Old North Capital Fund

All cash private money lender in North Carolina. We are not connected to a bank whatsoever, so we do not do appraisals, credit checks, tax records or any formal inspections.

If the numbers make sense and we feel good about the necessary experience, then we fund it. We’ll fund up to 90% Total Costs (Purchase + Renovation) or 75% After Repair Value

To apply we need:

Executed Purchase Contract
Itemized Budget of Repairs
Photos of Property

Property Geographic Area Details

Urban and suburban areas in Greater Raleigh and Charlotte, North Carolina.

Loan Amounts

$65,000 to $1,000,000

Interest Rates

9.99% to 13.75%

Max Loan-To-Value

75%

Max Loan-To-Cost

100%

Origination Fees

2.5% to 3.5%

Loan Terms

6 months to 9 months

Lien Position

Loan Purpose

Investment Acquisition
Value Add Project
Development Project

Property Occupancy

Vacant

Property Types and Loan Types

Collateral Types

Residential Property

Property Types

2-4 Units Residential
Condominium
Single Family Residence

Loan Types

Private Money
Hard Money
Residential Bridge
Residential Fix and Flip
Residential Ground-Up Construction

Purchase Loan

Max Loan-To-Purchase Price

90%

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

yes

Allowed Source of Borrower’s Equity

Own Cash
Partner
Equity in Another Investment Property

Construction Loan

Development Experience Required

yes

Minimum Number of Ground-Up Construction Projects Completed by Borrower

Max LTC for Ground-Up Construction Costs

88%

Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects

yes

Details and Requirements

Typical Closing Time (Days)

Fastest Closing Time (Days)

Works With

Brokers
Borrowers

Payment Structure

Interest Only

Pre Payment Penalty

Will lend to a foreign national

yes

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

yes

Will Consider Collateralizing Multiple Properties in One Loan

Will Consider Equity Joint Venture

Borrower Entity Types Considered

Appraisal Required for Residential Property

Never

Broker Price Opinion (BPO) Accepted for Residential Property

Always

Fees

Legal Fee

This is a standard third party attorney fee that is not associated with our loan. Whatever the attorney charges to close the property.

Additional Details

No other in-house fees whatsoever aside from interest and origination points.

North Carolina’s fastest private money lender. We are an all cash private money lender based in Charlotte, NC. We provide fix & flip, new construction and bridge financing in the major metros of North Carolina.

We specialize in offering true asset-based loans, on non-owner occupied, residential properties for investors who need quick and flexible funding.

Year Established

2016

Office Locations

615 S College Street, Charlotte, North Carolina 28202

Primary Capital Source

Own Funds

Loan Structure for Majority of Loans

LLC Syndicated Investors

Percentage of company’s lending business focused on private mortgage

100%

Percentage of Loans Secured by Residential Property

100%

Percentage of Residential Property Loans Which are Fix and Flip

75%

2017 Number of Loans Funded

100

2017 Loan Volume Funded

$20,000,000

David Seroy

CEO

Loan Request

Deal Name *

Short Description of your Loan Request or Property Address

First Name *

Last Name *

Company

Email *

Phone

Company Phone

Your Location

This information is about yourself, not the subject property.

Country *

State

Province

Country *

State/Province

City *

What is your primary role in this loan request? *

Specify Your Role

Requested Loan Amount *

Loan-to-Value

Preferred Loan Term *

months

Lien Position *

Collateral Type *

Will the loan be collateralized by multiple properties? *

Fill out the form for one of the properties

At the end of the form you can enter the additional properties.

Exit Strategy *

how will the loan be paid off?

Exit Strategy Details *

Subject Property Address

Subject Property City *

Subject Property State *

Subject Property Zip Code

APN Parcel ID Number(s)

Lot Size

acres

Subject Property Photos

Add links to photos here.

	Image
1

Add

Will additional properties be collateralized? *

Additional Properties

Address

City *

State *

Zip Code

APN Parcel Number(s)

Square Footage

Lot Size

acres

Type *

Other Type *

Number of Units

Photos

Add links to photos here.

	Photo Link
1

Add

Borrower Entity *

Other Borrower Entity *

Borrower’s Credit Rating *

Comments

Additional Attachments

Add links to documents, photos, etc.

	Attachment Link
1

Add

704-378-8533 Send Email

Our Minimum Loan Amount Is

$65,000

Lending Profile

Company Profile

Team

Apply

Contact

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Property Geographic Area Details

Urban and suburban areas in Greater Raleigh and Charlotte, North Carolina.

Loan Amounts

$65,000 to $1,000,000

Interest Rates

9.99% to 13.75%

Max Loan-To-Value

75%

Max Loan-To-Cost

100%

Origination Fees

2.5% to 3.5%

Loan Terms

6 months to 9 months

Lien Position

Loan Purpose

Property Occupancy

Property Types and Loan Types

Collateral Types

Property Types

Loan Types

Purchase Loan

Max Loan-To-Purchase Price

Borrower Must Have Property Under Contract

Will Provide Proof of Funds Letter

Will Consider Lending on Purchase from Auction

Allowed Source of Borrower’s Equity

Construction Loan

Development Experience Required

Minimum Number of Ground-Up Construction Projects Completed by Borrower

Max LTC for Ground-Up Construction Costs

Interest Charged for Construction Costs

Will Lend on Partially Completed Construction Projects

Details and Requirements

Typical Closing Time (Days)

Fastest Closing Time (Days)

Works With

Payment Structure

Pre Payment Penalty

Will lend to a foreign national

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

Will Consider Collateralizing Multiple Properties in One Loan

Will Consider Equity Joint Venture

Borrower Entity Types Considered

Appraisal Required for Residential Property

Broker Price Opinion (BPO) Accepted for Residential Property

Fees

Legal Fee

Additional Details

Year Established

2016

Office Locations

Primary Capital Source

Loan Structure for Majority of Loans

Percentage of company’s lending business focused on private mortgage

Percentage of Loans Secured by Residential Property

Percentage of Residential Property Loans Which are Fix and Flip

2017 Number of Loans Funded

2017 Loan Volume Funded

David Seroy

CEO

Loan Request