Question 1

Does Wake County's revaluation cycle change what I'll owe on a flip I'm still holding?

Accepted Answer

Not on a flip that closes before 2027, but plan around the date anyway. Wake's assessed values are frozen between revaluations: the most recent reval took effect 2024-01-01 and raised residential values 53%, and the next one takes effect 2027-01-01, with value notices mailing that January and appeals opening the same month. A flip you buy and sell in 2026 carries the 2024-vintage assessment the whole way through. One you're still holding when notices go out could see a jump mid-project. On a $436,000 Raleigh house at the combined county-plus-city rate of $0.9091 per $100 (tax year 2026), the annual bill runs about $3,964.

Question 2

What's the deed stamp tax on the sale side of a Raleigh flip?

Accepted Answer

North Carolina's state excise tax is $1.00 per $500 of consideration, or 0.2%, and the seller pays it. On a house that sells for $450,000 that's about $900, due to the register of deeds before recording. Wake County levies no additional local transfer tax on top of it, unlike a handful of far northeastern coastal counties. There's also no mortgage or intangibles tax on the note itself, just the flat statutory recording fees.

Question 3

I'm looking at a deal in Durham or Chapel Hill. Can I use Wake County's tax numbers?

Accepted Answer

No. The Triangle is three counties with three different rates, and blending them will misprice your carry. On the same fiscal year, a Raleigh (Wake County) address combines to $0.8721 per $100, a Durham (Durham County) address to $0.9913 (about 14% higher), and a Chapel Hill (Orange County) address to $1.1383 (about 30% higher). The revaluation calendars don't line up either: Wake reset in 2024, Durham and Orange both reset in 2025. Pull the parcel's actual county from the register of deeds, not from the mailing address, since Cary and Raleigh both straddle county lines.

Question 4

Do I need a broker's license to wholesale a fix and flip contract in Raleigh?

Accepted Answer

No, not under current law. HB 797, the bill that would have folded residential wholesaling into North Carolina's broker-license definition, passed the state House 103-0 in April 2025 but has sat in the Senate Rules Committee since May 2025 with no ratification. It is not law. Under the law that does apply, a bona fide party to a purchase contract can assign its own contract rights without a broker license. Re-check the bill's status before you rely on this, since a 103-0 House vote signals where things are headed. If the plan is a double close instead of an assignment, our transactional funding covers same-day funding for both legs.

Question 5

If a Raleigh flip doesn't sell fast enough, what does the rental fallback look like?

Accepted Answer

Raleigh rents run thin relative to value, about 0.36% of ZHVI a month at a $1,579 median rent against a $436,056 median home value, so a straight rental exit inside the city itself is closer to break-even than cash flow. The math is better east of the city: Zebulon, Wendell, Garner and Knightdale run 0.47% to 0.58% of value a month. Median days on market also swing hard by season, 74 in January versus 44 in April, so a flip that misses the spring list window sits longer either way. If the exit shifts from sale to hold, a DSCR loan qualifies on the property's rent rather than your tax returns.

Question 6

How are flips actually performing across North Carolina right now?

Accepted Answer

Thin margins, as of Q1 2026. North Carolina posted 2,427 flips statewide, 8.3% of all home sales, at a $57,000 average gross profit and 25.0% gross ROI. The ROI is close to the national 25.4%, but the gross profit sits well under the national $66,000. That's a statewide figure, not a Raleigh-specific one; ATTOM's metro tables don't break out the Raleigh-Cary MSA separately. Locally, as of July 2026, the Raleigh-Cary market itself is flat rather than falling: a $450,000 median list price, down 2.2% year over year, with active listings up 5.5%. Underwrite a flat-to-slightly-down ARV, not appreciation.

Question 7

How much of my fix and flip deal will USA Mortgage finance?

Accepted Answer

We fund up to 90% of the purchase price and up to 100% of your rehab budget, with the total capped against the after-repair value (ARV). Rehab money is released in draws as the work is completed.

Question 8

What interest rate and points should I expect on a flip loan?

Accepted Answer

Our fix and flip pricing starts around 9.99%, interest-only, with origination typically 1 to 3 points depending on your experience, leverage, and the deal, and every quote is subject to underwriting. Across the market most flip loans run roughly 9% to 12%. On most flip loans, including ours, interest is charged on the full loan amount, rehab budget included. Paying interest only on rehab funds as you draw them exists in the market, but it is the exception, not the rule.

Question 9

Do I need flipping experience to qualify?

Accepted Answer

No. We work with first-time flippers as well as full-time operators. Experience mainly affects your leverage and rate, since a longer track record earns higher loan-to-cost and better pricing. A newer investor can still get funded with a sound deal, a realistic budget, and a clear exit.

Question 10

How fast can a fix and flip loan close?

Accepted Answer

We can get you a term sheet the same day on a complete application, and we typically fund within 48 hours of clear title. The main variable is how fast title and insurance come together, which is why a full close usually runs 5 to 7 days. Because we are the lender and underwrite in house, there is no second layer of approval to wait on.

Question 11

Is there a prepayment penalty if I sell quickly?

Accepted Answer

No. Our fix and flip loans have no prepayment penalty, so paying off early when the property sells costs you nothing extra. Terms run 6 months, and because there is no penalty, selling sooner never costs you extra.

Question 12

Do you check credit or require income documents?

Accepted Answer

We run credit, but this is an asset-based loan, so the property, your budget, and the ARV matter most. We do not ask for W-2s or tax returns to qualify a flip. We will want to confirm you have reserves to carry the project to its exit.

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