Hard Money Lenders Hartford, CT
Rates Starting at 10%
West Forest Capital is a trusted hard money lender in Hartford, CT, offering real estate financing up to $3 million. Known for being the fastest lender in the region, we understand how crucial time is in Hartford’s competitive real estate market. Our streamlined process ensures quick access to capital, allowing you to seize opportunities without delay, whether you’re investing in residential or commercial properties.
- We are a direct lender, not a broker
- Same day pre-approval
- Funding in 3-5 days (1 day 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 locations in Hartford, CT:
- Hartford
- West Hartford
- New Britain
- Newington
- Wethersfield
- Bloomfield
- East Hartford
- Glastonbury
- Rocky Hill
- Farmington
Hard Money Loans in Georgia - Areas We Serve
Recently Funded Hard Money Loans
Jersey City, NJ
Newark, NJ
Elizabeth, NJ
Why Use a Hard Money Loan
If you need funding fast. Traditional banks may take months to approve your loan application, but West Forest Capital offers same-day approval for hard money loans and funding within 3-5 days. In emergency situations, we can fund in just 1 day!
If the property isn’t stabilized. It’s not always about timing; sometimes, a property’s condition or paperwork can prevent a bank from approving your loan. Properties needing rehab, missing a Certificate of Occupancy (CO), or lacking a strong rental history often don’t qualify. At West Forest Capital, we’re here to fund properties that banks won’t.
If you have poor credit. West Forest Capital recognizes that life events can sometimes impact your credit score. That’s why we primarily focus on the value of the property, rather than FICO scores or debt-to-income ratios when assessing loan eligibility.
If you don’t want to take a loan in your personal name. Traditional banks often require property ownership to be in the borrower’s name. If you prefer to own the property through an LLC or own too many properties for a bank to finance you personally, a hard money loan is an ideal solution.
Why Choose A Hartford, CT Hard Money Lender
Our goal is simple: to be the best hard money lender in Connecticut. Specifically, we focus on the Hartford metro area, a region that offers an array of real estate investment opportunities. We understand the local market dynamics, from investment trends to population shifts and property valuations, making us the go-to lender for all your real estate financing needs.
In the city of Hartford, we provide direct hard money financing in areas such as Downtown Hartford, the West End, and the historic neighborhoods surrounding Bushnell Park.
Our expertise extends to commercial property hard money financing along key roads like Asylum Avenue and Main Street, where businesses and mixed-use developments continue to thrive. We’re also happy to fund your fix-and-flip opportunities in suburban areas like West Hartford, Newington, and Wethersfield, where demand for renovated homes is strong and home prices are on the rise.
If you are seeking a hard money loan in the various neighborhoods of nearby cities like New Britain or East Hartford, we can assist you. Additionally, we offer financing throughout Hartford County, including towns like Bloomfield, Farmington, and Rocky Hill, all of which continue to see steady growth and offer excellent returns for real estate investors looking to make their mark in Connecticut.
Financing your Hartford, CT Investment Property
Hartford, CT, has seen remarkable economic growth, driven by a business-friendly environment that has supported various thriving industries. This economic expansion has translated into a rising population, and it’s clear from the increasing traffic congestion that there is growing demand for both residential and commercial properties. The city’s booming real estate market offers an abundance of investment opportunities, making it a prime location for investors.
With its strong fundamentals, Hartford, CT provides opportunities for a range of real estate strategies, whether you’re looking to buy distressed assets, capitalize on value-add opportunities, or purchase stabilized properties. From single-family fix-and-flip projects to larger commercial developments, West Forest Capital can provide the financing needed to help you navigate Hartford’s growing market and secure profitable investment opportunities.
Asset-backed Lender Focused on Customized Solutions
With our expertise in Hartford’s residential and commercial real estate markets, West Forest Capital offers creative financing solutions. We base our loans on the property’s value, and in some cases, can provide up to 100% of the purchase price and rehab costs if additional collateral is available.
We also offer the longest hard money loan in Hartford, CT, up to 3 years, giving you more time to stabilize your property. This loan term is ideal for investors who need flexibility between short-term hard money and long-term financing.
Please give us a call to explore your financing options for real estate in Hartford, CT.
Hard Money Lender Hartford, CT: Frequently Asked Questions
What are hard money lenders?
Hard money lenders are private, asset-based financing providers that operate outside the traditional banking system. Although both banks and hard money lenders issue mortgage loans, the qualifications, documentation, and approval criteria can differ considerably. Hard money lenders place far greater emphasis on the property being financed rather than the borrower, which results in a much faster underwriting timeline. Because of this streamlined process, funding can often be completed in about a week, whereas banks may require several months to close.
Real estate investors frequently rely on these private money loans, particularly when purchasing foreclosure properties at auctions where timelines are extremely strict. Hard money lenders can also finance properties that banks will not consider, including properties lacking a Certificate of Occupancy or requiring substantial work. These lenders are also helpful for borrowers with low credit scores, as approval is not based primarily on FICO scores, and they are often used for refinancing existing debt or pulling equity out of a property.
As a leading hard money lender in Hartford, CT, our team is dedicated to providing reliable and flexible financing for a wide range of real estate investment needs.
How do hard money loans work?
A Hartford, CT hard money loan is faster and easier to obtain than a traditional bank mortgage. However, interest rates are higher, typically ranging from 10% to 12%, with an additional 2 points at closing. These loans typically last 1 to 2 years, making them ideal for short-term projects. They are structured in two parts:
- 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.
When rehab is required, hard money loan funds are distributed in arrears, meaning that payments are made after portions of the work have been completed. For example, if $50,000 is allocated for rehab, the borrower might complete $15,000 of work before requesting $15,000 in funding from the lender, continuing this process until the rehab is finished. These loans are commonly used as bridge loans, fix-and-flip loans, or for commercial real estate investments. They are structured to ensure the total loan amount, including both purchase price and rehab funds, does not exceed 65% of the property’s after-repair value (ARV). Hard money loans are particularly valuable in competitive markets like Hartford, CT, where quick access to funding is crucial for real estate investors looking to close deals quickly and efficiently.
What do hard money lenders look for?
Because a hard money loan is classified as a commercial loan, a hard money lender will not lend directly to individuals; instead, loans are made to LLCs. However, this is not a significant hurdle as forming an LLC is a simple and fast process, and it can be established with only one member, which can be you. This allows real estate investors to quickly get the necessary financing by structuring the loan through an LLC.
Hard money lenders carefully evaluate both the purchase price and the after-repair value (ARV) to ensure that they will be repaid. A key factor in securing the loan is purchasing the property at or below market value, which helps ensure the lender’s investment is safe. If the loan includes funds for rehab, the lender will closely monitor the progress of the repairs to ensure they follow the agreed-upon schedule. Additionally, a clean title is critical; any existing judgments or liens on the property or the LLC must be resolved before loan disbursement.
For hard money lenders, ensuring the borrower’s project is profitable is essential. They want the investor to succeed because their repayment depends on it. The lender will ensure that the ARV is high enough to cover all costs, including purchase price, rehab expenses, interest, closing costs, and other fees, while still leaving sufficient room for the borrower to earn a profit.
What is hard money used for?
Hard money lending is frequently used by Hartford, CT real estate investors in the following scenarios:
- To purchase and repair a property (including rental properties) that a traditional bank will not lend on (either because of the property itself or because of the borrower’s credit), which will then be sold to a retail buyer. This is commonly called “fix and flip.”
- To purchase and repair a property that a bank will not lend on, which will then be rented out. Once rented, the property will be considered “stabilized,” and may be refinanced with a traditional bank at a lower rate.
- To fund real estate purchases that need to be done in a timeframe that a traditional bank cannot meet (for example, a foreclosure auction). While a hard money lender can often fund the purchase within a week, a bank may take 2 or 3 months or longer.
- To obtain a fast cash-out refinancing using an already-owned property as collateral.
- To quickly refinance another mortgage on the property that is coming due.