Real Funding Carolina

About Real Funding Carolina

Real Funding Carolina is private money lender based in Charlotte, NC. They provide loans throughout North Carolina. They provide rental property loans, fix-and-flip loans, hard money refinancing, and private commercial loans. Their lending guidelines are versatile, including loans with a maximum LTV of 70%. They do not require a minimum credit rating to obtain a loan. They make loans on all of the following types of properties: single family units, multi family residences, offices, retail storefronts, industrial buildings, mixed use, and apartments.

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

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

Areas Served: NC

Lending Guidelines for Real Funding Carolina

Below are the general loan guidelines published on the Real Funding Carolina 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 Real Funding Carolina.

Loan Example 1

Gracie finds a condo in Charlotte, NC to rehab and re-sell. Since she does not have enough cash to buy the $360,000 property outright, she decides to take out a fix-and-flip loan from Real Funding Carolina. The lender agrees to make a note with a 75% loan-to-value (LTV) so they will loan $270,000 on the property. The deal also includes the following features: 1) a 12 month term, 2) a 9% interest only note, and 3) a four percent origination fee.

By the terms of the note, Gracie will have to pay a $10,800 origination fee plus 25% of the sales price, or $90,000, based on the 75% LTV. After the deal is closed and Gracie takes on the project, she will begin making monthly payments of $2,025 to the lender ($270,000 principle x 9% / 12 months). If Gracie sells the house for $450,000 after 12 months, she would then earn a gross profit of $54,900 after deducting the principle of $270,000, the money contributed at closing of $90,000, the origination points of $10,800, and the aggregate interest payments of $24,300. This gross profit does not account for renovation costs.

Loan Example 2

Dustin finds a property in Charlotte, NC to remodel and sell. Because he does not have enough cash to buy the property outright, he takes a fix and flip loan from Real Funding Carolina with the following parameters:

a) A $170,000 purchase price, b) a 50% loan to value (LTV), c) a 6 month term, d) a 10% interest rate, and e) a 4% origination fee.

Assuming a $229,500 sales price after the 6 month term, the numbers for the project would look like the following:

$229,500 sales price
- $85,000 note principle (50% LTV)
- $85,000 down payment (50% on 50% LTV)
- $3,400 origination points (4% of the $85,000 principle amount)
- $4,250 interest payments (6 months x 10% interest)
-----------------------
= $51,850 total profit (does not include taxes or renovation costs)

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