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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:

  1. Executed Purchase Contract
  2. Itemized Budget of Repairs
  3. Photos of Property

Loan Amounts

$65,000 to $1,000,000

Interest Rates

9.99% to 13.75%

Max Loan-To-Value

75.00%

Max Loan-To-Cost

100.00%

Origination Fees

2.5% to 3.5%

Loan Terms

6 months to 9 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Value Add Project
  • Development Project

Property Occupancy

  • Vacant

Property Geographic Area Details

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

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

90.00%

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

1

Max LTC for Ground-Up Construction Costs

88.00%

Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects

yes

Details and Requirements

Typical Closing Time (Days)

3

Fastest Closing Time (Days)

1

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only

Pre Payment Penalty

no

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

no

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

  • LLC

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.

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

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

$
%
months

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

(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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%

(temp use, storage, billboard, parking, etc.)

$
$
$
$
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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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$
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how will the loan be paid off?

acres

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acres

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Completed Transactions

Old North Capital Fund

Private Loan Funding
Kannapolis, NC
$145,000
Single Family Residence

Residential Fix and Flip

View Transaction

Old North Capital Fund

Private Loan Funding
Charlotte, NC
$180,000
Single Family Residence

Residential Fix and Flip

View Transaction

Old North Capital Fund

Private Loan Funding
Charlotte, NC
$293,000
Single Family Residence

Residential Ground-Up Construction

View Transaction