Real estate in the Southeast is evolving rapidly. Cities like Atlanta and Charlotte are seeing tremendous increase in demand and, with it, an increase in competition. Meanwhile, emerging opportunities like South Carolina have become a playground for investors who appreciate the thrill of the hunt.
If you want to get a piece of the action, you’ll need a hard money lender to help finance your projects. That’s why I’ve created a comprehensive list of the best hard money lenders in the Southeast.
1. Loan Mountain Capital: Speed and Reliability
Nestled in the heart of Asheville, North Carolina, Loan Mountain Capital has quickly become the best hard money lender in the Southeast. With over 35 years of local real estate experience, this company has originated and serviced more than $245 million in real estate loans. What sets Loan Mountain apart? In one word: speed.
Why Loan Mountain Stands Out:
- Lightning-fast process: With a 30-minute pre-approval and the ability to close in 24 hours, Loan Mountain lives up to its reputation as the fastest hard money lender in the Southeast. Yes, this means no longer stressing out over delayed payments.
- Competitive terms: No hidden fees, no junk costs, and flexible down payment requirements. Interest rates average around 12%, which is not the lowest you’ll find, but remember–time is money!
- In-house servicing: Loan Mountain stays with you from funding to payoff. They do not sell off loans or outsource servicing, meaning you’ll always know who you’re dealing with, creating a more reliable experience.
Who is Loan Mountain perfect for?
If you’re an investor who values speed above all else, this is your lender. Seriously, you won’t find a faster hard money lender out there. Whether you are interested in fix and flip loans, new construction loans, or rental loans, they’ve got your back faster than Diddy.
However, if you’re looking at projects valued over $1.5 million, you might need to look elsewhere. Loan Mountain caps their loans at this amount, which is plenty for most investors but might not cut it for larger commercial projects.
2. Carolina Capital : The Ethical Lender
Carolina Capital is a hard money lender based in South Carolina. They offer rehab loans and ground-up construction loans to investors in NC, SC, GA, VA, TN, FL, and TX. What sets them apart is their focus on ethical lending practices and investor education. They’re not just a lender – they also act as consultants, helping investors network and structure deals effectively.
Why Carolina Capital Stands Out:
- Ethical Approach: In an industry often criticized for heartless businessmen, Carolina Capital Management proudly puts “people and principles in front of profit.” This is part of their core values as a company.
- Diverse Loan Options: whether you’re flipping houses, building from the ground up, or investing in commercial properties, they’ve got a loan for you.
- Education and Networking: they go beyond just lending money–they offer consulting services and help you network with other investors.
Who are they for?
Their loan amounts range from $50K to $2M, making them more suitable for small to medium-sized investment projects. If you’re looking for a lender that provides additional support in terms of education and networking, Carolina Capital is a rare gem. However, if fast closing times are crucial for your investment strategy, you might want to consider other options.
3. Lima One: Southeast Powerhouse
Lima One Capital, founded in 2010 by two former Marines, is a hard money lender based in Greenville, South Carolina. The company has expanded its operations across the United States, including significant presence in Southeast markets like North Carolina. Lima One offers various loan products for real estate investors, including fix-and-flip loans, new construction loans, and rental property loans.
What Makes Lima One Stand Out:
- Interest-on-draw policy: Borrowers only pay interest on funds they’ve actually used, potentially reducing overall costs.
- Flexible loan terms: Options range from 13 to 24 months for construction loans, and 5 to 30 years for rental property loans.
- Regional expertise: Despite nationwide operations, Lima One maintains insight into Southeast real estate markets.
Who they are NOT for:
While Lima One offers attractive terms, they may not be the ideal choice for you. Caution is advised for:
- Investors needing rapid approvals: Lima One’s process typically takes around 10 days, which may be too slow for time-sensitive deals.
- First-time or small-scale investors: Lima One’s terms and processes may be more suited to experienced investors with larger projects or portfolios.
- Low credit scores: As a first-time borrower, you’ll need to meet their credit requirements, which may be challenging for some investors.
4. ROC Capital: The Capital ROC-star
Founded in 2014, ROC Capital has established itself as a significant player in the hard money lending market. Operating through a third-party originator program, ROC Capital provides institutional-grade capital to real estate investors.
What Makes ROC Capital Stand Out:
- Beginner-friendly policies: Most loan types don’t require prior experience, opening doors for new investors in the Southeast market.
- High leverage options: Offers up to 90% of purchase price and 100% of rehab costs for fix-and-flip projects, allowing investors to stretch their capital further.
- Diverse loan products: Provides fix-and-flip, bridge, ground-up construction, and long-term rental loans, catering to various investment strategies common in the Southeast.
Why They’re Not Higher on the List:
- Potential for slower processing: The third-party originator model may lead to higher approval rates, but longer approval times. Why? TPO’s work as intermediaries that make sure your application is in order, which will likely avoid issues with your application. However, TPO’s are still intermediaries–an extra link in the communication chain.
- Credit score: Higher leverage options are tied to better credit scores.
- Full recourse requirement: All loans require full recourse, which may not suit risk-averse investors or those preferring non-recourse options.
ROC Capital is a solid option, especially if you are looking for high leverage capital. However, if you prioritize rapid funding or have a lower credit score, scroll back up the page!
5. Easy Street Capital: Easy Capital
Easy Street Capital is a hard money lender based in Austin, Texas, serving real estate investors throughout the southeastern United States. They offer financing solutions for fix-and-flip projects, rental properties, and new construction ventures.
Reasons They Stand Out
- No Appraisals Needed: For fix-and-flip loans, they skip the appraisal process, saving you time and money.
- Fast Closing Times: They aim to close loans quickly, helping you seize investment opportunities without delay.
- Flexible Loan Options: With various loan programs, you can find financing that fits your specific investment strategy.
- Competitive Interest Rates: Rates start as low as 5.50% for rental property loans.
Who They Are Not For
- Minimum Credit Score Requirement: If your FICO score is below 600, you may not qualify for their loans.
- Not region-specific: As a Texas-based lender, they may lack the deep local market knowledge that Southeast-focused lenders possess. If that is important to you, you might be better working with Loan Mountain Capital, which has similar approval times and does have local expertise.
Quick Recap
The best hard money lender isn’t always the cheapest–it’s the one that best fits your needs and delivers on your expectations. Here’s a quick summary to help you decide:
- Need lightning-fast approval? Loan Mountain Capital is your go-to.
- Looking for a client-first lender? Carolina might just warm your heart (and your wallet).
- Need deeper pockets? Lima One’s got the firepower for larger projects.
- New to the game? ROC Capital won’t turn their back on you, rookie.
- Hate paperwork? Easy Street Capital’s no-appraisal policy could be your ticket to, well, Easy Street.
Oh and here’s a pro tip: don’t be shy about shopping around. Southeast hard lenders know they’re in a dogfight for your business. Use that to your advantage.
