Hard Money
Private Money

Richmond Mortgage Inc.

Hard Money, Private Money

How It Works

The Richmond Mortgage Inc. lending process is designed to be fast, low-doc, and effective for borrowers working on a rapid turnaround. Here’s how it works:

Step 1: Fill out our five-minute online loan application or call us to start the process. (No credit application and NO credit check required.)

Step 2: We’ll review your application, based on the property.

Step 3: Once we receive all the information, we can provide you with a Proof of Funds Letter as quickly as 24-48 hours. When the title work is complete, we’ll move to a quick close.

Step 4: As you build or renovate, we’ll disburse funds in draws. You can call upon our quick and easy construction-draw process: We’ll write checks directly to contractors, subcontractors, and suppliers—so your project keeps moving!

Our Lending Terms

  • RMI offers commercial loans (registered business entities only), with your single-family and multi-family homes, commercial properties, and land as collateral.
  • Our maximum loan-to-value ratio (LTV) is 70% of the after-repair value on a single-family home.
  • LTVs for multi-family homes, commercial properties, and land may vary.
  • APR: 8% to 16%.
  • Payoff timeline: 9 to 12 months.
  • Pre-Payment: No pre-payment penalty
  • No up-front closing fees or points: You pay points when you sell or refinance your property, of 2% to 10% of the loan amount.

Where We Lend

  • Richmond*
  • Roanoke
  • Fredericksburg
  • Hampton Roads
  • Virginia Beach
  • Northern Virginia
  • Southern Maryland
  • Washington, D.C.

*No loan minimum in this municipality. Projects in all other areas have a $50,000 minimum loan requirement.

Fill out the five-minute loan application or call us now at (804) 249-2887 to kick-start the next step of your investment success story.

Richmond Mortgage Inc.

Richmond Mortgage Inc.