How It Works
The Richmond Mortgage Inc. lending process is fast (1 hour to 24 hour approval), low doc, and NO credit check.
Fill out our five-minute online loan application or call us to start the process. (No credit application and NO credit check required.)
Our Lending Terms
- Fix & Flip, New Construction, Long Term Rental
- RMI offers commercial loans (registered business entities only); 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. Higher loan amounts for long term rentals.
- LTVs for multi-family homes, commercial properties, and land may vary.
- APR: 8% to 12.5%.
- Payoff timeline: 9 to 12 months. Extensions available. Long term loans available for rentals.
- 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.
- 2nd MORTGAGES NOW AVAILABLE
- JOINT VENTURES NOW AVAILABLE
Where We Lend
- Hampton Roads
- Virginia Beach
*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 Mike Krumbein at (804) 414-8690 or Lisa Girardi at (804) 414-0536 to kick-start the next step of your investment success story.