International Mortgage Capital

About International Mortgage Capital

International Mortgage Capital is a Miami Beach, FL based private lender. They provide funding in Florida. They provide lending solutions for a variety of situations, including fix and flip hard money loans, private refinancing, and loans for rental properties. Their loan guidelines are flexible, including loan amounts ranging from $100,000 to $2,000,000 with a maximum LTV of 60%. They do not require borrowers to have a minimum credit score to obtain a loan. The focus of their loans is for single family.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Refinance / Cash Out Loans

Property Types Covered: Single Family

Areas Served: FL

Lending Guidelines for International Mortgage Capital

Below are the general loan guidelines published on the International Mortgage Capital 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 International Mortgage Capital.

Loan Example 1

Marisa finds a condo in Miami, FL to renovate and re-sell. Since she doesn't have enough cash on-hand to purchase the $380,000 project outright, she takes out a fix and flip loan from International Mortgage Capital. The terms of the loan include a 65% loan-to-value (LTV), so she must contribute 35% of the price as cash at closing, making the principle note amount $247,000. The terms of the deal also include a two point origination fee that will be paid at closing and a 18 month, interest only note with a 13% rate of interest.

Marisa will have to contribute a total of $32,400 upon closing to pay the $133,000 down payment plus the $4,940 origination fee. Once the deal closes, she will need to pay International Mortgage Capital $2,676 in monthly interest fees, or 13% multiplied times $247,000 divided by 12 months in the year. Assuming Marisa sells the rehabed house for $494,000 at the end of the 18 month term, her gross profit (not including renovation expenses) would be $60,895. This is calculated by taking the purchase price ($494,000) and subtracting the original principle ($247,000), the origination cost ($4,940), the funds she brought to closing ($133,000), and the total interest payments ($48,165).

Loan Example 2

Roberta is a real estate investor in Miami, FL. She locates an older townhouse for a rehab project and takes out a fix and flip loan from International Mortgage Capital with the following features:

$300,000 purchase price
50% loan to value (LTV)
18 month term
14% interest rate
2% origination fee

Based on a $390,000 sales price at the end of the 18 month term, the final numbers for the deal would look like the following:

$390,000 sales price
- $150,000 principle (50% LTV)
- $150,000 cash paid at closing (50% on 50% LTV)
- $3,000 origination fee (2% of the $150,000 principle)
- $31,500 interest payments (18 months x 14% interest)
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= $55,500 gross profit (doesn't include taxes or rehab costs)

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