CRAVEN COUNTY · NORTH CAROLINA
Hard Money Loans in New Bern, NC
Business-purpose renovation financing for investors in Craven County.
Start your application
Three quick questions, then the deal details. A real person — not a call center — follows up.
Renovation lending in New Bern
New Bern sits at the confluence of the Neuse and Trent rivers and is the seat of Craven County. Anchorwood Lending makes business-purpose real estate loans to investors working in this part of Eastern North Carolina.
Our borrowers are entities, not individuals, and our loans are for fix-and-flip and value-add residential projects. A loan is secured by a first-position deed of trust and closed by a North Carolina attorney.
Because older housing stock often needs a deeper scope than a cosmetic refresh, rehab funds are structured as a holdback and released in draws. The budget is reviewed with the same contractor's eye we bring to our own renovation work.
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 a rehab in New Bern, every dollar that goes to a lender is a dollar that is not buying cabinets or paying a sub. For qualified borrowers we let the first six months of interest accrue and collect it at payoff, straight off the settlement statement when the property sells.
After month six the loan converts to monthly interest-only. Fast projects never get there.
Cash out of your pocket
$200,000 loan, fully drawn · 12% · months 1–6
from
proceeds
HOW IT WORKS
Contract to payoff, in five steps.
Underwriting in 1–2 business days. Closings in New Bern 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.
Loan program
What a New Bern 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
- 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 New Bern
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.
What New Bern investors ask
- What loan sizes do you write?
- Between $50,000 and $400,000, sized against the purchase price, the rehab budget and the after-repair value.
- Do you charge points?
- Two points at origination, paid at closing. The rate is 12% for the first six months and 16% for months seven through twelve.
- Will I owe anything during the rehab?
- For qualified borrowers the first six months of interest is deferred and settles from the sale proceeds at payoff, so there is nothing due monthly during that stretch.
- What do you need to give me terms?
- The property address, your purchase price, your rehab scope and budget, your after-repair value estimate, and the entity that will hold title.
- Do you lend outside Craven County?
- Yes. We lend across North Carolina, with the heaviest concentration of our work in the eastern part of the state.
We also lend nearby
Got a New Bern 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.