Who are the Best Hard Money Lenders in Raleigh NC in 2021?
Finding the best hard money lenders in Raleigh is very important to your real estate profit. Whether you’re new to real estate investing or are an experienced investor, your Raleigh hard money loans can end up costing you thousands of dollars if you don’t spend time selecting the best lender. An unfavorable hard money loan can cost you thousands and thousands of dollars. On the flip side, a good hard money loan can provide the financing you need to make a deal possible and profitable. Raleigh private money lenders can give you the buying power you need to secure your deal.
Respectable looking hard money lenders in Raleigh were difficult to find. The Google My Business results are littered with spammy and incomplete profiles. We’ve compiled a small list of lenders we feel confident in. There aren’t many, but we think you can rely on these lenders.
Loan amounts average around $375-425k. Rates on loans made to Raleigh real estate investors average 11-13%. Most hard money loans average between 12-18 months. The average note includes a 2-4 point origination fee and the LTV offered for loans in Raleigh is between 70-75%.
Here’s our short list of the top 3 Best Hard Money Lenders Raleigh:
- Lynk Capital
- Oakwood Lending
- Peak Capital
Top 3 Best Hard Money Lenders Raleigh NC
1. Lynk Capital
LYNK Capital is a hard money lender based in North Carolina. They boast many decades of experience in the business, with members of their team having either owned or held senior positions in numerous mortgage companies, banks, title companies, and other real estate businesses.
LYNK Capital has funded over $350 million of fix and flip loans. As a direct fix and flip lender, they can offer good terms and fast closings.
Here’s more info about their loans:
- They offer fix and flip loans for single-unit, multi-unit, and mixed-use residential projects
- Up to a maximum 75% of the renovated value
- They fund projects of any size with experience
- Purchases, refinances, and cash out deals are eligible
- Loan-to-value up to 75% LTV
- Loan-to-cost up to 90% LTC
- Loan terms up to 12 months
2. Oakwood Lending
Our next Raleigh hard money lender is Oakwood Lending. They offer a slightly different perspective when it comes to private lending. They are residential property lenders serving North Carolina – primarily in Raleigh, Durham, and Fayetteville. They specialize in providing hard money loans on residential property investments. They work with a range of investors including wholesalers who want to take title or need transactional funding for a double close, flippers who want to rehab and sell, and landlord investors who want to hold their properties after renovation.
They offer to help you evaluate and analyze your rehab and wholesale deals. They can also help you sell at reduced costs with their residential brokerage arm.
Here is more about their loan program:
- Rates from 12%
- 2 points origination
- Max 70% LTV
- Loan amounts up to 300k
#3. Peak Capital
Peak Capital is another Raleigh hard money lender. They’re a reputable nationwide lender based in Raleigh. They offer several programs for rehab, rental, multifamily, commercial and more.
Here’s more information:
LTVs up to 75%
Loan amounts from 250k – 10M
Rates from 10-12%
Terms from 12-24 months
Here’s more about their fix and flip program:
- Funding up to 90% Purchase
- Funding up to 100% Rehab Cost
- Term: 12-months
- Fico: No Minimum
Best Hard Money Loans Raleigh FAQ
Who is the best hard money lender in Raleigh?
Here’s our short list of the top 3 Best Hard Money Lenders Raleigh:
- Lynk Capital
- Oakwood Lending
- Peak Capital
What do Raleigh hard money lenders charge?
Hard money loan rates in Raleigh range from 11 percent to 13 percent for most fix and flip and shorter term loans. Many hard money lenders in Raleigh also charge points or origination fees on a loan that range from 2-4 percent.
Do Hard Money Lenders in Raleigh require appraisals?
With most hard money lenders in Raleigh, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What is hard money in Raleigh?
Hard money loans in Raleigh are loans secured by real estate used to purchase or rehab that piece of property.
These short term loans are used to purchase and/or rehab residential or commercial properties. They’re usually more expensive than traditional loans but can be closed faster and oftentimes with less credit requirements.
