Hard Money Lender in Tarrytown, NY
Rates Starting at 10%
West Forest Capital is an established hard money lender in Tarrytown, providing real estate financing up to $3 million. We are regarded as the fastest hard money lender in Tarrytown because we understand how urgent timing is in property investments.
- 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
- Westchester County
- Sleepy Hollow
- Irvington
- Dobbs Ferry
- Hastings-on-Hudson
- Ardsley
- Elmsford
- Briarcliff Manor
- Pleasantville
- White Plains
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.
Applying through a traditional bank can often take months before funds are released, leaving borrowers waiting. With West Forest Capital, hard money loan approval can be completed the same day, and funds are typically made available within 3 to 5 days. If there is a pressing need, we even provide funding in only 1 day. - If the property isn’t stabilized.
Banks frequently turn away properties that do not meet their narrow standards. Examples include homes or buildings in need of substantial rehabilitation, properties without a Certificate of Occupancy, or those with insufficient rental documentation. West Forest Capital can approve these situations and ensure access to capital when banks say no. - If you have poor credit.
At West Forest Capital, we are aware that a credit score does not always reflect someone’s full financial picture. Our lending process emphasizes the underlying property value, rather than relying only on FICO scores or ratios of debt to income. This gives borrowers a chance to secure funding even with damaged credit. - If you don’t want to take a loan in your personal name.
Most banks expect applicants to take ownership of a property personally in order to qualify. This requirement complicates matters for those using an LLC or for investors with a large number of properties. With West Forest Capital, loans can be approved under more flexible ownership structures.
Why Choose a Tarrytown Hard Money Lender
Tarrytown is one of the locations where we actively provide funding. We are proud to be a Tarrytown hard money lender and to support the growth of this historic community. The market has shown resilience and consistent appreciation, with several neighborhoods becoming popular among investors due to their proximity to Tarrytown City. While investing in Tarrytown can bring strong returns, local rules and rental laws can present challenges. Our team is always willing to provide insight and advice drawn from our experience in hard money lending across Tarrytown.
Financing your Tarrytown Investment Property
The real estate market in Tarrytown has stayed strong, showing a record of appreciation and an ability to recover from economic challenges. Its diversity makes it possible for investors to pursue profits across many types of projects.
There are Tarrytown hard money lenders, but choosing one familiar with the local area who can provide introductions to realtors, contractors, or help with deal assessments matters. At West Forest Capital, we are a direct lender rather than a broker, so you will deal directly with decision makers by calling 212-537-5833 to go over your transaction.
Asset-backed Lender Focused on Customized Solutions
Drawing from our knowledge of the Tarrytown fix and flip market, West Forest Capital structures unique transactions to match your hard money lending goals. Our asset-based approach allows us in some cases to finance over 100 percent of purchase and renovation costs.
We are also proud to offer the longest available hard money loan, with terms of 3 years, perfect for long-term investors.
Contact us today or submit your application for funding.
Hard Money Lender Tarrytown: Frequently Asked Questions
What are Hard Money Lenders?
Hard money lenders are asset-focused, non-bank financing providers. They offer mortgage loans in ways similar to banks, yet the requirements and approval criteria differ dramatically. Hard money lenders consider the property itself as the primary factor in underwriting, rather than the credit history of the borrower. This allows them to move quickly, funding deals within a week, while traditional banks may require months of review.
Investors, especially those pursuing foreclosure auctions, often prefer private money lenders for their ability to provide fast closings. These loans are equally useful when properties are in poor condition or lack a Certificate of Occupancy, both of which typically prevent banks from lending. In Tarrytown, where speed is everything in real estate, hard money loans are frequently used to close transactions effectively.
West Forest Capital funds the kinds of deals that conventional banks decline. We accept borrowers who may have damaged credit or are still repairing their credit profiles. A weak FICO score will not prevent financing. Beyond purchase loans, we also fund refinancing and cash-out transactions, giving investors the flexibility to succeed in competitive markets.
How Do Hard Money Loans Work?
Hard money loans are far quicker and simpler to obtain than traditional bank mortgages, but this comes with higher costs in the form of interest. Rates usually fall between 10 and 12 percent, with an additional two points due at the time of closing. These loans are short term, generally one or two years, and are sometimes organized in two distinct portions.
- 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.
If the loan includes rehabilitation funds, those funds are disbursed after portions of the work are completed. For example, if the loan sets aside $50,000 for renovations, the borrower may first complete $15,000 worth of work and then request $15,000 in funding. This cycle continues until the entire budget has been distributed.
These loans are most often used for bridge financing, flipping projects, and commercial real estate ventures. The structure ensures that the total loan amount, including both purchase and rehab funding, is capped at 65 percent of the ARV. Because of their speed and flexibility, they are especially beneficial in competitive investment markets where closing quickly is critical.
What do hard money lenders look for?
At West Forest Capital, we structure our hard money loans as commercial loans, which means that we provide funding to LLCs rather than to individuals. If you do not already own an LLC, that is not an issue, as they are simple to set up, require very little time, and can be formed with a single member, which may be you.
During our review process, we consider both the purchase price and the ARV, or After Repair Value, to make sure the investment is viable. Properties bought at or below market value are generally the most favorable, particularly if funds are also being requested for renovation. In those situations, we expect a clear and realistic construction schedule, with all work to be completed on time. Before funding can occur, the property must also carry a clean title, which requires the resolution of any judgments or liens tied either to the asset or to the borrowing LLC.
Our goal is to assist our clients in achieving profitable outcomes on their projects. Similar to many experienced lenders in this space, we focus on ensuring that each deal has sufficient margin to cover costs such as the purchase price, renovation budget, loan interest, closing expenses, and additional fees, while still generating profit. This is the framework that guides our underwriting on every loan we provide.
For those active in Tarrytown real estate, particularly in time-sensitive transactions, West Forest Capital offers speed and flexibility to help investors move forward with confidence.
What is hard money used for?
A hard money loan is most frequently needed in the following real estate situations:
- To buy and repair a property that is ineligible for bank financing because of its poor condition or the borrower’s credit standing. Once improved, it can be resold to a retail buyer. This is typically called a fix and flip.
- To acquire and improve a property that a bank refuses to fund, with the goal of renting it out. Once rented, the property is stabilized and can be refinanced with a conventional loan at better rates.
- To close on a property in a timeframe that is too short for a bank to meet, such as foreclosure auctions. Hard money lenders are often able to complete such financing in a week, while banks may take months.
- To pull out cash quickly through refinancing, using an existing property as security.
- To replace a mortgage loan that is about to mature and requires urgent refinancing.
- To buy out the share of a partner or family member. Hard money loans are often used for these buyouts, followed by refinancing into longer term financing.