Wade Latham. I underwrite every deal myself.
I'm based in Columbia and I've been buying and renovating property in South Carolina since 2013. I borrowed hard money for six years before I lent any of my own, which is why I answer the phone here rather than routing you to a portal.
Where this started
My first flip was a foreclosure on Elmwood Avenue in 2013 that I paid too much for and finished four months late. I financed it with a hard money loan from a lender two states away who I never spoke to twice. The rate was fine. What cost me money was the eleven days it took to get an answer on a draw request while a framing crew sat idle.
Why LendRock exists
Over the next several years I borrowed from nine different lenders. Two were excellent. The rest ran the same playbook: a rate quoted verbally, then a closing statement with a $1,400 processing fee, a $900 underwriting fee, and a $650 “document review” charge nobody had mentioned. One held a term sheet for three weeks while they looked for the money they'd implied they already had.
None of that is complicated to fix. Publish the fees. Commit the capital before you send terms. Answer the phone. That's the entire business model here.
How we work now
I underwrite every deal that comes in. Some we fund off our own balance sheet; some go to one of four lenders whose criteria I know well enough to place a file on the first try. Every fee we charge is on the rates page before you apply, and you talk to me from the first call through servicing.
“The rate was fine. What cost me money was waiting eleven days for an answer.”
What we commit to, and how you can check
The full schedule is on the rates page, including third-party costs we don't control. If a fee isn't on that page, it isn't on your closing statement.
See the fee schedule →If we miss it, the origination fee drops by half a point. That has happened once and we honoured it.
Direct line, 8am to 7pm Eastern, text is fine. If I'm at a closing you'll get a call back the same day, not a ticket number.
Ground-up construction, owner-occupied anything, and deals outside South Carolina get referred out on the first call, usually with a name and a number.
We only lend where we can drive
A lender in another state underwrites your deal off a spreadsheet and a desktop appraisal. I've walked streets in every market on this list, I know which contractors finish and which don't, and I know which closing attorneys will pick up on a Friday afternoon when a wire needs to move. A national platform structurally cannot do that.
Member of the Columbia and Charleston REIAs. We close with three firms across the state and can name them before you sign anything.
Where we are today
We have closed two loans. You were going to work that out anyway, so here it is up front. A new lender that publishes its fees, its criteria and its process is a different kind of risk than an established one that hides all three. As the count grows we'll publish it here, including the deals that didn't work out.
- LendRock Capital LLC, registered in South Carolina
- Business-purpose lending only — no consumer or owner-occupied mortgages
- Columbia REIA and Charleston REIA member
- General liability and E&O carried
- NMLS — not applicable to business-purpose lending in SC; this row stays here if that changes
Call me before you apply, if you'd rather
LendRock Capital LLC makes business-purpose loans secured by non-owner-occupied real property. We do not make consumer or owner-occupied mortgage loans. Equal opportunity lender.