ICS Loans

About ICS Loans

Headquartered in Seattle, WA, ICS Loans is a private lender providing loans across the US. They provide loans for many different situations and needs, including hard money bridge loans, cash out hard money loans, hard money loans for commercial properties, and fix-and-flip hard money loans. They issue loan amounts ranging from $25,000 to $10,000,000 with a maximum LTV of 75% and rates ranging between 8% and 12%. They do not require their borrowers to have a minimum FICO score to obtain a loan. They provide loans on most property types, including single family units, multi-family, apartment buildings, office buildings, retail spaces, hotels and motels, storage facilities, senior living facilities, mixed use spaces, warehouses, industrial facilities, medical offices, and raw land.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, Refinance / Cash Out Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical, Land

Areas Served: National

Lending Guidelines for ICS Loans

Below are the general loan guidelines published on the ICS Loans website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by ICS Loans.

Loan Example 1

Abigail is a real estate investor in Salt Lake City, UT. She locates an older property for sale and decides to rehab it and sell it for a profit. The house costs $310,000 but she does not have the full amount so she takes a fix and flip loan with ICS Loans. The lender agrees to issue a loan with a 85% loan-to-value (LTV) so they will loan $263,500 on the property. The loan also consists of these features: 1) a 18 month term, 2) a 13% interest only note, and 3) a four point origination charge.

By the parameters of the deal, Abigail will need to contribute a $10,540 origination fee plus 15% of the purchase price, or $46,500, based on the 85% LTV. she will then pay $2,855 per month to the lender. If Abigail sells the house for $465,000 after 18 months, she would then make a gross profit of $93,078 after subtracting the original principle of $263,500, the cash paid at the close of $46,500, the origination fee of $10,540, and the total interest payments of $51,383. This gross profit does not account for building costs.

Loan Example 2

ICS Loans issues a private money loan to Effie for a rehab project in Chicago, IL. The deal dictates the following:

a) A $200,000 purchase price, b) a 70% loan-to-value (LTV), c) a 6 month term, d) a 10% interest rate, and e) a 3% origination fee.

After the renovation project is complete, if Effie sells the house for $260,000, the final numbers would be as follows:

$260,000 sales price
- $140,000 note principle (70% LTV)
- $60,000 cash paid at closing (30% on 70% LTV)
- $4,200 origination fee (3% of the $140,000 principle)
- $7,000 total interest paid (6 months x 10% interest)
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= $48,800 gross profit (does not include taxes or rehab costs)