Durham County · North Carolina
Hard Money Loans in Durham, NC
No monthly payments for the first 6 months for qualified borrowers. 12% · 2 points · no prepay penalty.
Start your application
Three quick questions, then the deal details. A real person — not a call center — follows up.
Borrower LoginGreenville, NC
Durham projects we finance
Durham is the seat of Durham County and, with Raleigh and Chapel Hill, one of the three points of the Research Triangle. Anchorwood Lending makes business-purpose loans to investors renovating residential property in the city and the surrounding county.
Our lending covers fix-and-flip and value-add residential deals held in an LLC or another legal entity. Rehab money is held back and released in draws as work is completed and documented.
A lot of investment property in an older city needs a real scope rather than paint and carpet. We read a renovation budget with a licensed general contractor's eye, and we would rather tell you early that a scope looks light than find out at the third draw.
Start a loan application or read more about how we lend across North Carolina.
Months 1–6 · $0 due
No monthly payments while you renovate.
During the rehab, every dollar you send a lender is a dollar that isn’t buying cabinets or paying your sub. So for qualified borrowers, we let the first six months of interest accrue and collect it at payoff, straight off the HUD when the house sells.
After month six, the loan goes to monthly interest-only. Fast flips never get there.
Cash out of your pocket
$200,000 loan, fully drawn · 12% · months 1–6
from
proceeds
Typical lender −$12,000 out of pocket by month 6
Anchorwood $0 · settles on the HUD at sale
Loan program
What a Durham loan costs
One fix-and-flip product, priced the same way for every borrower. You know what the money costs before you apply.
- $50K–$400KLoan size12-month term
- 12% → 16%RateMonths 1–6, then 7–12
- 2 ptsOriginationPaid at closing
- $0Prepayment penaltyPay off any time
Months 1–6
$0 / month
For qualified borrowers, interest accrues and settles on the HUD at payoff. From month seven, the loan goes to monthly interest-only.
- LeverageUp to 90% of purchase, 100% of rehab
- Rehab fundsHeld back, released in draws as work is completed
- StructureInterest-only, balloon at maturity
- CollateralFirst-position deed of trust
WHO WE LEND TO
Business-purpose borrowers in Durham
Anchorwood lends to LLCs and other legal entities only. We do not make consumer loans and we do not finance owner-occupied property.
Fix-and-flip
Buy, renovate and resell residential property. The loan carries the purchase and the rehab, and pays off from the sale.
BRRRR bridge loans
Carry the renovation on a property you intend to keep, then refinance into long-term financing once it is stabilised.
Wholesalers
Transactional funding for investors who need to take title to close an assignment.
Questions from Durham borrowers
- How do draws work?
- Rehab funds sit in a holdback. You submit photos and documentation of completed work through the borrower portal, and approved draws release within one to two business days.
- What if my renovation runs long?
- The term is twelve months. After month six the loan moves to monthly interest-only at 16%, so a longer project carries a cost but does not fall off a cliff.
- Do you finance the purchase and the rehab?
- Yes, up to 90% of purchase and up to 100% of rehab, subject to underwriting and the after-repair value.
- Can I pay off early?
- At any time, with no prepayment penalty.
HOW IT WORKS
Contract to payoff, in five steps.
Underwriting in 1–2 business days. Closings in Durham run through a local attorney, and can happen in as few as 5 days when your documents are in order.
- 01
Apply
Quick call, then a short application: deal details, LLC docs, soft credit check.
- 02
Term sheet
We review your comps and scope, run our own numbers, and put terms in writing.
- 03
Attorney closing
Your local closing attorney runs it. We wire once title, insurance and the HUD check out.
- 04
Draws in the portal
Upload photos of completed work. Draws release within 1–2 business days.
- 05
Payoff at sale
Balance and deferred interest settle on the HUD when the house sells.
We also lend nearby
Got a Durham deal under contract?
Send it over. We’ll tell you straight whether it works for us — and if it does, you’ll have terms in writing fast.