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FAQ

Frequently Asked Questions

The following FAQs are designed to help address your questions regarding our products, services, company and policies. For any further inquiries or how to get started, feel free to reach out to us and we’ll be happy to assist you!

IceCap Group is a nationally recognized direct private lender and fund manager offering tailored financing solutions for residential real estate investors and brokers in a wholesale capacity. Powered by a tech-driven and optimized financing process, institutional-grade fund management, and deep industry expertise, we deliver fast, flexible, and reliable capital.

IceCap Group offers diverse financing solutions including short-term bridge loans, renovation-focused fix & flip loans, ground-up construction loans for development projects, long-term loans for stabilized multifamily properties, DSCR loans based on cash flow, and portfolio loans for rental property investors.

✅ Experienced Investor – Summary

🔹 Term Loans (DSCR / Portfolio)

SFR & 2–4 Units:

  • Owned & managed commercial or non-owner-occupied residential real estate for 12+ months in the past 3 years,
    OR

  • Owned 3+ such properties in the past 24 months

Multifamily (5–9 Units) / Mixed Use (2–8 Units):

  • Owned 1 qualifying property for 12+ months in the past 12 months,
    AND

  • Owned primary residence for at least 1 year

🔹 Bridge Loans (1–4 Family)

  • At least one guarantor with 10%+ ownership has completed 3+ rehab sales or refinances on rental properties in the past 3 years

  • Verified by documents such as:

    • Tax records, public databases, HUD statements, signed mortgage docs, or LLC filings

  • Operating Agreement alone is not sufficient

🚫 Inexperienced Investor – Summary

🔹 Term Loans (DSCR / Portfolio)

Investors who do not meet the experienced criteria above are subject to stricter terms:

  • Min DSCR: 1.00x

  • Max LTV: 75%

  • Loan Amount:

    • Min: $150,000

    • Max: $1,000,000 (up to $2M if LTV <70%)

  • Must have owned primary residence for 1+ year

🔹Bridge Loans (1–4 Family)

Investors not meeting the 3-sale/refi rehab history requirement within 3 years are considered inexperienced and:

  • Face lower LTV/LTC limits

  • Refinances often not permitted

  • Typically require higher FICO and lower leverage ceilings depending on rehab type

Our experienced team is dedicated to delivering fast, efficient service tailored to each borrower’s unique needs.

🕒 Loan Closing Timeframes

  • Bridge Loans: Can close and fund within a few days, depending on processing speeds and document readiness — typically under 2 weeks.

  • Fix & Flip Loans: Generally close within 2 weeks.

  • Ground-Up Construction Loans: Usually close within 2 to 3 weeks.

  • DSCR Loans: Commonly close within 2 weeks.

  • Rental Portfolio Loans: Typically close within 2 weeks.

Timelines may vary depending on borrower qualifications, property details, and market conditions. However, we pride ourselves on delivering some of the fastest turn times in the industry—closing as soon as all required conditions are met.

⚙️ Processing Turn Times

  • Document Uploads: Immediate

  • Account Manager Review: Same business day if submitted by 5 PM EST

  • Underwriter Review:

    • 1 business day for Term Loans

    • 1–2 business days for Bridge Loans

  • Clear to Close: Within 1 business day

  • Closing Document Generation:

    • Same day if “Clear to Close” issued before 11 AM EST

    • Otherwise, within 1 business day

As a broker, how do I sign up to start the application process?

Getting started is quick and easy — just click this simple link: Let’s Go!

Once submitted, a dedicated account executive will promptly reach out to collect a few more details. Most approvals are completed within 1 business day, making the entire process fast, efficient, and hassle-free.

Loan Programs & Property Eligibility

  • We offer a broad suite of investment property loans – from short-term bridge loans for fix-and-flip projects to long-term DSCR rental loans for stabilized rentals . 

  • Our programs include fix-and-flip bridge loans, rental portfolio loans, new construction financing, and even multifamily bridge loans. 

  • We finance residential investment properties including single-family homes, 2–4 unit dwellings, condos, and small multifamilies. Like many private lenders, we focus on non-owner occupied 1–4 unit properties (and certain multifamily/apartments), rather than owner-occupied homes .

  • Eligible collateral includes 1–4 unit residential properties – such as single-family rentals, townhomes, and duplexes – and often multifamily buildings as well. 

  • Yes. We have options for multifamily (5+ unit) properties – typically through our commercial or portfolio loan programs. Many top private lenders extend credit for smaller apartment buildings;.

  • Multifamily loans (5+ units) are available, though often with slightly different terms (e.g. lower LTV). 

  • Yes – we provide new construction loans for building investment properties.  Our construction financing covers land acquisition and construction costs, tailored to experienced investors and builders.

  • We do finance ground-up construction deals (not just rehabs). We offer specialized construction loan programs with interest-only terms to help investors build and then exit or refinance upon completion . These loans fund both the lot purchase and construction budget, provided the project meets our criteria for viability and value.

  • We are a nationwide lender, currently active in most U.S. states. Refer to our map on the homepage to learn more.

  • Yes – our loans are for business purposes only, so we require borrowers to apply via a legal business entity (typically an LLC). This is standard in private lending and if you don’t have an LLC yet, you can form one during the application process; the loan will be made in the entity’s name.

  • Borrowing under a business entity (LLC, corporation, etc.) is required. We cannot lend on personal/owner-occupied basis, so an entity structure is needed . This ensures the loan is strictly for investment purposes. (Loans are commercial in nature, so they won’t be made to individuals for primary residences.)

  • No – we do not finance owner-occupied properties. Our programs are limited to non-owner occupied real estate investments.  
  • Our loans are business-purpose only, meaning the property cannot be your primary residence. You may rent the property to tenants, but you as the borrower cannot reside in it under our loan terms.

  • Absolutely. In addition to fix-and-flip bridge loans, we offer 30-year rental property loans (often called DSCR loans) for purchasing or refinancing income properties. Whether you’re flipping for resale or building a rental portfolio, we have loan options for each strategy.

  • Yes – we have long-term rental loans for investors who buy-and-hold properties. These loans are typically 30-year, fixed or hybrid adjustable mortgages based on the property’s cash flow (Debt Service Coverage Ratio). 

  • We primarily lend on residential investment properties. Pure commercial or mixed-use properties (e.g. building with retail/office component) generally do not qualify under our standard programs . Our focus is on non-owner occupied housing (1-4 units, multifamily), not mixed-use retail or industrial assets.
  • Our core programs exclude most mixed-use properties. We require the collateral to be residential (though a small mixed-use deal might be evaluated case-by-case).  If you have a mixed-use project, please inquire, but generally a pure residential investment is needed.

Borrower Qualifications & Requirements

  • We look for a minimum credit score in the mid-600s for most loans. In practice, many lenders set a 640–680 FICO minimum. Higher credit can fetch better rates, but we are often flexible if the deal’s strong – we review the overall credit profile, not just the score.
  • Generally, a 640+ FICO is required. 

  • We work with investors at all experience levels – even first-time flippers or landlords. While experience can help you qualify for higher leverage or better terms, it’s not strictly required. We’ll assess your deal and team, and even if you’re new, we can often provide financing (sometimes with slightly adjusted terms).

  • Prior investment experience is not strictly required, though it can improve your loan terms. Our approach is flexible – we’ve funded many first-time investors, though we may start you at a conservative leverage until you build a track record.

  • Yes, most loans will require an independent appraisal (or valuation) of the property – especially for rental loans. However, for certain short-term bridge loans, we can sometimes waive a formal appraisal. We often use internal valuations or Broker Price Opinions for flips, but will obtain full appraisals for long-term rentals or when otherwise necessary.
  • An appraisal is typically required to confirm the property value (and ARV for rehab projects). This is standard practice among private lenders to manage risk. In general, expect to have an appraisal or at least a third-party valuation before closing , unless explicitly waived for a streamlined program.

  • Our application process is streamlined. We do not ask for personal income documents like tax returns, pay stubs or W-2s – just basic information on the property and your investment experience. Typically, you’ll provide a loan application, credit authorization, bank statements (to show down payment funds), an LLC/entity document, and details about the property (purchase contract, rehab budget, etc.) .

  • The required documentation is minimal compared to conventional loans. We usually need: a completed application, credit/background authorization, proof of funds (e.g. recent bank statement for your cash to close), and information on the property (purchase agreement, rehab plan if applicable). We won’t ask for tax returns or paycheck stubs since these are asset-based loans . Additionally, if borrowing in an LLC, we’ll collect your entity formation docs. Overall, it’s a light documentation process focused on the deal and your ability to execute it.

  • No – no income verification is required for our loans. As a private lender, we base decisions on the property’s value and cash flow more than your personal debt-to-income. You won’t need to provide personal income documents; your credit, liquidity, and the deal economics are what matter.
  • These loans are asset-based, so we do not ask for tax returns, paystubs, or DTI calculations. The property’s value and potential rent (for DSCR loans) carry more weight. 

  • Yes, we do consider loans to foreign nationals (non-U.S. residents), though the requirements may be a bit stricter. Many private lenders work with foreign investors – typically requiring a U.S. entity and larger down payment. We generally require an ITIN or passport, a U.S. bank account, and higher equity contribution for non-resident borrowers. Please contact us for specific terms.

  • We welcome foreign national investors, with some additional conditions. You’ll need to borrow through a U.S. LLC and often provide a higher down payment and upfront reserve. Although our standard FAQ doesn’t list this, it’s a common industry accommodation – reach out and we can outline the terms for international borrowers.

  • You should plan for roughly 20-25% down on most deals. We generally finance up to ~75-80% of the purchase price (and can often fund 100% of rehab costs). As a rule, expect to invest at least 20% cash into the deal.
  • We typically lend around 70-80% of the property’s value, so you’ll need to cover the remaining 20-30% as your down payment. In short, 100% financing is not common – plan on putting in some equity. The exact down payment can vary by deal; experienced investors or very strong deals might get higher leverage.

  • Yes – we can finance 100% of the rehab budget, provided the numbers make sense (loan total staying within our ARV/LTV limits). You can expect us to fund the purchase plus renovation; you only need to bring the required down payment and some contingency funds.

  • Our typical loan amounts range from around $100,000 on the low end up to $5 million or more on the high end. We do have a minimum (generally ~$100k) to ensure deals are economically viable. For perspective,  small loans usually need to be above ~$100k, and we have the capacity to fund multi-million dollar portfolio or construction loans as needed.
  • We do not impose a hard cap on the number of loans or total dollars outstanding per investor – as long as each deal meets our criteria. Our goal is to grow with our clients. Some traditional banks limit exposure, but private lenders are more flexible. We evaluate each new loan on its own merits (and consider your track record), rather than capping you after a certain number of deals.

Loan Terms & Costs

  • Our interest rates are competitive in the private lending market, generally ranging from single digits into the low teens. The exact rate depends on the loan type and your qualifications. Our fix-and-flip loans might start around 9–10% and rental/DSCR loans in the 7–9% range (these can fluctuate with market conditions). We’ll provide a customized quote after reviewing your scenario.

  • We typically charge an origination fee of about 1–3% of the loan amount (“points”). The exact points depend on the deal; more experienced borrowers or lower-LTV deals might be at the low end.  In addition, we have standard processing/underwriting fees (often a flat admin fee).

  • No – we don’t charge upfront fees just to apply. You can submit an application and get pre-qualified without paying any fee. We only collect fees if and when your loan closes (apart from third-party costs like appraisal).

  • Fix-and-flip (bridge) loans: No, there is no prepayment penalty on our short-term bridge loans – you can pay off early without a fee. 
    Rental loans: For long-term rental/DSCR loans, we can offer options both with and without prepay penalties. Many 30-year investor loans include a prepayment clause (e.g. 3- or 5-year lockout or penalty for early payoff) in exchange for better rates. We can structure loans with no prepay or with a modest prepay period depending on your needs .

  • Our bridge loans for flips are short-term, usually 12 months (with extensions available), while our rental loans are long-term 30-year mortgages. If a project needs a bit longer, we can often extend a flip loan to 18 or 24 months. But generally, expect about one year for rehab loans and up to 30 years (fully amortizing or interest-only periods) for rental loans.

  • Our standard loans are recourse loans with a personal guarantee from the borrower/guarantor. This is typical for most private lenders on 1-4 unit investments – you will sign a personal guarantee, making you personally liable if the LLC cannot repay. However, for certain rental portfolio loans or multifamily loans, we can offer non-recourse financing options. 

  • In addition to interest and origination points, you’ll pay standard closing costs: e.g. appraisal fee, title insurance, escrow/attorney fee, and sometimes a doc prep or processing fee. 

Application & Funding Process

  • It’s easy – you can apply online via our website or give us a call to discuss your deal. Our online application is short (it takes only a few minutes to input the property and your info).  Once we receive your application, we can typically issue a term sheet or quote within 24 hours.

  • We move very fast. Pre-approval (or initial term sheet) can often be provided within 24 hours, and we can close in as fast as 5-10 days on typical deals. Actual timing depends on third-party items (appraisal, title) but we prioritize speed – a 1-2 week closing is our norm, with the capability to do 2-3 day rush closings on urgent opportunities.

  • We provide a quick pre-qualification (term sheet) based on your application, but we do not issue an official “blanket” pre-approval letter before identifying a property. Once you apply for a specific deal, you’ll get a pre-qual summary with estimated terms within minutes in many cases . If you need a Proof of Funds letter to make offers, we can certainly issue one showing you are approved up to a certain purchase price – that’s a common service we offer investors.

  • After you submit the application and we issue terms, the basic loan process is: we’ll collect some documents (entity docs, etc.), order an appraisal (if needed), and do our underwriting due diligence. Once the appraisal and title are in and all conditions are satisfied, we proceed to closing where loan docs are signed and funds are wired. 

  • The closing process is straightforward and typically much faster than a conventional mortgage. After approval, we coordinate with the title/escrow company to handle closing. You’ll review and sign the loan documents (either with a mobile notary or at the title office), then we fund the loan shortly thereafter. Anchor Loans mentions funding happening often the same or next day after final approval – we similarly aim to fund immediately upon clearance of all closing conditions. Throughout, our team will keep you updated so you know exactly what’s needed at each step until your loan is closed.

  • For rehab or construction loans, we fund the renovation budget in escrow and you’ll request draws as work progresses. Typically, you submit a draw request with invoices or a progress report, we send an inspector to verify the completed work (within a day or two), and then we release funds to you for that phase. Our process is quick and efficient. You can usually take multiple draws, and we aim to reimburse your rehab costs promptly so you can keep the project moving.

Servicing & Loan Management

  • We have an in-house servicing team that will manage your loan after closing. You’ll get access to an online portal where you can view your loan balance, due dates, and make payments. We provide a user-friendly portal for autopay or one-time ACH payments. You can also always contact our servicing department if you have questions about your payoff amount, payment history, or escrow.

  • We require you to keep standard hazard insurance (property insurance) on any property securing the loan, at least equal to the loan amount or replacement cost. Additionally, title insurance is required at closing. If it’s a construction project, builder’s risk insurance is typically needed. We’ll let you know the exact coverage requirements, but expect to maintain property insurance throughout the loan term naming us as a mortgagee.

  • Yes, we do offer loan extensions on fix-and-flip/bridge loans if needed, typically in 3- to 6-month increments (with a fee). The key is to contact us before your loan’s maturity. Our extension fee is usually a modest percentage of the loan (e.g. 0.5%–1% for a few months). As long as you’ve kept the account in good standing, we’re flexible in extending the term to give you time to finish or refinance your project.

  • Simply contact our servicing department with your intended payoff date, and we will generate a payoff statement (good through that date). The payoff quote will include any accrued interest up to the payoff day. Usually you’ll receive your payoff letter by the next business day. At payoff, funds can be wired to the designated account, and once received, we’ll release the lien on the property.

  • Yes, we offer a seamless flip-to-rental refinance option. If you initially use our fix-and-flip bridge loan and decide to keep the property as a rental, we can refinance you into our 30-year DSCR rental loan program once the property is stabilized.  We don’t charge a prepayment penalty on the flip loan, so you’re free to refi with us internally. Essentially, you can purchase, renovate, then refinance into a long-term loan all within our platform, making the BRRRR strategy easier.

  • We aim to provide continuity in servicing. Your monthly payments will typically be made to us or our designated servicer, and you’ll have access to support for any loan administration needs. It’s common in this industry for loans to be sold behind the scenes – however, that doesn’t affect your terms, and often the original lender (or their servicing partner) continues handling the loan.  Similarly, we maintain a high level of service even if the loan changes hands internally.

Becoming a Broker Partner

  • Yes – We have a dedicated Broker Program (Third-Party Origination program) for mortgage brokers and referral partners. In fact, many of our loans are originated via broker partnerships.

  • Joining our broker program is simple: you’ll fill out a broker application and sign our Broker Agreement. This can often be done electronically. Once you submit your info (proof of licensing if applicable, etc.) and sign the agreement, you’ll be approved and able to start submitting deals immediately.

  • In most states, no mortgage broker license is required for commercial-purpose (business-purpose) loans, but it does vary by state. We do not require brokers to have a license except in states where law mandates it (e.g. California and Arizona often require broker licensure for these loans ). You should be aware of your state’s regulations.

  • Brokers have access to our full range of loan programs – fix-and-flip, bridge, new construction, 30-year rentals, multifamily, etc. We don’t hold any product back. This means you can offer your investor clients the same diverse solutions we offer direct.

  • Yes – we operate with a strict broker-protection ethos. When you bring a client, that client remains yours, and we will not circumvent you. Many brokers ask this, and rest assured we do not solicit your borrower for other business outside of your transaction. This professional courtesy is a cornerstone of all reputable lender-broker relationships.

Broker Compensation & Process

  • Our program is very broker-friendly: you can earn up to 3% or more on each deal. We allow brokers to charge origination points to the borrower – typically up to 2–3 points – and we can also pay yield spread in certain cases. In practice, you have flexibility on how to structure your fee, and we’ll transparently include your compensation in the loan documents.

  • You receive your broker fee at closing. Your commission (points) will be detailed on the Closing Disclosure or settlement statement, paid out of closing proceeds.

  • Yes – we can pay referral fees to individuals or businesses who just refer a client to us, provided it’s compliant with state laws. If you prefer a lighter touch (just sending us a lead), we have a referral partner option.

  • We equip our brokers with a full suite of tools and support: access to our online broker portal for pricing and pipeline tracking and dedicated account executives for scenarios. We also provide quick scenario guidance – you can email or call our team for pricing/prequalification in minutes. Our goal is to make it easy for you to work with us and scale your business.

  • The process for appraisals, title, etc., on brokered loans is essentially the same as for direct loans – we will order or coordinate them, or you can in some cases. As a broker, you just need to ensure your borrower pays for the appraisal when due (usually via credit card). We’ll accept existing reports if they meet our criteria, but typically we’ll facilitate new third-party reports to maintain consistency.

  • Yes, through our Blufin division you can work with your Account Executive to learn more about industry leading white label process. 

  • We pride ourselves on quick responses to brokers. Initial scenario/pricing feedback is often immediate (within hours), and formal term sheets can be issued same-day for qualified deals. Underwriting of a full package generally takes just a couple of days. Our closing speed for brokered loans is just as fast as for direct borrowers – we’ve closed brokered deals in a week when all docs are in. Essentially, using a broker doesn’t slow anything down on our end. Brokers like working with us because we give fast approvals and clear communications, which mirror the timelines quoted directly to investors .

  • If a deal isn’t a fit for our programs, we try to help brokers by referring it within our network or suggesting alternatives. We value the relationship, so rather than just saying no, we might connect you to another lending partner.

  • Once you’re signed up as a broker, we’ll provide you a with a login to our broker portal where you can access our up-to-date resources.

  • Not at this time, but reach out to our team if you have questions.

  • By partnering with us, you gain a reliable lending ally that offers competitive products, protects your commissions, and makes you look good to your clients. We combine excellent rates and leverage with a tech-forward and efficient process that enables you to be successful.