (How long will it take to get approved?)

i Fund Cities underwrites in-house on its own balance sheet. Minimum 660 FICO. Credit report, bank statements, financial statements, and loan application required. Full appraisal always required using local appraisers. BPO never accepted. Typical close 14 days, fastest 7 days.
Stage / RequirementProcess & Timelines
Initial ReviewDeals are reviewed by iFC's own balance sheet underwriting team - not sold or table-funded. Direct communication with decision makers. No loan officer intermediary layer. Borrower does not need property under contract before applying. Seller financing (up to 3% of purchase price) accepted as an equity source.
Property ValuationAppraisal always required. BPO never accepted on any program. iFC uses local appraisers at market rates on all valuations. Cost paid by borrower. Always required for both residential and commercial (mixed-use) property types.
Speed to CloseTypical close in 14 business days; fastest close in 7 days on qualifying deals with a complete application package. iFC's direct balance-sheet lending and in-house process drives its fast-close capability.
Document ChecklistCredit report, bank statements, financial statements, loan application. Proof of experience required (minimum 1 prior project for fix-and-flip and construction). Appraisal always required (local appraiser). Multi-Purpose Lender Fee at closing. Minimum 660 FICO. Minimum borrower liquidity: 15-20% of total project cost.

Draw Process (How long will it take to get draws?)

i Fund Cities typically funds draws within 2-3 business days. Interest is charged only on funds drawn throughout the project. A $250 draw fee applies per draw. Build your project schedule using FlipperForce to coordinate draw requests and keep contractor timelines protected.
Operational StepMethodology & Timelines
Draw SystemTypically 2-3 business days. Interest is charged only on funds drawn - not on the full committed renovation budget - keeping carrying costs low throughout the project. On larger projects, interest on drawn amount only applies. Draw fee: $250 per draw.
Inspection MethodAppraisal always required. BPO never accepted on any program type. iFC uses local appraisers on all property valuations. Renovation draw inspections confirm work completion before funds are released.
Funding TurnaroundTypically 2-3 business days from approved draw request. Build your FlipperForce project schedule around the 2-3 day draw window to protect contractor payment timelines throughout the rehab.
Draw Fees$250 per draw (renovation/construction draw inspection fee). Multi-Purpose Lender Fee and Appraisal Fee required at closing. Extension fee of 1.5% if loan term is extended. Third-party title fee applies. No prepayment penalty on bridge, fix-and-flip, or construction loans.