Hard Money Lenders in Asheville, NC | Capital Kings LLC
Capital Kings LLC · Non-QM Mortgage Broker

Hard Money Lenders inAsheville, North Carolina

Fix and flip, bridge and purchase only, DSCR rental and new construction financing for Asheville investors. We do not lend our own money, we shop your deal across a 400+ lender network and come back with real terms you can compare on total cost.

Get a term sheet →Price an Asheville deal

Prefer to talk it through? Call or text Micah at (281) 636-5682.

Reviewed by Micah Foster, Founder & CEO, October 2026

Price an Asheville deal right now

Prefilled with a realistic Asheville deal. Change any number and it reprices on the programs that lend in North Carolina, with the same math as our term sheets.

Sizing your flip on the same terms as the term sheet. Get a real term sheet →

Financing a deal in Asheville

Asheville is a mountain city that draws retirees, remote workers and buyers moving from other states. The hospital system, tourism and small manufacturing make up much of the work. The flip stock is 1920s to 1950s houses in West Asheville, Haw Creek, Oakley and North Asheville, mostly on hillsides. Hurricane Helene in 2024 changed the market, and buyers still ask about it.

After Helene, the Asheville deal is about the ground. Flooding hit the river valleys, and landslides hit steep slopes across the county. Houses on stable ground away from the rivers sell well, and buyers pay for that. Houses near the Swannanoa or the French Broad, or on unstable slopes, need a careful look. We check the flood zone, the slope and the storm history before we agree on a value.

What an Asheville deal looks like on paper

Asheville example: $300,000 purchase, $75,000 rehab, $535,000 after repair value, 700 credit, first flip. The engine puts that borrower on the New Investor Program program at 9.75%. Say a 1940s frame house in West Asheville on a sloped lot, with a partial basement, old siding, a dated kitchen and a deck that needs rebuilding. Every number below is what the instant term sheet prints for that deal, so the picture cannot contradict the page.

Loan amount$337,500
Cash to close$54,167
Proof of funds to show$89,370
Where the $54,167 goes
  • Down payment (12.5% of the purchase)You$37,500
  • Origination (1%)Lender$3,375
  • Doc prepLender$749
  • Broker fee (1%)Broker$3,375
  • Title and closing (estimate at Texas rates)Title$4,003
  • Prepaid interest (15 days)Lender$1,052
  • Property insuranceInsurer$3,563
  • AppraisalAppraiser$550

Interest while you rehab: $2,133 a month on the $262,500 funded at closing, $2,742 once every draw is out. Proof of funds is cash to close plus $18,750 of rehab reserve and $16,453 of interest reserve. Sample borrower, sample address; the sheet is issued by the same engine as the borrower’s instant term sheet.

Fix and flip programs in Asheville

Swipe the table for rates, credit and terms →

ProgramDown paymentMin creditExperienceRateOriginationMax loanTermClose
New Investor Program12.5% of purchase700+First flip OK9.75%1%75% of ARV12 months72 hours
First Flip, 10% Down110% of purchase + rehab660+First flip OK9.99%2%75% of ARV12 months21-30 days
7.5% Down, 3+ Flips27.5% of purchase + rehab660+3+ completed flips9.99%1.5%75% of ARV12 months21-30 days
5% Down, 5+ Flips35% of purchase660+5+ completed flips9.99% to 10.99%2%75% of ARV9-24 months10-14 days
100% Financing, 2+ Flips40% (100% financing)620+2+ completed flips9.50% to 12.00%2.5%70% of ARV9 months7-14 days
Fastest Close (3 days)10% of purchaseNo minimumFirst flip OK11.99%2%75% of ARV6 months72 hours
  1. Rate 9.99% with 2% to 2.25% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. Under 680 credit the loan caps at 87.5% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
  2. Rate 9.99% with 1.5% to 1.75% origination by credit; more origination buys the rate down as far as 8.99%. Loans under $150,000 add 0.5% to the rate and 0.5% to the origination, under $100,000 1.5% and 1%. Under 680 credit the loan caps at 90% of cost. Standard interest, charged only on funds drawn. The loan is capped at a share of purchase plus rehab, the full rehab held back for draws, and the ARV must be at least 1.25 times purchase plus rehab. Processing $500, legal $1,495 and underwriting $795.
  3. Rate is set per file from 9.99%; origination about 2% plus a $995 processing fee.
  4. Needs 2 completed flips in the last two years and about $75,000 in verified liquidity. Rate 9.5% to 12% with 2% to 3% origination, set per file. Purchase plus rehab must fit under 70% of ARV.

Origination has a $2,000 minimum on most programs (a few lenders set a higher one, noted above) and our broker fee is 1% with a $2,000 minimum and a $10,000 maximum. These are the numbers our term sheets use as of October 2026. Strong credit, cash and a track record can price lower through specific lenders in the network.

Where Asheville prices sit right now

Before we price an Asheville flip, we look at where sales in the city sit today. Your block can run well above or below these numbers, so treat them as the starting point, not the answer.

Redfin puts the Asheville median sale price at $490K for the three months ending September 2026, down 3.8% on a year earlier, with homes selling in around 74 days. The median price per square foot is $311.

Median sale price (Redfin)$490K
Change from a year earlierdown 3.8%
Days on market (Redfin)74
Median price per square foot$311

Sources: Redfin, Asheville housing market

How an Asheville file actually gets priced

Asheville prices are down slightly this year and homes take a while to sell, so we use recent closed sales and check how long they took. Appraisers separate West Asheville, North Asheville and East Asheville, and they discount steep or hard-access lots. We pull renovated sales from the same neighborhood and the same kind of lot.

Check every parcel for flood zone and Helene damage, and look at the slope, the drainage and any retaining walls. Asheville has rules for building on steep slopes and ridgetops, which can limit additions and site work. Short-term rentals are not allowed for whole houses in most residential districts, so don’t count on nightly rent. Montford and other historic districts review exterior changes.

Who buys your finished Asheville deal

The finished Asheville house sells to a retiree, a remote worker or a family moving in from another state, often with a large down payment. They want a house that came through the storm well, so document the condition. Because short-term rentals are restricted, a long-term rental on a DSCR loan is the realistic hold.

What happens after you apply

Apply once and the whole Asheville loan lives in the borrower portal: the term sheet you can accept and sign in the browser, where the loan stands, one place for documents, and the list of what the lender is still waiting on. These are real screens from the portal.

Capital Kings borrower portal: Welcome to your file
Welcome to your fileSign in and the term sheet is waiting, with every fee and who it goes to.
Capital Kings borrower portal: Where the loan stands
Where the loan standsApplication, appraisal, title, underwriting, clear to close.
Capital Kings borrower portal: Run the deal again
Run the deal againThe analyzer priced off your real numbers, before and after the appraisal.
Capital Kings borrower portal: What the lender still needs
What the lender still needsEvery open condition, what clears it, and who it is waiting on.

The full walkthrough is on how it works, and you can tour the borrower portal before you apply.

What we fund in Asheville

Fix and flip

10%down on a first flip
Rates
from 9.50% at 620+ credit with 2+ completed flips
With experience
0% down with 2+ completed flips, purchase plus rehab under 70% of ARV
Rehab
100% funded, paid in draws
Fix and flip loans in North Carolina →

Rental (DSCR)

7.00%rates from, 30-year fixed
Qualify on
the rent, no W-2s or tax returns
Down
from 20% at 700+ credit
Good for
buy-and-hold, and the refinance when a flip becomes a rental
DSCR loans in North Carolina →

Bridge and purchase only

12.5%down at 700+ credit, no rehab in the loan
Rates
from 9.75% at 680+ credit
Close
in as little as 72 hours
Good for
auction buys, off-market deals and 1031 timing

New construction

95%of cost with a financed interest reserve, after 1 completed build
Rates
from 8.49% with 5+ completed builds
First build
85% of cost with a GC who has 5+ builds
Builds
single family to small multifamily
New construction loans in North Carolina →

Where we lend in Asheville

We broker deals across the whole Asheville market. The submarkets investors ask us about most are West Asheville and Malvern Hills (28806), Haw Creek and East Asheville (28805), Oakley and Kenilworth (28803), Montford (28801), North Asheville and Grace (28804) and Emma (28806).

How long does a Asheville loan take to fund?

You send the address, purchase price, rehab budget and your ARV, which takes about five minutes and no credit pull. We take it to the lenders in our network that fit it and are licensed in North Carolina, and the rate, origination, leverage and cash to close come back side by side. As little as 72 hours on the fastest program, 7-30 days on the others. We stay on title and the lender through funding.

Asheville hard money FAQ

Do you lend hard money in Asheville?
Yes. Capital Kings is a broker, not a direct lender, so we shop your Asheville scenario across a 400+ lender network and bring back real terms instead of one lender’s rate sheet. The programs on this page are the ones whose lenders are licensed in North Carolina, and the numbers come from the same engine that prices our instant term sheet.
Which fix and flip programs apply in Asheville?
As of October 2026: New Investor Program (12.5% down, from 9.75%); First Flip, 10% Down (10% down, from 9.99%); 7.5% Down, 3+ Flips (7.5% down, from 9.99%, 3+ completed flips); 5% Down, 5+ Flips (5% down, from 9.99%, 5+ completed flips); 100% Financing, 2+ Flips (100% financing when purchase plus rehab fits under 70% of ARV, from 9.50%, 2+ completed flips); Fastest Close (3 days) (10% down, from 11.99%). Rehab is funded 100 percent in draws on every one of them, and we shop the file against the rest of the network before anything is signed.
How fast can an Asheville hard money loan close?
As little as 72 hours on the fastest-close program, which has no credit minimum. In North Carolina, once the file is complete, the programs for investors with completed flips close in 7-14 days (10-14 on 5% down with 5+ flips, 21-30 on 7.5% down with 3+ flips) and a first flip on the 10% down program closes in 21-30 days. The biggest delays are usually title issues or missing borrower documents, so getting those started early makes a big difference.
How much do I need to bring to close on an Asheville flip?
The worked example on this page is a $300,000 Asheville purchase with a $75,000 rehab and a $535,000 after repair value at 700 credit, first flip: $37,500 down (12.5% of the purchase) and $54,167 total cash to close, with $89,370 of proof of funds to show the lender. The lowest down payment for a first flip in Asheville is 10% down from 9.99% at 660+ credit. Investors with a track record can go to 0% down (100% financing) from 9.50% at 620+ credit with 2+ completed flips, when purchase plus rehab fits under 70% of ARV, and you still bring the closing costs in cash. Rehab is funded 100 percent through draws in every case. Run your own numbers in the calculator above, or send us the deal and we will price it.
Do you fund the rehab budget in Asheville?
Yes, 100 percent of the rehab is funded, but it is a holdback released in draws rather than cash at closing. You pay for each phase, request a draw, an inspector verifies the work, and the lender reimburses. That means you need working capital to float the first phase, which is the single most common thing new investors miss on their first deal.
What credit score do I need for an Asheville fix and flip loan?
One Asheville program has no credit floor at all, it is priced on speed rather than credit. The lowest rate here, 9.50%, needs 620+ credit and 2+ completed flips. Depending on the program, rates step down at 700 credit and origination steps down at 700 and 740. Credit matters less here than on a conventional loan because the deal carries the file, but it moves your rate and your leverage, so know where you stand before you make offers.
Can I refinance an Asheville flip into a rental loan?
Yes. That is the BRRRR exit, and it is the most common way an Asheville flip becomes a hold. A DSCR loan qualifies on the property’s rental income rather than your W-2, so once the rehab is done and it is leased, you refinance out of the short-term hard money loan into 30-year financing. Worth deciding before you start, because it changes what finish level makes sense.
Can I turn an Asheville flip into a short-term rental?
Usually not. The city doesn’t allow whole-house short-term rentals in most residential districts, and homestays require the owner to live there. Check the parcel’s zoning before you plan on nightly rent. A long-term rental on a DSCR loan is the more realistic hold.
How do I check Helene damage on an Asheville house?
Look up the flood zone, ask for any insurance claims and FEMA assistance on the property, and have the inspector look closely at the foundation, the crawl space and the slope behind and below the house. Ask about any repairs since the storm and whether they were permitted. Buyers will ask the same questions.
Micah Foster
Micah Foster
Founder & CEO, Capital Kings LLC
Micah brokers Non-QM and hard money loans for real estate investors across 38 states from his base in Texas. He founded Capital Kings to give investors a broker who shops the market on their behalf instead of pitching one lender product.

What to read before you sign a term sheet

Hard money near Asheville: Greenville, Knoxville and Charlotte. More North Carolina city guides: Durham, Greensboro, Mooresville, Raleigh, Wilmington and Winston-Salem. Or see everything we fund in North Carolina.

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