The 5 Best Hard Money Lenders in Raleigh

Raleigh’s housing market has seen steady growth over the past several years. Home prices have risen consistently, and demand for properties—both residential and commercial—remains high. These trends suggest a favorable environment for real estate investment.

However, securing funding is often the hardest part of real estate investment. Traditional lenders require tons of paperwork and are not agile enough to accommodate the market. Hard money lenders, on the other hand, can be a great alternative since they have a lower barrier of entry and are built to keep up with us investors.

With that in mind, here’s my list of the best hard money lenders in Raleigh that can help you finance your next adventure.

In this article: the best hard money lenders in Raleigh

  1. Loan Mountain Capital (my top pick for speed and reliability)
  2. Carolina Hard Money
  3. Lima One
  4. Alfie Loans
  5. New Silver

Logo of hard lender Loan Mountain Capital, overlayed an image of a house

Loan Mountain Capital – fastest hard money lender in Raleigh

If you’re investing in Raleigh, Loan Mountain Capital is worth looking into. They’ve been in the business for over 35 years, founded by real estate investors who understand what we need—mainly speed and reliability. They’re based in Charlotte, but they operate throughout the Southeast, and they’ve earned a solid reputation in Raleigh.

Why They’re the Best

What makes Loan Mountain stand out to me is how they handle the essentials: fast closings, dependable draw schedules, and the fact that they don’t rely on FICO scores.

  • Fast Closings: they claim to close in 24 hours. While it might not always hit that mark, they’re still faster than most other lenders I’ve dealt with, and that really matters when time is tight.
  • Reliable Draws: a lot of lenders promise smooth access to funds, but Loan Mountain actually delivers on that. I’ve had no issues with their draw schedules, which, as you probably know, can be a major pain with some lenders.
  • No FICO Minimum: they don’t require a minimum FICO score, which is refreshing. It makes it easier to get funded, even if your credit isn’t perfect.

Loan Terms

Here’s what they offer in terms of loans:

  • Fix and Flip Loans: no appraisal needed, 6 to 12-month terms.
  • New Construction Loans: terms range from 9 to 18 months.
  • Rental Loans: up to 30-year terms, and again, no appraisal required.

Loan amounts range from $50k to $1.5 million, covering most typical investment projects. Their rates hover around 11.8% to 12%, which isn’t the lowest, but I’ve found it’s worth it for the reliability and speed you get in return.

Logo of private lender Carolina Capital, overlayed an image of modern house

Carolina Hard Money – good for Beginners

Carolina Hard Money earns the second spot on my list. No, they don’t offer the most affordable loan terms and they definitely won’t win any award for funding speed. So why are they in second place? While they might not be the best lender, they do get a lot of things right. First, they have strong company values–fees, points, and expected interest rates are displayed throughout the website and disclosed before your final signature. Second, they value client relationships and are willing to help you along the way. If you’re looking for a lender with a strong focus on customer support, they’re worth considering.

Why They Stand Out

  • Customer Service: they don’t just hand over a loan and call it a day. Their team is responsive and easy to work with, which is something I appreciate..
  • Deeper Pocket: they can handle larger loan amounts compared to some of the other local lenders, going up to $5 million. That’s a big plus if you’re working on larger projects.

Loan Terms

  • They do tend to be on the more expensive side, charging around 3 to 3.5 points on most loans.
  • Fix and Flip Loans: up to 90% of the purchase price and 100% of rehab costs, with interest rates starting at 11.9%.
  • New Construction Loans: up to 85% LTC, with terms up to 12 months.
  • Rental Property Loans: for long-term financing, expect 30-year terms with rates around 7%.

One thing to keep in mind is their closing times. With an average of about 10 days, they’re on the slow-end of the spectrum. But once you’re past the closing process, they make up for it with solid service.

Logo of hard money lender "Lima One Capital" overlayed an image of a house with blue paint

Lima One Capital – national lender with local vibes

Lima One Capital is a national lender headquartered in Greenville, South Carolina. Founded by two former Marines back in 2010, they’ve built up a solid track record across the country including North Carolina. I usually prefer working with local lenders who really know the area. Lima One is one of the few national lenders with first-hand experience in Raleigh.

Why I Like Lima One

A few things, in particular, caught my attention:

  • Interest only on draws: you only pay interest on what you actually use. If you don’t need the full loan amount right away, you won’t be stuck paying interest on money that’s sitting there.
  • Good leverage: their loan-to-value (LTV) and loan-to-cost (LTC) ratios are solid. For fix-and-flip deals, they’ll cover up to 92.5% of the project’s total costs and 75% LTV. New construction loans go up to 90% LTC, giving you lots of leverage.

Loan Terms

  • Fix and Flip Loans: they’ll go up to 92.5% LTC and 75% LTV, with interest rates starting around 12%. If you’ve got some flips under your belt, they might even go as low as 7.99%, which is a nice bonus for experienced investors.
  • New Construction Loans: you can finance up to 90% of the costs, and choose from 13, 19, or 24-month terms.
  • Rental Loans: they offer terms up to 30 years, which is standard for hard money lenders in Raleigh.

One thing to keep in mind—Lima One isn’t the fastest when it comes to approvals. Their process usually takes about 7 to 10 days, so if you need quick capital.

Logo of Alfie Loans, a hard money lender, overlayed an image of a remodeled kitchen

Alfie Loans

Alfie Loans is one of the younger players in the scene, but they’ve grown plenty since its launch in 2015. With over 1,000 deals closed and $430 million in originations, they’re one of the local hard money lenders that you should keep in mind if you’re looking for local options. If you value straightforward communication and transparency, Alfie is worth considering.

Why I Like Alfie

  • Transparency: they break down everything you’ll be paying, from the $150 draw fee and $800 documentation charge to the 2% origination fee. It’s not the cheapest, but I’d rather know exactly what I’m getting into than be surprised later. Plus, they’ve got a loan calculator on their site that gives you a clear picture of the total cost before you even start the process.
  • Local Knowledge: while based in Asheville, Alfie has a strong presence in the Raleigh market. I’ve found that their familiarity with the local landscape can be really helpful, especially when navigating zoning issues, permits, and other area-specific paperwork.
  • Consistent Terms: Alfie sticks to a 12% interest rate across all their loans, regardless of the deal. If you’re hoping to negotiate a lower rate, you might have better luck with someone like Loan Mountain Capital or Carolina Hard Money.

Hard Money Lender Logo, New Silver, overlayed an image of kitchen with hardwood floors

New Silver

New Silver doesn’t have the local expertise that is so important for developing long-lasting relationships, but they’ve carved out a niche for themselves in Raleigh’s real estate scene. They’ve achieved that by having one of the quickest approval rates of hard money lenders in Raleigh. So if you are in dire need of proof of funds, they might be able to help you out.

Why I like New Silver

  • Speed and Efficiency: you can get an approval online in just 5 minutes, and they even offer an immediate proof of funds letter.
  • Personal Loan Options: something unique about New Silver is that they also offer personal loans, which can be helpful for cash flow. They range from $1,000 to $100,000, starting at a 7% interest rate. It’s a nice bonus if you’re juggling multiple deals or just need some extra liquidity.

Choosing the Right Hard Money Lender in Raleigh

The right choice really depends on what you value most as an investor. If speed and reliable funding are top priorities, then Loan Mountain Capital stands out as the best option. Their fast closings and flexible terms are hard to beat. Carolina Hard Money offers a solid, relationship-focused experience and good flexibility, though you’ll have to plan for longer closing times. Lima One Capital has a strong reputation and diverse loan options, making them a good fit for more seasoned investors who need flexibility.

Alfie brings a local touch and clear terms, which can be appealing if you’re looking to work with a lender who knows the Raleigh market inside and out. And finally, New Silver rounds out the list with its quick approvals and diverse loan products, ideal for investors who value speed and convenience.

Each of these lenders has something to offer, so take your time to compare terms, rates, and approval processes to see which one aligns best with your goals. With the right lender by your side, you’ll be well-equipped to tackle your next investment. Good luck!

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