Trusted North Carolina Hard Money Lenders for Real Estate
Best in class asset backed lending for purchasing, renting and flipping non owner occupied properties in North Carolina real estate markets.
Why Choose 14th Street Capital for Hard Money Loans in North Carolina
The Local Advantage
The growing job market and influx of investors from other states has resulted in a boom in the real estate markets of North Carolina.
Cities such as Charlotte, Raleigh, Wilmington, Asheville, Greensboro, and Durham are seeing a huge influx of investors with all time low inventory, making hard money loans your best bet at succeeding in such competitive markets.
Here are the major benefits of opting for a hard money loan when investing in real estate markets in the state of North Carolina.
Hard Money Lenders In North Carolina Cities
Hard Money Lenders North Carolina
Trusted By Real Estate Investors in North Carolina
As local lenders based out of North Carolina, we at 14th Street Capital take pride in our relationship-focused approach to hard money loans. With years of experience serving the needs of real estate investors looking to grow their portfolio and build their wealth, we remain invested in our clients’ success.
As real estate investors ourselves, we not only provide the funding, but we also act as local consultants for our investors. Whether it is ensuring the best interest rates possible or putting you in touch with the best contractors in town, we remain committed to your success.
Real Estate Investing Made Easy With Hard Money Loans
History of foreclosures? Self employed? Bad credit score? Our hassle free hard money loan offerings make real estate investing easy irrespective of all the shortcomings which may rule out conventional funding sources.
With property serving as collateral in case of hard money loans, investing in real estate was never simpler. Whether you are a novice investor or a seasoned one, 14th Street Capital’s hard money loans are your go-to funding source for investing in real estate markets of North Carolina.
Wide Range of Hard Money Loan Offerings for North Carolina Real Estate Investors
Private lending with fast approvals for flippers looking to purchase their next fixer-upper, carry out remodeling and flip the property for profit in North Carolina.
Looking to build a rental portfolio and start earning as a landlord in North Carolina? Long term asset-backed funding in the form of rental loans is all you need to get started.
Leverage the equity from your current investments and make sure that you don’t miss out on your next real estate project due to capital challenges with bridge loans to invest in North Carolina.
FAQs For Choosing A Hard Money Lender In North Carolina
1. How much time does it take to disburse money from a hard money lender?
At 14th Street Capital, loan approvals take place in a span of 24-48 hours based on the complexity of your application. The disbursement of funds takes place within a week from the approval, which is marginally lower than the 30-60 days timeline when opting for a conventional loan from the banks.
3. Does my credit score have an impact on hard money loan approval?
Unlike conventional lenders like banks and credit unions, hard money lenders like 14th Street Capital do not use credit score as a qualifying criteria. Instead, the property itself acts as a collateral when applying for a hard money loan. Moreover, hard money loans such as a fix and flip loan do not generally appear on your credit report. However details of hard money loans that you take do appear in the background search and asset reports.
5. How are the hard money interest rates calculated at 14th Street Capital?
At 14th Street Capital, we take a tailored approach to every hard money loan application. Every transaction is unique and the interest rates applicable depend on a number of criteria such as the property type, cash flow availability, past relationship of the borrower with 14th Street, etc. That being said, we do offer the most competitive interest rates for investing in the real estate markets of North Carolina.
2. What information do hard money lenders need for approving a loan?
Hard money lenders like 14th Street Capital have minimum documentation requirements for loan approval and processing to take place. Since the approval is based on the value of the real estate investment rather than the creditworthiness of the borrower, all information you need to submit is your repayment strategy. This includes a plan for fixing and flipping or renting the property, the amount of repairs that you would need to make on the property and details about the property valuation. Other than this you just need to have the requisite down payment amount (25-30 percent of the overall loan) to show that you have teeth in the game.
4. Do I have to pay a prepayment penalty in case of hard money loans?
As hard money loans like fix and flip loans and bridge loans are generally short-term loans, hard money lenders do not charge a prepayment penalty and there are rarely penalties if you choose to pay off your loan ahead of schedule. In case of longer term hard money loans such as rental loans or landlord loans, lenders may charge a prepayment penalty if loan repayment is done in the initial years. However, this amount is very less as compared to conventional lending sources.
6. What areas does 14th Street Capital lend in?
14th Street Capital provides hard money loans for non-owner occupied properties in all the leading real estate markets in the state of North Carolina. Here are some of the markets that we offer hard money loans in.