Hard Money Lenders Milford, CT
Rates Starting at 10%
West Forest Capital is a leading hard money lender in Milford, CT, offering financing options up to $3 million. As the fastest lender in the area, we recognize the importance of acting quickly in Milford’s fast-moving real estate market. Our efficient approval process means you can access the funds you need without unnecessary delays, helping you stay ahead in your real estate 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
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 Milford, CT:
- New Haven County
- Milford
- New Haven
- Branford
- Guilford
- Madison
- Orange
- West Haven
- Stratford
- Ansonia
- Derby
- Shelton
- Hamden
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. While banks can take months to review loans, West Forest Capital provides same-day approval for hard money loans and funding in just 3-5 days. In urgent situations, we can even fund within 1 day!
If the property isn’t stabilized. It’s not just about timing; sometimes the property itself is the issue. If the property needs rehab, is missing a Certificate of Occupancy (CO), or doesn’t have a solid rental history, traditional banks will turn it down. West Forest Capital is ready to fund these properties when others won’t.
If you have poor credit. At West Forest Capital, we understand that credit scores can be affected by unforeseen events. We base our loan decisions more on the property’s value than your FICO score or debt-to-income ratios.
If you don’t want to take a loan in your personal name. Banks typically insist that loans are made to individuals who own the property directly. If you want to hold the property in an LLC or if you already own multiple properties, a hard money loan is a great alternative.
Why Choose A Milford, CT Hard Money Lender
Our goal is simple: to be the best hard money lender in Connecticut. Specifically, we focus on the Milford metro area, a growing region where real estate values are steadily rising, driven by strong demand and development projects. We understand the area’s investment trends, the shifting demographics, and the key property markets, giving investors the insight they need to succeed.
In Milford, we provide direct hard money financing in neighborhoods such as Milford Center, Woodmont, and Devon, all of which offer promising opportunities for residential and mixed-use developments. We are also able to assist with commercial property financing along high-traffic areas like the Boston Post Road, where retail and office space are in demand.
Additionally, we are happy to fund your fix-and-flip projects in nearby towns like Stratford, West Haven, and Orange, where real estate values are appreciating, and the rental market remains strong.
If you’re seeking financing for properties in nearby cities and towns like Branford, Guilford, or Madison, we are ready to help. These suburban towns offer a combination of historic charm and growth potential, making them ideal for investment in both residential and commercial properties that promise long-term returns.
Financing your Milford, CT Investment Property
Milford, CT, has experienced steady economic growth, supported by a business-friendly environment and a diverse range of industries. This has led to increased demand for both residential and commercial properties, as reflected in the growing traffic on Milford’s roads. As more people move to the area, real estate investment opportunities continue to expand, offering investors a chance to capitalize on the market’s evolution.
Whether you’re looking to buy distressed properties, invest in value-add opportunities, or secure stabilized real estate assets, Milford, CT presents a variety of investment options. West Forest Capital is ready to support your real estate goals with tailored financing solutions that cater to everything from small residential projects to larger commercial and industrial developments in this growing Connecticut market.
Asset-backed Lender Focused on Customized Solutions
West Forest Capital understands Milford’s real estate market and offers creative financing options. We provide loans based on property value and can sometimes fund up to 100% of the purchase price and rehab costs, with additional collateral.
Our hard money loans are available for up to 3 years, allowing you more time to stabilize your property before seeking long-term financing. This gives investors the breathing room needed to make their projects successful.
Please give us a call to help you with financing for your next real estate project in Milford, CT.
Interview with our client, Mike, in Massachusetts
Listen to our interview with Mike, a software engineer from Massachusetts, who started in real estate to provide himself with some passive income.
Hard Money Lender Milford, CT: Frequently Asked Questions
What are hard money lenders?
Hard money lenders are private organizations or individuals who issue loans based on the value of the asset rather than the financial strength of the borrower. While traditional banks and these lenders both offer mortgage lending, the guidelines and compliance requirements are often far more stringent within the banking system. Hard money lenders evaluate the property more closely than the borrower, allowing them to condense the underwriting timeline significantly and often complete funding in as little as one week. This is in sharp contrast to traditional lenders, who may need several months to finalize a loan.
Investors who frequently purchase distressed assets or foreclosure homes at auctions often rely on hard money financing due to the fast closing requirements. Additionally, hard money lenders are able to lend on properties that banks decline, such as those missing a Certificate of Occupancy or requiring extensive rehabilitation. These lenders are also well suited for individuals with weakened credit histories, since a borrower’s FICO score is not the primary determinant, and they can also be used to refinance debt or extract equity.
As a top hard money lender in Milford, CT, we are committed to supporting real estate investors in securing the funding they need for different types of investment properties.
How do hard money loans work?
Hard money loans, like Milford, CT hard money loans, are quicker to secure than traditional bank loans. However, they come with higher interest rates, typically between 10% and 12%, and an extra 2 points at closing. These loans generally have terms of 1 to 2 years and are split into 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.
For properties that require rehab, hard money loan funds are typically provided in arrears, meaning that the borrower receives funding after completing a portion of the work. For instance, if $50,000 is allocated for rehab, the borrower might complete $15,000 worth of renovations and then request $15,000 from the lender, repeating this process as the rehab progresses until it is fully completed. These types of loans are commonly used as bridge loans, fix-and-flip loans, or for commercial real estate projects. They are structured to ensure that the combined loan amount, which covers both purchase and rehab expenses, does not exceed 65% of the property’s after-repair value (ARV). In fast-moving real estate markets like Milford, CT, hard money loans are essential for investors who need quick access to capital to secure deals before opportunities pass them by.
What do hard money lenders look for?
A hard money loan is considered a commercial loan, meaning that a lender will only provide funds to an LLC and not directly to an individual borrower. If you do not already have an LLC, don’t worry as it is a simple and quick process to create one, and it can be structured with just one member, yourself. This makes it easy for real estate investors to qualify for financing through an LLC, even if they are new to the process.
Hard money lenders place significant emphasis on both the purchase price and the after-repair value (ARV) to ensure that they will be able to recover their investment. Purchasing the property at or below market value is essential in making sure the loan can be repaid. If rehab funds are involved, lenders will closely track the repair schedule to ensure it is followed properly and completed on time. Additionally, a clean title is essential as any existing liens or judgments on the property or the LLC must be cleared before the loan can be disbursed.
The primary concern of hard money lenders is ensuring the borrower’s project is financially sound and will generate profit. They want to ensure there is enough “spread” in the deal, meaning that the ARV will cover all expenses like purchase price, rehab costs, interest on the loan, closing fees, and any additional costs while leaving room for the borrower to benefit financially.
What is hard money used for?
Milford, CT real estate investors often use hard money lending 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.