Hard Money Lenders in Cary, North Carolina

By admin, Hard Money Lenders IO

Hard Money Lenders in North Carolina

Cary is a city in Wake County and Chatham County and is considered the seventh biggest city in North Carolina, as well as the 150th biggest city in the United States. It is considered a Raleigh suburb but is almost a city in its own right. It is also a railroad town and an educational center within the state — Cary has had rapidly growing population, and it’s also a place where almost 70% of people have a bachelor’s degree or higher. It is also one of the wealthiest ZIP codes in North Carolina, which can make it expensive to live in. It is considered one of the safest places to live in the whole country. 

Cary gives a dense suburban feel and is a place most people own their homes. There are many families who live in Cary, and it is considered a place with terrific public schools. It has a median home value of $376,600 and a median rent of $1312. It is considered one of the best places to raise a family not only in North Carolina but in the whole country. 

Right now, Cary is a seller’s market. It’s a place where demand is rapidly outpacing supply. There just isn’t enough available housing to meet buyer demand. It’s a housing bubble where real estate investors are getting into bidding wars over the best real estate in Cary. Homes are selling fast and for higher than listing price.

Hard money loans might be the best way to invest in real estate in Cary. Hard money loans are typically used for fix and flips, long-term rentals, and construction projects. Hard money loans give a huge advantage to real estate investors in seller’s markets like Cary — they can give very fast speeds of approval. This is a tremendous advantage because it can make investors instantly competitive. Hard money loans can be approved in a couple of days, which is significantly faster than traditional mortgage loans, which can take a month or more to be approved. Investors can put down faster bids to become more attractive buyers.

Hard money loans can be approved so quickly because they’re based on the property, not the credit score of the borrower. The property is the asset and the lender always based the rates and terms of a hard money loan on the after repair value of the property. The lender still requires a minimum credit score of 600 to 620, and a good credit score can help real estate investors get better interest rates. Hard money loans also use the property as collateral. If a borrower defaults on a mortgage, the bank forecloses on the property. But if a borrower defaults on a hard money loan, the lender takes on the property in a very fast process. Every hard money lender is prepared for this process so they can make money flipping the home themselves.

Hard money loans subsequently have tons of risks and disadvantages. They are associated with higher interest rates, shorter repayment periods, and lower LTV ratios than traditional mortgage loans. Hard money loans have interest rates of 8–15%, repayment periods of more or less a year, and LTV ratios of 65–75%. By contrast, mortgages have interest rates just over 5% on average, repayment periods of 30 years on average, and LTV ratios of 80%.

It’s important to only trust the best hard money lenders, which is why we at Hard Money Lenders IO have made a list of the best hard money lenders in Cary.

Hard Money Lenders IO

The team at Hard Money Lenders IO have been lending on investment properties to real estate investors. Every member of our team is dedicated to providing the clients we serve with fast, affordable financing solutions so that they can have access to the funding they need. Hard Money Lenders IO has adjustable guidelines and customized lending programs for borrowers.

Loan Amounts from
100K to 5M+

Rates starting at

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LendingOne is a private money lender, specializing in the financing of non-owner occupied residential investment properties. Lending One provides Mortgage Brokers and Real Estate Investors with a fast and cost effective funding source for their real estate investment needs.

LendingOne uses our own capital, an easy online application and our extensive real estate experience to provide quick and reliable funding for our clients.

Our Loan Programs include:

Fix & Flip
Buy & Hold
Rate & Term
Cash Out Refinance
Bridge Financing
Wholesale Lending

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