Hard Money Lender in Albany, NY
Rates Starting at 10%
West Forest Capital offers hard money lending in Albany, financing investment properties up to $3 million. We have built a reputation as the fastest hard money lender in Albany because we know that each day can make the difference in real estate success.
- We are a direct lender, not a broker
- Same day pre-approval
- Funding in 3-5 days, although 1 day is possible
- Loan amounts up to $5 million
The Trust We've Earned
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 and nearby locations around Albany:
- Albany County
- Colonie
- Guilderland
- Latham
- Watervliet
- Cohoes
- Rensselaer
- Troy
- Bethlehem
- Delmar
Hard Money Loans in Ithaca - Areas We Serve
Recently Funded Hard Money Loans
- Location: Quogue, Long Island, New York
- Original Purchase Price: $3,675,000
- Rehab Budget: $2,200,000
- Loan Amount: $3,200,000
- ARV: $8,950,000
- Exit Strategy: Sale
- Investor Capital: $1,675,000
- Equity Created: $3,275,000
- Investor Return on Capital: 204%
- Location: Dix Hills, New York
- Original Purchase Price: $999,000
- Rehab Budget: $92,000
- Loan Amount: $867,000
- ARV: $1,355,000
- Exit Strategy: Sale
- Investor Capital: $224,000
- Equity Created: $264,000 (excluding soft costs)
- Investor Return on Capital: 118%
- Location: Staten Island, New York
- Original Purchase Price: $600,000
- Rehab Budget: $60,000
- Loan Amount: $450,000
- ARV: $840,000
- Exit Strategy: Sale
- Investor Capital: $210,000
- Equity Created: $180,000 (excluding soft costs)
- Investor Return on Capital: 86%
Why Use a Hard Money Loan
- If you need funding fast.
Waiting months for approval is a common experience when applying at traditional banks. West Forest Capital removes that delay by issuing same-day approvals for hard money loans and delivering capital in only 3 to 5 days. For borrowers in urgent need, funding can even be arranged within a single day. - If the property isn’t stabilized.
Some deals fall apart not because of timing but because banks refuse to finance properties that do not meet strict requirements. Buildings needing extensive renovations, properties without a Certificate of Occupancy, or rentals without a proven history are often rejected. West Forest Capital can provide funding where banks are unwilling, ensuring progress continues. - If you have poor credit.
We at West Forest Capital understand that personal credit history does not always reflect true financial potential. Because of this, we prioritize the property itself rather than FICO scores or debt obligations when reviewing applications. This makes funding accessible even with less-than-perfect credit. - If you don’t want to take a loan in your personal name.
Banks typically insist that loans be tied to individuals who hold property ownership directly. Borrowers preferring an LLC structure, or those who have reached limits with personal property ownership, often face obstacles with traditional financing. Hard money loans through West Forest Capital solve this challenge by allowing flexibility in ownership.
Why Choose an Albany Hard Money Lender
Albany is one of our main locations, and we are proud to support the city’s real estate market as a local Albany hard money lender. The capital region has experienced steady appreciation and continues to attract investors due to its mix of residential and commercial opportunities. Different areas within Albany have become strong targets for value and growth. While investing in Albany offers excellent potential, it also requires an understanding of local rules and rental regulations. We are always ready to provide advice and insight based on our knowledge of hard money lending in Albany.
Financing your Albany Investment Property
The real estate market in Albany has proven strong, with historic appreciation and an ability to recover well from downturns. The broad opportunities within Albany create potential for investors to secure meaningful profits through a wide range of projects.
There are different Albany hard money lenders, but you will benefit most from one who knows the local area and can offer connections with realtors, contractors, or assistance with assessing deals. West Forest Capital is a direct lender, not a broker, so investors can speak with the decision makers directly by calling 212-537-5833 to discuss their financing needs.
Asset-backed Lender Focused on Customized Solutions
Because of our expertise in the Albany fix and flip market, West Forest Capital can provide customized loan structures that align with your hard money financing needs. Our loans are asset-based, and in some cases we have funded more than 100 percent of the purchase cost and rehabilitation budget.
We also deliver the longest hard money loan available, with terms up to 3 years, which is especially useful for buy and hold investors.
Give us a call or start your application today.
Hard Money Lender Albany: Frequently Asked Questions
What are Hard Money Lenders?
Hard money lenders operate as non-bank financial institutions that base loans primarily on assets. Both banks and hard money lenders extend mortgage financing, but the approach to underwriting and risk assessment is very different. Unlike banks that rely on creditworthiness, hard money lenders evaluate the collateral property. This makes the approval process significantly quicker, allowing loans to be funded within a week compared to the much longer timelines of banks, which may take two to three months.
Many real estate investors, especially those purchasing properties at foreclosure auctions, turn to hard money lenders to meet fast closing deadlines. These loans are widely used when properties need substantial renovations or when there is no Certificate of Occupancy in place. In competitive regions such as Albany, these types of loans give investors an advantage by allowing them to move without delay.
West Forest Capital specializes in financing that traditional banks decline. We are open to working with investors who have lower credit scores or are repairing their credit. Your FICO score will not disqualify you from receiving funding. We also provide options for refinancing and cash-out loans, ensuring investors can stay flexible and seize opportunities as they arise.
How Do Hard Money Loans Work?
Hard money loans are known for being much faster and easier to secure compared to traditional bank financing, but this convenience is offset by higher interest rates. These typically fall between 10 and 12 percent, along with two points charged when the loan is closed. The standard term for this type of financing is either one or two years, and loans may be structured in two phases.
Funds for the purchase, typically cover 70 to 85% of the purchase price.
Funds for rehab, if necessary, which may cover up to 100% of the renovation costs.
In cases where rehabilitation work is necessary, the lender releases the renovation funds in arrears. This means that if $50,000 is designated for rehab, the borrower first completes $15,000 of work and then requests $15,000 from the lender. This incremental funding continues until the renovation has been fully completed.
These loans are regularly used as bridge loans, flip loans, or commercial property financing. The structure requires that the combined amount for purchase and renovation does not exceed 65 percent of the property’s ARV. Because they provide quick access to funds, they are particularly useful for investment properties in markets where speed is crucial to closing deals.
What do hard money lenders look for?
At West Forest Capital, we specialize in providing hard money loans that are structured as commercial loans. This means we lend exclusively to LLCs rather than to individuals. If you have not yet created an LLC, this is not an obstacle, because the process is quick, efficient, and can be accomplished with just one member, which may be you alone.
Our loan evaluation process involves looking at both the purchase price of the property and its ARV, known as the After Repair Value. By reviewing these numbers together, we ensure that the deal is financially viable. Properties purchased below or at market value typically present the strongest opportunities for qualification, especially when the borrower is also requesting funds for renovations. In these circumstances, we expect the renovation work to follow a structured timeline and to be completed on schedule. Additionally, the property must have a clean title, which requires resolving any liens or judgments before we can proceed with funding.
The success of our borrowers is at the core of our lending approach. Just like other reputable hard money lenders, we strive to ensure that every investment we support is positioned for profitability. We carefully check that each deal provides enough financial cushion to cover the purchase price, renovation costs, interest charges, closing fees, and other expenses, while still leaving room for profit at the end. That is the consistent framework we bring to every underwriting process.
For investors in Albany, particularly those with tight deadlines, West Forest Capital offers the flexibility and speed necessary to complete deals when traditional lenders cannot.
What is hard money used for?
A hard money loan is most typically required in the following conditions:
- To buy and repair a property that does not qualify for bank financing because of either its current condition or the borrower’s credit issues. The renovated property can then be sold to a retail buyer, which is known as a fix and flip.
- To acquire and renovate a property that banks refuse to lend on, and then rent it out. Once stabilized with consistent tenants, it can be refinanced through a traditional lender at more favorable rates.
- To complete a purchase on a timeline that banks cannot meet, such as a foreclosure sale requiring quick action. Hard money lenders may close within a week, while banks may require months.
- To take out fast cash using a property already owned as collateral through a cash-out refinance.
- To refinance an existing mortgage that is approaching maturity and must be replaced.
- To fund the buyout of a partner or relative. With a hard money loan, one party can gain full ownership and later refinance into a longer-term loan.