Renovation Loans In Boston
Rates Starting at 10%
West Forest Capital is a renovation lender, financing real estate investments up to $5 million. We have gained a reputation as the fastest renovation lender because we know how critical each day is in the competitive real estate market.
- We are a direct lender, not a broker
- Same day pre-approval
- Funding in 3-12 days, although 1 day is possible
- Loan amounts up to $5 million
Property Types
- Multi-family
- Single-family Investment Properties
- Condominiums
- Apartments
- Co-ops
- Retail
- Small Office Buildings
- Industrial & Warehouse
- Duplex
- Triplex
- Quadplex
- Mixed-Use
Lending Parameters
| Loan Size | $100,000 to $5,000,000 |
| LTC | Up to 80% of purchase price |
| Rehab Funding | 100% |
| LTV | Up to 70% of the ARV |
| Term | Standard is 12 months. 24-36 months is available |
| Lien | First lien; second lien as additional collateral only |
| Interest Rate | 10%–12.5% |
| Points | 1.5–2% of the loan amount |
Counties Covered
West Forest Capital lends in the following counties:
- Hudson County
- Bergen County
- Passaic County
- Essex County
- Morris County
- Sussex County
- Warren County
- Union County
- Somerset County
- Middlesex County
- Hunterdon County
- Mercer County
- Monmouth County
- Burlington County
- Ocean County
- Atlantic County
- Cape May County
Recently Funded Investment Property Renovation Loans
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Jersey City, NJ
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Newark, NJ
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Elizabeth, NJ
Why Use a Renovation Loan in Boston
- If You Need Rapid Funding: Unlike traditional banks that may take months to process your loan application, West Forest Capital offers same-day approval for investment property renovation loans, with funding available in just 3 to 12 days. In urgent cases, we can even provide funding within 24 hours.
- Because the Property Requires Renovation: Traditional banks often shy away from financing properties that need rehab, lack a Certificate of Occupancy (CO), or have other issues. West Forest Capital specializes in funding investment property renovation loans for properties that do not meet standard banking criteria.
- If You Have Less-Than-Perfect Credit: We understand that situations come up in life that might impact credit. That’s why we focus on the property’s value rather than your credit score when underwriting the loan.
- It’s Investment Real Estate: Typically, banks require loans to be made to individuals. But you are renovating your investment property and it should be treated as such by being in an LLC. This way, you get all of the benefits of owning an LLC, and the renovation loan is structured as a business-purpose loan to your LLC.
Why Choose Us For Your Renovation Loans
We’re passionate about supporting real estate investors with their renovation projects, providing specialized renovation loans tailored to meet your project’s unique needs. Our expertise spans beyond local regulations; we understand the critical elements involved in planning, budgeting, and structuring renovation financing for properties in various markets. With experience working alongside contractors, navigating permit requirements, and coordinating with city inspectors, we’re prepared to guide you through the entire renovation loan process. Let us be your trusted partner, helping you bring your investment properties to life with confidence and ease.
Finance Your Renovation Property
The market for renovating properties is strong, with high demand and a solid supply of homes ready for improvement. This setup offers a promising opportunity, with attractive spreads between purchase prices and renovation costs.
However, this active market also brings competition, as many real estate investors want to capitalize on these opportunities. Our team at West Forest Capital is here to help you gain an edge with committed, cash-equivalent capital and make sure your renovation process is as seamless as possible. Let us support you every step of the way to help make your project a success.
Asset-backed Lender Focused on Customized Solutions
We are guided by the current “as-is” market value, the renovation costs, and the “after repaired value.” We are easy to work with and typically provide a large amount of the purchase price and 100% of the rehab costs. We are also flexible: if you do the construction out of order from your original schedule, or have a budget overrun, we will work with you to make sure your renovation project is successful.
West Forest Capital also offers the longest hard money renovation loan available on the market (2 years), which is a great option for those projects that may take a bit more time.
Call us today, and let’s talk about your loan scenario. Most likely, we will be able to fund you.
Frequently Asked Questions
What are renovation lenders in Boston?
West Forest Capital provides asset-based loans for investment property renovations in Boston. Unlike traditional banks, we emphasize property value over credit history, enabling investors to secure funding quickly. Our expedited process ensures approvals and funding in just days—ideal for properties needing rehabilitation or without a Certificate of Occupancy.
How do renovation loans work?
Obtaining a renovation loan with West Forest Capital is a seamless process. Interest rates range from 9% to 12%, with closing fees applicable. We finance up to 85% of the purchase price and cover 100% of rehabilitation costs, releasing funds incrementally as renovations advance. These short-term loans ensure total financing remains under 65% of the property’s after-repair value (ARV).
What documents or information will I need to provide to get pre-approved?
For pre-approval, you’ll need to submit property details, the purchase price, a renovation budget, and an estimated after-repair value (ARV). Unlike traditional home improvement or home equity loans, our focus is on the property’s value and investment potential rather than just your credit score. However, recent financial statements and proof of LLC ownership can expedite the pre-approval process.
What do renovation lenders in Boston look for?
As a private lender, we primarily work with LLCs rather than individual borrowers. Our assessment focuses on both the purchase price and the ARV to ensure the investment is viable. We prioritize properties bought at or below market value, adherence to a structured rehab plan, and a clear title. Our goal is to support profitable investments while ensuring successful loan repayment.
What is a renovation loan used for?
Renovation loans from West Forest Capital in Boston are designed for real estate investors in Boston who require fast and flexible financing where traditional banks may not be an option. These loans are ideal for purchasing and rehabilitating properties for resale or rental income, acquiring auction properties quickly, and funding real estate purchases under an LLC. Additionally, they can be used for cash-out refinancing or refinancing existing mortgages—situations where standard bank financing or home equity lines may not be viable.
How is the home renovation loan budget assessed and approved?
Once you submit your rehab budget, our team carefully evaluates it to ensure it aligns with the property’s improvement plan and projected after-repair value (ARV). We cover 100% of rehab costs, provided they fall within our lending guidelines. Should unexpected expenses arise during renovations, we offer flexibility to adjust funding, a benefit that traditional home improvement or equity loans often lack.
What should I consider before applying for a renovation loan?
Before applying for a renovation loan, it’s essential to evaluate the property’s investment potential and ensure you have a well-structured renovation plan. At West Forest Capital, we assess the feasibility and expected profitability of your project. Understanding the loan terms, including repayment structure and how they fit within your project’s budget and timeline, is key to optimizing your financing strategy.
How quickly can I access funds once approved for a renovation loan?
One of the biggest advantages of working with West Forest Capital is our fast funding process. Once approved, funds are disbursed quickly, allowing you to move forward with your property purchase and renovations without unnecessary delays. Our streamlined approach ensures you stay competitive in the fast-moving real estate market.
Can I apply if I have had credit issues in the past?
Yes, having credit issues in the past does not disqualify you from applying. While we review your overall financial history, we do not impose a strict minimum credit score requirement. Instead, our focus is on the property’s potential, particularly its after-repair value (ARV), making it possible for investors with lower credit scores to secure funding.
Do I need to have an LLC before applying, or can I set one up after loan approval?
An LLC must be established before we can close on your loan. Since our renovation loans are strictly business-purpose loans, they are only issued to LLCs rather than individuals. If you don’t have an LLC yet, you may set one up before finalizing the loan. Alternative financing options such as personal loans or home equity loans may be available without an LLC, but they often lack the same flexibility and funding capacity for real estate investment.
Can I use the loan to finance renovations for rental properties in Boston, or is it only for properties intended for resale?
Yes, our renovation loans can be used for both rental properties and properties intended for resale. Whether you’re making improvements to attract new tenants or upgrading a home before selling, we offer the flexibility you need. Unlike traditional personal loans or home equity lines, which often don’t cater to real estate investments, our financing is structured specifically to support investors in maximizing their property’s value.
