Cary Hard Money Lender

Cary Hard Money Lender

In the Cary real estate market, grabbing properties before your competition is essential for making the best deals. Although real estate investors sometimes go the traditional route and seek bank loans, the process is anything but speedy.

When time is of the essence, waiting for the lengthy process of getting approval is not an option for most investors. Cary hard money lenders specialize in providing hard money loans which provide quick funds to investors. These loans are for a non owner occupied property or in some cases for business purpose loans.

Cary Hard Money Lender FAQ’S

Below are some of the most frequently asked questions we get regarding hard money loans and lenders in Cary.

What Do Cary Hard Money Lenders Specialize in?

Cary hard money lenders specialize in providing short-term, creative financing for real estate investors. If you seek a conventional lender to purchase an investment property, your loan request will be based on the property’s value and your assets. Your credit score, job, and finances will be scrutinized intensely.  Hard money lenders base their final loan decisions on the after-repair value. The ARV represents the potential value of a property after all repairs have been accomplished.

What are the Benefits of Cary Hard Money Loans?

Cary hard money loans offer advantages that traditional banks cannot. Lenders like Acamnet Financial offer a higher level of flexibility than banks.  When qualifying for this type of loan, lenders do not delve too deeply into the finances of real estate investors. In most cases, simply present the property and your plans, which saves you the hassle of gathering countless financial documents.

Do Cary Hard Money Lenders Look at my Credit Score?

One of the greatest benefits of working with Cary hard money lenders is the lack of credit score requirements. One of the first things a bank does is check your credit score.  You can get approved for a hard money loan in Cary even if you have bad credit or poor credit, bankruptcies, and foreclosures in the past. Cary Hard money lenders primarily care about the property you are purchasing.

What is the Interest Rate & Points for Hard Money Loans in Cary?

Interest rates for hard money loans in Cary are typically higher than traditional bank loans (conventional loans) because of the greater risk lenders must take on when approving loans. When searching for a hard money lender near me in Cary, you will find average interest rate is between 8%-15%.  You should also be aware that lenders sometimes charge points that are meant to offset their administrative costs. Each point represents 1% of the total loan amount.  The average points lenders charge is between 1 to 3. Some lenders may charge up to 10 points. These points are due upfront or at closing, depending on the lender.

What Should I Look for in a Cary Hard Money Lender?

There are many benefits to working with a Cary hard money lender.  You just need to make sure you are working with the right lender.  You can rely on Acamnet Financial Group when you need us most.  We offer reliability, consistency, experience, and support.  As a real estate investor, you know the importance of grabbing the best property deals when they become available.

How can Hard Money Lenders in Cary Help Me?

Whether you are new to real estate and real estate projects or an old pro, you know having the capital to purchase real estate is essential. Without funds, you will miss out on real estate transactions.  When you partner with hard money lenders in Cary, you will quickly get the money you need without jumping through the hoops of traditional bank lenders.

How do I get a Hard Money Loan in Cary?

When you want a hard money loan in Cary, begin by preparing the property information. Location, size, purchase price, after repair value, repair costs, etc.  In most cases, the financing will be based on these numbers.  Then, apply for a hard money loan in Cary using this information and supply some financial information.  Then, an appraisal will be ordered to assess the loan-to-value ratio, which will influence the loan amount.

How do I Refinance a Cary Hard Money Loan?

Refinance a Cary hard money loan will involve moving from a high interest, short term loan to a longer term, usually lower interest rate loan. Typically a conventional type of loan.  When refinancing a Cary hard money loan you will find it will have a more stringent set of guidelines.  You will need to have sufficient credit and income qualifications.  As the lending landscaping and regulations constantly change, you want to consult a knowledgeable conventional loan expert.

Here’s other cites we can help with in North Carolina: North Carolina hard money lender

Current Real Estate Trends In Cary (2024)

The real estate market in Cary, NC is currently a seller’s market. Demand is high while housing supply is limited. The median listing home price in October 2023 was $620,000, which is a 7.1% increase from the year before. This indicates that homeowners are able to sell their properties for a good price.

With a sale-to-list price ratio of 100%, it is clear that the market is competitive. Homes in Cary sell relatively quickly, with an average of 32 days on the market. While this is a slight decrease compared to the previous year, it has increased since the last month.

There are currently 270 homes available for sale, with 143 new listings added over the past month. A high percentage of sales are above the list price, showing the strong demand.

Overall, the real estate market in Cary, NC is very strong and favorable for sellers.

Market Overview

Cary, NC is experiencing a competitive housing market with 270 homes available as of October 31, 2023. The median sale price stands at $573,833, and the median list price is $579,167, resulting in a sale to list ratio of 1.004. While potential buyers have a wide selection of properties to choose from, it is important to understand the median home prices to make an informed decision.

The market is highly competitive, with prices slightly under the median list price. This suggests that buyers must act quickly in order to secure their desired home. Additionally, it is important to be aware of the various factors that can affect the market, such as the local economy, population growth, and new developments.

With the right knowledge of the market, buyers can make an educated assessment of the current situation and make a decision that best suits their needs. It is essential to analyze the market thoroughly and consider all of the potential options before making a purchase.

With the right approach, buyers can find the perfect home in the current Cary housing market.

Median Home Prices

The residential values in Cary, NC present an overview where an average house is priced at $600,102, with a slight 1.8% growth in worth over the past twelve months. To gain a greater comprehension of the current condition of the housing market in Cary, NC, the following points offer meaningful insights:

1. Average house value: $600,102

2. 12-month value change: +1.8%

3. Houses get sold in around 9 days

4. Typical house costs in Cary: $600,102

These figures show a consistent and slowly increasing real estate market in Cary, NC. With houses being sold in a relatively short time frame, it displays a huge demand for properties in this area. The 1.8% boost in house costs in the last year shows a positive trend for homeowners and potential sellers.

Market Forecast

The market forecast provides valuable data and insights into the Cary, NC real estate market. As of September 30, 2023, 46.3% of properties were sold above their list price, showing a high level of competition in the market.

38.3% of properties were sold below list price, which may suggest that some sellers had to lower their asking prices to attract buyers.

The median days to pending, or the time it takes for a property to go under contract, was nine days as of October 31, 2023. This suggests a fast-paced market with properties selling quickly.


All About Cary

Cary, located in North Carolina, is a lively and exciting town with a long and storied past.

It covers an area of 61.05 square miles and has a population of 174,721 as of 2020. Founded by Allison Francis Frank Page, Cary got its name from Samuel Fenton Cary.

Through the years, Cary experienced its greatest growth during the Civil War and even more growth when the Chatham Railroad junction was finished. The town’s focus on constructing roads and schools was a large contributor to its development in the 1920s. 

Despite the difficulties of the Great Depression, Cary kept going. Farming was a major part of the town’s success, and it was even dubbed the ‘Gourd Capital of the World’ due to its yearly Gourd Festival.

With industrial expansion, the opening of Research Triangle Park, and an increasing population, Cary flourished into a unique and desirable destination. Today, Cary still has its historic districts and offers a great quality of life.

Location and Population

Cary is a vibrant town situated in western Wake County, with small portions in Chatham and Durham counties. It is bordered by Raleigh, Research Triangle Park, Morrisville, Apex, Holly Springs, and the Jordan Lake area. The town spreads over 61.05 square miles and has an average elevation of 495ft. It lies on the boundary between the Durham Basin and the piedmont.

In 2022, the population of Cary is estimated to be 180,388, making it one of the fastest-growing towns in North Carolina. The median household income stands at $113,782, higher than the county average, reflecting the town’s thriving community.

Cary has a long and rich history that dates back to its founding. Over the years, the town has undergone many transformations, making it a bustling and resilient community. Events such as the opening of Research Triangle Park and the expansion of the town have played a significant role in shaping its identity.

Historical Background

Before European settlers came, the area that later became Cary was home to the Tuscarora and Catawba people. Unfortunately, due to smallpox epidemics, their population decreased significantly. These Native American tribes had built their own societies in the land, living off the resources around them. However, with the appearance of the Europeans and the illnesses they brought, the Tuscarora and Catawba people saw a sharp decrease in their population.

It is essential to remember the history and culture of the Native American tribes that were once in the land of Cary. Their presence and the role they played in the early development should be respected and recognized.

The town of Cary officially began with the purchase of land by Allison Francis Frank Page. He also constructed his own home, a sawmill, and a general store. Page even granted land for a railroad depot, which would be essential in the further growth of the town. During this period, the area was known as Page, Pages Siding, and Pages Station. Eventually, Page decided to name the town Cary after Ohio’s prohibitionist and congressman, Samuel Fenton Cary.

Allison Francis Frank Page’s contributions to the area were the foundation for the future growth and development of Cary. He offered land for a railroad station, built his own home, a sawmill, and a general store, and officially named the town. His actions were the start of the town’s bright future.

Founding of Cary

When looking back at the beginnings of the town, you’ll discover a land of great potential and opportunity. Originally known as Page, Pages Siding, and Pages Station, the town of Cary was founded by Allison Francis Frank Page. He purchased land and built his own home, a sawmill, and a general store – these were the foundations of Cary. Additionally, Page donated land for a railroad depot, which played an important role in the town’s growth. To recognize Samuel Fenton Cary, a prohibitionist and temperance advocate, the community was given his name.

The launch of Cary marked the start of a new page in its history. After humble beginnings, the town experienced remarkable expansion and change. The following section about ‘Civil War and Post-War Growth’ will discuss the difficulties Cary faced during the Civil War and how it recovered after its completion. The completion of the Chatham Railroad junction and the establishment of various companies and institutions helped contribute to the town’s growth.

Civil War and Post-War Growth

After experiencing the Civil War, Cary was able to rebound and attain a period of post-war growth and success. Confederate troops were located in Cary in April 1865 right before the conclusion of the war, showing the town’s involvement in the war. With the completion of the Chatham Railroad junction, Cary’s population began to rise. A depot was established for the Chatham Railroad, making transportation and trade easier. This led to the creation of various businesses and establishments in Cary.

The post-war period also saw growth in infrastructure in Cary. In 1879, the Raleigh and Augusta Air-Line Railroad reached Cary, bringing more economic growth. Fetner Junction was established, contributing to the expansion of Cary. Cary Academy was transformed into Cary High School, becoming the first state-funded public high school in North Carolina. Roads were constructed and the town’s infrastructure was developed, setting a solid foundation for more growth and success in the future.

The post-war growth and improvement in infrastructure opened the door for more development and progress in the town. This period of growth set the stage for further growth and development in Cary, which will be discussed in the upcoming section on ‘development and infrastructure’.

Development and Infrastructure

During the post-war period, Cary experienced an incredible growth and improvement of its infrastructure, providing a solid basis for future growth and prosperity.

The arrival of the Raleigh and Augusta Air-Line Railroad in 1879 had a pivotal part in Cary’s development, establishing a connection to other significant cities and making goods and people more accessible. Moreover, Fetner Junction spurred further economic growth in the area.

Cary also placed a great deal of emphasis on the education sector, converting Cary Academy into the first state-funded public high school in North Carolina. This move offered local youth more opportunities and contributed to the development of the community as a whole.

Furthermore, the town dedicated itself to the construction of roads and the improvement of its infrastructure. This included setting up a municipal water and sewage system, which improved the quality of life for citizens and further supported the town’s growth.

Overall, the development and improvement of infrastructure during this period provided a robust basis for Cary’s future success. These advancements formed a strong foundation for continued development and prosperity, setting the stage for its transformation into the vibrant community it is today.