Carolina Hard Money

About Carolina Hard Money

Carolina Hard Money is private money lender headquartered in Lake Wylie, SC. They offer loans in North Carolina and South Carolina. They provide lending solutions for a variety of needs and situations, including cash out hard money loans, short term loans, short term fix and flip loans, and commercial hard money loans. They offer rates starting at 13.75%, terms between 3 months and 1 year, and loans with a maximum LTV of 70%. They make loans on many property types, including single family, multi family residences, office units, retail units, industrial buildings, mixed use, and apartments.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, Refinance / Cash Out Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family, Office, Retail, Industrial, Mixed Use, Apartment

Areas Served: NC, SC

Lending Guidelines for Carolina Hard Money

Below are the general loan guidelines published on the Carolina Hard Money website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Carolina Hard Money.

Loan Example 1

Minnie finds a townhome in Charlotte, NC to rehab and re-sell. Since she doesn't have enough cash available to buy the $270,000 house outright, she takes out a fix-and-flip loan from Carolina Hard Money. Since the lender agrees to a 65% loan-to-value, Minnie will need to put 35% down and the principle amount of the note will be $175,500. The parameters of the deal dictate a 12% note for 18 months. They also stipulate a 3 point origination fee, which will also have to be paid upon closing.

In addition to paying the $5,265 origination fee, Minnie will also have to fund $94,500 of the purchase with her own funds, or 35% of the sales price. The monthly interest only payments will then total $1,755 to the lender. If Minnie achieves her goal of a $351,000 total sales price when the loan term expires, she would pocket a total profit of $44,145 after re-paying the principle amount and subtracting the cash she contributed at closing, the origination fee, and the monthly interest payments.

Loan Example 2

Lily is a real estate investor in Charlotte, NC. She locates an older property for a rehab project and obtains a hard money loan from Carolina Hard Money with the following paramters:

a) A $170,000 sales price, b) a 80% loan to value (LTV), c) a 6 month term, d) a 12% interest rate, and e) a 4% origination fee.

Lily intends to list the property when the note expires for $246,500. If she accomplishes her goal, the outcome will be the following:

$246,500 sales price
- $136,000 principle (80% LTV)
- $34,000 cash paid at closing (20% on 80% LTV)
- $5,440 origination points (4% of the $136,000 principle amount)
- $8,160 interest payments (6 months x 12% interest)
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= $62,900 gross profit (does not include taxes or renovation costs)