Hard Money Lender in Ramapo, NY
Rates Starting at 10%
At West Forest Capital, we provide hard money lending for real estate investments in Ramapo, offering up to $3 million in funding. Our quick turnaround time makes us the fastest lender in Ramapo, ensuring you don’t miss out on valuable opportunities.
- 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
West Forest Capital lends in the following locations within Ramapo, NY:
- Rockland County
- Suffern
- Spring Valley
- Pearl River
- Airmont
- Hillburn
- Monsey
Why Use a Hard Money Loan
- If you need funding fast.
Traditional banks can leave you in suspense, making you wait for weeks or even months before you get a response on your loan application. At West Forest Capital, we approve hard money loans the same day you apply, with funds arriving within 3 to 5 days. In especially urgent cases, we can even get the funds to you within one day. - If the property isn’t stabilized.
Banks are often unwilling to approve loans for properties that need repairs, are in poor condition, or are missing important documentation like a Certificate of Occupancy. Properties that lack consistent rental income may also face rejection. With West Forest Capital, however, we specialize in approving these types of projects, giving you access to funding when traditional lenders won’t. - If you have poor credit.
We understand that credit scores don’t always reflect a person’s true financial situation. Rather than dwelling on past credit issues, West Forest Capital places more importance on the market value of the property itself. Our loan reviews focus on the asset’s value rather than FICO scores or debt-to-income ratios. - If you don’t want to take a loan in your personal name.
Many banks require that the borrower personally owns the property being financed. For individuals wishing to purchase or manage property through a business entity, like an LLC, this can pose a problem. West Forest Capital allows you to structure loans through an LLC, offering solutions for borrowers who own multiple properties.
Why Choose a Ramapo Hard Money Lender
West Forest Capital is dedicated to helping investors capitalize on opportunities in Ramapo. As a local lender, we focus on supporting projects that strengthen the community and its real estate market, with an eye toward long-term growth. Ramapo’s diverse neighborhoods offer valuable investment opportunities, with steady property value increases across the town. That said, local regulations, zoning restrictions, and environmental concerns can be tricky to navigate. Our team’s expertise in Ramapo’s real estate landscape ensures that you receive the guidance and financial support necessary for a successful investment and profitable return on your project.
Financing your Ramapo Investment Property
The real estate market in Ramapo has shown consistent growth, with property values steadily increasing due to its suburban appeal and proximity to New York City. Investors looking to capitalize on residential and multi-family developments will find opportunities across Ramapo’s diverse neighborhoods.
While there are many hard money lenders in Ramapo, it’s important to partner with one who truly understands the area. West Forest Capital is a direct lender, offering personalized guidance and expertise on your investment projects. Reach out to us at 212-537-5833 to discuss your upcoming deal in Ramapo.
Asset-backed Lender Focused on Customized Solutions
West Forest Capital brings extensive experience in the Ramapo fix and flip market, allowing us to design flexible financing solutions tailored to your needs. We structure our loans based on the value of the property, and in certain cases, we’ve financed more than 100 percent of the purchase price and renovation costs, giving you the freedom to take on more ambitious projects.
In addition, we offer the longest hard money loan terms in the industry, with financing options up to 3 years, ideal for buy and hold investors.
Contact us today or submit your loan application to get started on securing the financing you need.
Hard Money Lender Ramapo: Frequently Asked Questions
What are hard money lenders?
Hard money lenders are private, asset-backed lenders, providing an alternative to conventional banks. Both banks and hard money lenders offer mortgage loans, but the lending criteria and requirements can differ significantly. Hard money lenders prioritize the value of the property as collateral, instead of relying on the borrower’s credit score or financial history. This results in a much quicker underwriting process, with loans approved and funded in a week, while banks often take months to process loan applications.
Private money lenders play a vital role for real estate investors, particularly those purchasing foreclosures at auctions. Auctions typically require fast closings, and hard money loans are often the best solution. These loans are especially useful when the property needs repairs or lacks a Certificate of Occupancy. Investors in Ramapo regularly turn to hard money financing to stay competitive in the fast-paced real estate market.
West Forest Capital offers financing for properties that conventional banks typically won’t finance. We also work with borrowers who have poor credit or are in the process of rebuilding their credit. A low credit score won’t prevent you from receiving the financing necessary for your investments. Furthermore, we offer refinancing and cash-out loans, providing investors the flexibility to act quickly and make the most of emerging opportunities.
How Do Hard Money Loans Work?
Hard money loans are an ideal solution for those who need quick funding, offering faster and more flexible financing than traditional bank mortgages, though they carry higher interest rates. The rates typically range from 10 to 12 percent, with an additional two points charged at closing. Loan terms are typically for one or two years, and in certain cases, the loan is split into two parts:
- Purchase funds, covering 70 to 85% of the property price.
- Rehab funds, covering up to 100% of renovation costs.
When rehabilitation is required, rehab funds are typically distributed in arrears, meaning funds are provided after the work has been completed. For example, if $50,000 is allocated for renovations, the borrower may complete $15,000 worth of work and request reimbursement from the lender for that portion. This process continues in stages until all renovations are complete.
Hard money loans are often used in bridge loans, fix-and-flip scenarios, and commercial real estate projects. These loans are structured to ensure the combined loan amount, including both the purchase price and renovation funds, does not exceed 65% of the property’s After Repair Value (ARV). They are ideal for investors in competitive markets who require quick funding to secure deals.
What do hard money lenders look for?
At West Forest Capital, we offer hard money loans structured as commercial loans, which means we provide financing directly to LLCs rather than individuals. If you do not have an LLC, it’s no problem. Forming one is quick and simple, and it can even be done with just one member, which may be you. This flexibility makes it easier for investors to access the funding they need.
During the loan evaluation process, we assess both the purchase price of the property and its After Repair Value (ARV) to determine if the transaction is financially sound. Properties purchased at or below market value are more likely to qualify, especially when renovation funds are requested. A solid renovation plan with a clear timeline is necessary, and we cannot release any funds until the title is cleared of any liens or judgments associated with the property or LLC.
Our mission is to help clients succeed. As with most hard money lenders, our ultimate goal is to ensure your real estate investment delivers strong returns. We meticulously evaluate each deal to guarantee there is sufficient margin to cover the purchase price, renovation costs, interest, closing fees, and other associated expenses, all while ensuring a profit margin is maintained. This principle guides how we underwrite every loan.
For investors in Ramapo, especially those under tight time constraints, a private money lender like West Forest Capital can provide the fast and flexible financing you need to move forward with certainty and meet your deadlines.
What is hard money used for?
Hard money loans are commonly used in these situations:
- To buy and renovate properties that traditional banks will not finance due to either the property’s condition or the borrower’s credit history. Once renovated, the property is sold to a retail buyer in a fix-and-flip strategy.
- To purchase and repair properties that conventional lenders refuse to finance, then rent out the property. After tenants are settled and the property is stabilized, refinancing with a bank at a lower interest rate is possible.
- To quickly close on real estate purchases that banks cannot meet the required timeline for, such as foreclosure auctions. Hard money lenders can often fund in just a week, whereas banks may require months.
- To execute a quick cash-out refinance using an already owned property as collateral.
- To refinance a mortgage that is near its due date and needs to be settled before the deadline.
- To finance a buyout of a business partner or family member. Once full ownership is established, refinancing into long-term debt is possible.