Hard Money Lenders Warwick, RI
Rates Starting at 10%
West Forest Capital is a premier hard money lender based in Warwick, Rhode Island, providing financing for real estate investments of up to $3 million. We have built a strong reputation as the fastest hard money lender in Warwick because we understand the urgency involved in closing deals in a fast-moving local real estate market. Investors and developers in Warwick trust West Forest Capital for fast processing, professional guidance, and dependable funding, ensuring that no opportunity is missed in Rhode Island’s dynamic property sector.
- 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 |
Areas Covered
When pursuing real estate projects in Warwick, Rhode Island, West Forest Capital provides lending support across several key locations to ensure you have access to fast and reliable funding. We lend in:
- Apponaug
- Buttonwoods
- Cowesett
- Harrison
- Natick
- Oakland Beach
Why Use a Hard Money Loan
- If you need funding fast. Time-sensitive real estate opportunities require more agility than banks typically provide. West Forest Capital offers same-day approval for hard money loans, with funding usually completed within three to five days. In emergency scenarios, we can even accelerate funding to a single day, ensuring that investors can act quickly and secure their deals.
- If the property isn’t stabilized. Conventional lenders often reject properties that need work, lack proper documentation, or do not have a consistent rental history. West Forest Capital understands these challenges and provides funding for properties that require renovation, are missing Certificates of Occupancy, or do not have established rental income, giving investors the ability to purchase and improve properties that banks will not touch.
- If you have poor credit. Negative marks on a credit report should not stand in the way of real estate investing. West Forest Capital emphasises the intrinsic value of the property rather than focusing solely on the borrower’s credit history or financial ratios, making it possible for individuals with less-than-perfect credit to obtain financing.
- If you don’t want to take a loan in your personal name. Banks often require personal ownership for loan approval, which can be restrictive for experienced investors. If you wish to hold property in an LLC or already own multiple properties that make personal financing impractical, West Forest Capital offers hard money loans that accommodate alternative ownership structures while providing the capital needed to grow your investment portfolio.
Why Choose A Rhode Island Hard Money Lender
We are dedicated to being the best hard money lender in Rhode Island! We have deep knowledge of Warwick and the surrounding suburban areas of Providence, including Cranston, East Providence, and Woonsocket. Our team has personally explored these locations and understands the recent movements in population, property demand, and pricing trends. If you are seeking financing for investment properties in Warwick, nearby suburbs, or are considering a hard money loan in developing locations such as Warren, Johnson, or Central Falls, we are here to provide the capital you need.
However, our dedication extends beyond Providence County. If your focus is on the picturesque towns of South County, we offer bridge loans and hard money lending throughout those communities as well. Towns we serve include Narragansett, Kingston (South and North), Westerly, Jamestown, and Tiverton. We strive to ensure that all Rhode Island investors have access to the funding required to make their real estate projects successful.
Financing your Warwick, RI Rhode Island Investment Property
Warwick, Rhode Island, is part of a state economy that has consistently demonstrated growth over recent years. Industries such as healthcare, biotechnology, and industrial manufacturing provide a robust and stable economic base, while the state’s proximity to Boston offers additional employment options for residents commuting from Warwick. The cultural vibrancy of Providence also enriches the area, with its extensive selection of restaurants, bars, parks, entertainment options, shows, events, and nightlife contributing to an appealing regional lifestyle.
This solid economic environment supports a thriving real estate market throughout Rhode Island. Investors looking at Warwick have a range of real estate strategies to explore, from condominiums and single-family homes to multi-family projects, commercial ventures, or industrial opportunities. West Forest Capital is ready to provide the funding you need to take full advantage of these investment possibilities in the Warwick area.
Asset-backed Lender Focused on Customized Solutions
With our comprehensive expertise in the Rhode Island fix and flip market, West Forest Capital is able to structure creative and flexible transactions to accommodate the unique hard money financing requirements of investors in Warwick. Loans are primarily based on the value of the property, and in certain cases, we have financed over 100 percent of both the purchase price and rehab costs, allowing investors to undertake ambitious projects without delay.
West Forest Capital also provides the longest hard money loan available on the market (3 years), perfect for Warwick investors who need extra time to stabilise a property. This extended term serves as a bridge between short-term hard money loans and conventional longer-term financing, giving investors ample time to maximise returns.
Give us a call today to review your loan offer and explore how West Forest Capital can support your Warwick real estate investment goals!
Hard Money Lender Warwick, Rhode Island: Frequently Asked Questions
For those interested in using hard money loans to acquire rental properties, the following information addresses many of the questions investors commonly ask.
What are hard money lenders?
Hard money lenders are non-bank, asset-based lenders. Unlike banks that require extensive credit and financial documentation, hard money lenders evaluate loans based largely on the underlying property. The approval and funding process is significantly faster, often completed within a week, whereas traditional banks may take two to three months or longer. Investors in Warwick benefit from this efficiency, enabling them to act quickly when opportunities arise in a fast-moving market.
Real estate investors, particularly those purchasing foreclosures at auctions in Warwick, frequently utilise private money loans from hard money lenders to comply with the expedited timelines required at auction closings. Hard money lenders also make financing available for properties that banks typically reject, including those missing a Certificate of Occupancy. Individuals with poor credit or those working to rebuild their credit can still secure loans, as FICO scores are not the primary determining factor. Additionally, hard money lenders provide refinancing options or cash-out solutions, giving Warwick investors the flexibility to leverage their properties and capitalize on real estate opportunities.
How Do Hard Money Loans Work?
Because hard money loans, like a Rhode Island hard money loan, can be obtained more quickly and with less documentation than a traditional bank mortgage, the interest rates are generally higher. For investors in Warwick, rates typically range from 10 to 12 percent, with an additional two points charged at closing. Loan terms are usually one or two years and are often divided into two parts to accommodate both property acquisition and renovation needs. These two parts generally include:
- Funds for the property purchase, covering approximately 70 to 85 percent of the acquisition cost.
- Funds for rehab or renovations, which may cover up to 100 percent of the necessary work costs.
If a property requires rehabilitation, the funds are typically released in arrears, after the borrower completes designated portions of the work. For example, if $50,000 is set aside for rehab on a Warwick property, the borrower may complete $15,000 worth of work and then request an equal portion from the lender, continuing this process until the renovation is fully funded. Hard money loans in Warwick are frequently utilised as bridge loans, flip loans, and commercial real estate financing. They are structured to ensure that the combined loan amount, including both purchase and rehab funds, does not exceed 65 percent of the property’s after-repair value (ARV). These loans are especially advantageous for investment properties in competitive markets like Warwick, where fast access to funding is crucial for closing real estate deals successfully.
What do hard money lenders look for?
Because a hard money loan is considered a commercial loan, hard money lenders usually do not lend to individuals and require the loan to be made to an LLC. If you do not have an LLC, there is no need to worry. They are easy to form and can have a single member, allowing you to qualify for a loan while retaining full control over your Warwick investment.
Hard money lenders analyze both the purchase price and the property’s after-repair value to make sure the loan can be repaid. Buying a property at or below market value is an important factor in obtaining financing. If the borrower also requires funding for rehabilitation, the lender will confirm that the repairs are completed on schedule and according to the approved plan. A clear title is also necessary. Any liens or judgments on the property or the LLC securing the loan must be resolved before funds can be released for a Warwick property.
It is critical to a hard money lender that their borrower is entering into a project that will generate profit. The lender wants to ensure the borrower makes money on their Warwick investment so the loan can be repaid on time. They calculate that there is enough spread in the deal. This means the ARV will cover the purchase price, rehab costs, interest, closing expenses, and any other associated fees while leaving sufficient room for the investment to be profitable.
What is hard money used for?
A hard money loan is most frequently used in the following scenarios for investors in Warwick:
- To buy and repair a property that a traditional bank will not finance due to the property’s condition or the borrower’s credit profile, with the plan to sell it to a retail buyer. This practice is widely known as “fix and flip.”
- To purchase and renovate a property that banks refuse to finance, which will subsequently be rented. Once the property is rented and stabilized, it may be eligible for refinancing with a traditional bank at a lower rate.
- To fund real estate acquisitions that must be completed within a tight timeframe that traditional banks cannot meet, such as foreclosure auctions. Hard money lenders can often provide funding within a week, whereas banks may take two or three months or longer.
- To access fast cash-out refinancing using an existing property as collateral, providing immediate capital for other investments or projects.
- To refinance a mortgage that is approaching its due date, allowing the investor to avoid late fees or penalties.
To buy out a partner or family member’s interest in a property. Hard money loans provide a fast solution to acquire full ownership, which can later be refinanced into a longer-term loan after the transfer is complete.