Charleston Hard Money Lender

Charleston Hard Money Lender

In the Charleston 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. Charleston 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.

Charleston Hard Money Lender FAQ’S

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

What Do Charleston Hard Money Lenders Specialize in?

Charleston 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 Charleston Hard Money Loans?

Charleston 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 Charleston Hard Money Lenders Look at my Credit Score?

One of the greatest benefits of working with Charleston 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 Charleston even if you have bad credit or poor credit, bankruptcies, and foreclosures in the past. Charleston Hard money lenders primarily care about the property you are purchasing.

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

Interest rates for hard money loans in Charleston 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 Charleston, 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 Charleston Hard Money Lender?

There are many benefits to working with a Charleston 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 Charleston 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 Charleston, 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 Charleston?

When you want a hard money loan in Charleston, 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 Charleston 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 Charleston Hard Money Loan?

Refinance a Charleston 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 Charleston 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 West Virginia: West Virginia hard money lender

Current Real Estate Trends In Charleston (2024)

The real estate market in Charleston, WV is currently in a period of growth and stability. Data shows a massive jump in median listing home prices, demonstrating a solid demand for properties in the area.

The sale-to-list price ratio is high, signaling positive conditions for sellers. Home value has also seen a remarkable rise over the past year, making Charleston an attractive option for real estate investment.

The rental market is also robust, with a considerable portion of the population being renters and a reliable supply of rental properties. These trends suggest that Charleston offers competitive prices, potential for increased home value, and rental market prospects.

This data will provide an overview of the housing market, median home values, and rental market analysis to give a comprehensive look at the current real estate trends in Charleston.

Housing Market

The housing market in Charleston, WV has seen a substantial rise in median list home prices, with an annual increase of 30.7%. Charleston’s attractiveness to homebuyers is demonstrated by this surge in prices, with a median list home price of $185,000 and a median sold home price of $155,000.

The sale-to-list price ratio of 99.21% implies that vendors can usually receive close to their asking prices. The market is suitable for buyers, giving them a good opportunity to locate their perfect home at a decent cost.

It is essential to examine the median home values in Charleston and their general trends as we move forward.

Median Home Values

Charleston offers a vibrant housing market with an average home value of $154,944, indicating a 6.3% increase over the past year. This suggests that the city’s real estate is becoming more valuable, making it an attractive destination for potential homebuyers and real estate investors.

The city’s relatively low prices and the significant 30.7% year-over-year increase in median listing home prices further accentuate the market’s potential for profitability.

Furthermore, the 14 days average time to go pending indicates a relatively active market, providing opportunities for buyers and sellers alike.

It is also important to consider the rental options in Charleston due to its increasing population and the presence of rental properties.

Rental Market Analysis

The rental market in Charleston, WV provides a great opportunity for residents and investors alike. Approximately 35.2% of Charleston’s population is composed of renters and 3.9% of houses and apartments are available for rental. This suggests that the supply of rental properties is adequate for those in need of housing.

Investors also have the potential to make money through property rentals. Charleston’s real estate is predominantly made up of older properties that may need renovations or updates, making them attractive to those seeking affordable rental options.

All in all, the rental market in Charleston is a potentially profitable sector with a range of rental properties and opportunities.


All About Charleston

Are you ready to explore all Charleston has to offer? This West Virginia city has a rich history and vibrant culture that you’ll definitely want to check out.

Charleston experienced significant economic growth in the early 20th century, thanks to its abundant natural resources. This led to the construction and development of the city, producing stunning buildings and landmarks that still stand strong today. Manufacturing companies like Owens Bottle and Libbey-Owens-Ford were also attracted to the city, helping it to grow.

Unfortunately, Charleston was hit with several disasters, including devastating fires that caused the destruction of important municipal buildings. Despite this, Charleston’s architectural heritage and captivating history remain to this day.

So, get ready to take in the story of Charleston and all it has to offer.

Economic Growth

Charleston experienced incredible economic expansion when companies from various industries flocked to the city due to its plentiful natural resources. These industries included chemical, glass, timber, and steel. Owens Bottle Company, a specialist in glass manufacturing, was one of the major players in Charleston’s manufacturing sector. It opened in 1917 and had a huge impact on the city’s industrial growth. Another significant contributor to Charleston’s economic success was the establishment of the Libbey-Owens-Ford glass manufactory around the same period.

The migration of these industries to the city was motivated by its plentiful natural resources and advantageous location, making it an ideal destination for businesses seeking growth and profitability. The presence of these industries not only provided job openings for the locals but also brought in other investments and businesses.

The economic growth caused by these industries formed the base for the subsequent construction and development in Charleston. The city’s flourishing economy led to the construction of numerous churches, office buildings, and schools, further adding to its appeal and wealth.

Construction and Development

Take a walk along the streets of downtown Charleston and marvel at the extraordinary buildings that stand as a testament to the city’s colorful past and impressive development. As you make your way along Capitol Street, you can’t help but be in awe of the grand churches and high office buildings that have withstood the test of time. These structures, including the State Bureau of Archives and History established in 1905, the Charleston Public Library founded in 1909, and the Charleston High School built in the same period, all lend to the city’s rich historical background.

But it’s not just the old buildings that tell a story. Construction and development still shape Charleston’s landscape. In 1921, the Charleston City Hall was built, becoming an emblem of the city’s expansion and progress. Unfortunately, disaster struck in 1927 when the capitol building burned down. Nevertheless, Charleston’s spirit shone through as the Capitol Building Commission authorized the construction of the present capitol, designed by renowned architect Cass Gilbert. This Italian Renaissance-style structure, constructed from buff-colored Indiana limestone, stands as an indication of the city’s commitment to recover and continue its development.

Now, let’s look into the exciting world of Charleston’s manufacturing industry.

Manufacturing Industry

As you explore the colorful streets of downtown Charleston, you’ll be amazed by the active and dynamic manufacturing industry in the city. Industries like chemical, glass, timber, and steel have been attracted by the area’s plentiful natural resources and have been a major factor in the city’s economic growth.

One key member in Charleston’s manufacturing industry is Owens Bottle Company, which opened in 1917. This company, alongside the Libbey-Owens-Ford glass manufactory, contributed significantly to the city’s economic expansion. Moreover, Charleston welcomed its first chemical manufacturer in 1913, further increasing the size of the manufacturing sector.

The arrival of these industries to Charleston has not only been beneficial to the economy but has also changed the city’s landscape. Many manufacturing facilities and warehouses still remain, commemorating the city’s industrial roots. These buildings are a reminder of the city’s development and transformation over the years.

Let’s turn our attention to the amazing municipal buildings that can be found in the streets of Charleston, showcasing the city’s fascinating history and architectural grandeur.

Municipal Buildings

Be captivated by the beautiful municipal buildings on display in downtown Charleston, depicting the city’s rich history and architectural excellence. The Charleston City Hall, constructed in 1921, is one of the most remarkable buildings. It is a symbol of the city’s growth and progress during that period, with its grandeur and elegance providing a focal point for the community and housing government offices.

The Capitol building was destroyed by a catastrophic fire in 1927. The Capitol Building Commission brought together the renowned architect Cass Gilbert to shape the present Capitol. This Italian Renaissance-style structure, made of buff-colored Indiana limestone, is a sign of the city’s resurgence.

These municipal buildings not only provide a feast for the eyes but also bear importance in terms of history. They remind us of Charleston’s past and the development it has undergone over the years. From the Charleston City Hall to the Capitol building, these structures are a reminder of the city’s heritage.

We now explore the effects of the fire that occurred in Charleston and how it has shaped the future of the city.

Fire and Reconstruction

Discover the dramatic aftermath of a devastating fire and witness the extraordinary transformation that changed the city’s landscape forever.

In 1921, a fire engulfed the capitol building in Charleston, leaving a scene of destruction and despair. This tragic event resulted in the opening of a new structure, which unfortunately also burned down in 1927.

Resolved to rebuild, the Capitol Building Commission authorized the construction of the present capitol, a magnificent Italian Renaissance-style structure made of buff-colored Indiana limestone. Renowned architect Cass Gilbert was responsible for the design of this new capitol, which stands as a symbol of resilience and determination.

The reconstruction of Charleston’s capitol not only brought back a vital government building, it also sparked a renewed sense of hope in the community. Visitors can admire the grandeur and architectural beauty of this iconic landmark.

The fire and reconstruction serve as a reminder of Charleston’s capacity to overcome hardship and come out even stronger than before. Through the ashes, a new chapter of the city’s history was written, permanently changing the landscape and influencing the future of Charleston.