At NLDS Corp, we provide Hard Money Loans in NC and we offer some of the most aggressive loan programs in the state.
Starting in June 2013 we are now lending 65% ARV (after repair value) to well qualified borrowers with a 660 fico we will lend 100% of the purchase and rehab on 1-4 unit properties with loan amounts from 50k to 750k in all of North Carolina.
We lend up to 65% of the purchase price or value on commercial properties in North Carolina and for loans over 2MM we lend up to 70 or 75% of the value or purchase price.
For our non credit program in 2013
We are lending on 1-4 unit investment properties and commercial properties in all of NC
this is purchase (no rehab funds), refinance and commercial only
Loan amounts from 15k and up
65-80% of purchase price on 1-4 unit investment purchases (no rehab money)
50-65% on 1-4 unit investment property cash out loans
50-75% on commercial properties
Credit not a factor (unless refinance is your exit strategy)
Must show 3 months reserves in the bank on all loans
Seller seconds allowed
100% asset based loan all based on the property appraisal
You must close in a corporate name or an LLC
Contrary to what others believe, there is nothing risky or dangerous about being granted a loan by hard money lenders in North Carolina. This is especially true if you make decisions based on thorough research and comprehensive comparison of the offers of various lenders. The nature behind this popular means of investment does not actually revolve around being required to deal with the firm stance linked to qualification conditions established by other lenders. In fact, the term hard in this popular form of financing can actually be associated to either the ease or difficulty of your proposed project.
Before discussing your proposal with hard money lenders in North Carolina, you should bear in mind that most of the good lenders view every proposed project as unique. Because of the uniqueness of each project, these lenders thoroughly evaluate it to discover its merits and value. One of the most favorable advantages of transacting with hard money lenders is that they enable you to undergo easier application process. The hard money lending industry actually allows you to deal with individual lenders who do not utilize underwriting processes frequently used by banks. Your loan application will undergo a different way of evaluation since these lenders will decide based on how they personally view the property and the project that you propose.
Most people also believe that hard money lenders in North Carolina are extremely risky to deal with. There are lots of mortgage and real estate professionals who collectively perceive hard money as a risky type of loan but those who have actually borrowed it prove that the loan is the exact opposite of risky. Most hard money lenders fully understand the manner through which the collateral used to secure the loan are valued as well as the prevailing market. This means that these lenders have extensive knowledge about the hard money lending industry and about real estate investments. This extensive knowledge makes them capable of providing more favorable loan terms and financing options to investors, individuals and business owners.
With hard money loans,we pride ourselves on getting you closed quickly, which is never possible when getting a loan from a traditional bank. With traditional banks there are several formalities along with paperwork to be completed, submitted and approved, which can take too much time. When you go for a hard money loan, there are no such formalities and the whole process is completed with minimal paperwork. Whether you have low or no credit score or if the property you are taking a loan against is in need of repairs or under construction, you can still get the loan. The down payment is the one major criteria to qualify for a hard money loan and you must have at least 20-40% of the purchase price as down payment. We are a private hard money lender in NC and we structure our loans on either the as is appraised value or the after repair value (rehab loans not available in all areas)
Contact us today to get your hard money loan as we are the leading rehab hard money lenders providing Hard Money Loans in NC.
Apply below for a quick decision on your hard money loan