Hard Money Lenders in Manchester, NH
Rates Starting at 10%
At West Forest Capital, we provide fast and reliable hard money loans tailored to the needs of real estate investors in Manchester. Our financing solutions support property investments up to $3 million, giving you the capital needed to seize opportunities in Manchester’s thriving market. Known for our quick response times, we understand the importance of time in Manchester’s competitive real estate scene and ensure you get the funding you need without delay.
- 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 counties and nearby locations around Manchester:
- Downtown Manchester
- The Milyard
- South End
- North End
- West Side
- East Side
- Goffstown
Why Use a Hard Money Loan
- If you need funding fast. When time is critical and you can’t afford long waits, traditional banks often make you wait months for loan approval. At West Forest Capital, we provide same-day approval and fund your loan within 3-5 days. If you face an urgent situation, we can even expedite the process and fund your loan in just one day.
- If the property isn’t stabilized. In many cases, it’s not just about the speed of approval, but the type of property. Traditional lenders often refuse financing for properties that need repairs, lack proper documentation, or have inconsistent rental income. West Forest Capital is different, we offer flexible financing options, enabling us to fund properties that banks typically won’t.
- If you have poor credit. West Forest Capital recognizes that sometimes life’s challenges can impact your credit score. We focus more on the property’s value than on factors like FICO scores or debt-to-income ratios when evaluating your loan application. This makes us a great option for those with less-than-perfect credit.
- If you don’t want to take a loan in your personal name. Traditional banks often require property ownership to be in the individual’s name to secure a loan. However, if you prefer to own the property through an LLC or have too many properties for banks to finance you personally, hard money loans offer the flexibility to meet your needs.
Why Choose a Manchester Hard Money Lender
We are excited to be your trusted capital partner for real estate investments in Manchester. Our deep understanding of the local market helps us recognize the hidden potential in the city’s real estate. Manchester’s vibrant, urban atmosphere, combined with its affordable cost of living, makes it an attractive investment destination for both local and out-of-state investors. The growing population of this city, alongside nearby towns like Bedford and Goffstown, offers an excellent opportunity for investors. As the largest city in New Hampshire, it’s home to diverse neighborhoods and excellent amenities. Whether you’re looking for investment properties in Manchester itself or its surrounding areas, we are here to provide fast and flexible hard money financing to help you secure your next opportunity.
Manchester has seen steady growth and offers great opportunities for real estate investment. Whether you’re interested in single-family fix-and-flips, multi-family developments, or commercial properties, we’re here to help with fast hard money loans. Take advantage of Manchester’s expanding market with our quick and flexible financing options.
Financing your Manchester Investment Property
Manchester is a key player in New Hampshire’s booming real estate market, with the state’s population growing rapidly. The city benefits from strong economic growth driven by technology, manufacturing, and life sciences industries. With easy access to Boston and a more affordable cost of living, Manchester continues to attract real estate buyers seeking both opportunity and quality of life.
New Hampshire is an attractive state for real estate investors, with significant tax advantages that make it financially appealing. Manchester, in particular, offers savings due to the absence of a state income tax and state sales tax, leaving more funds available for real estate purchases and improvements. For investors, this means a larger portion of renters’ budgets can be allocated to rent, enhancing returns on rental properties.
Asset-backed Lender Focused on Customized Solutions
At West Forest Capital, we specialize in providing tailored financing solutions for real estate investors in Manchester. With our expertise in the local market, we offer loans based on the value of the property, allowing you to grow your portfolio with ease. In certain cases, we’ve even been able to finance up to 100% of both the purchase price and rehab costs, maximizing your investment opportunities.
We provide the longest hard money loan terms available, offering up to three years for investors who need extra time to stabilize their properties. This option is ideal for those looking for a bridge between short-term hard money loans and longer-term financing solutions.
Give us a call today, and we’ll gladly present a preliminary loan offer right over the phone. Our goal is to help you secure the right financing to move forward with your investment plans.
Hard Money Lender Manchester: Frequently Asked Questions
What are hard money lenders?
Hard money lenders are non-bank, asset-based lenders offering an alternative to traditional mortgage loans provided by banks. Unlike banks, which have strict credit score and income requirements, hard money lenders focus primarily on the value of the property being financed. This makes the underwriting process much faster and more flexible, allowing loans to be funded in as little as a week, compared to the months it can take with a traditional bank. The streamlined process is particularly helpful for investors who need quick funding to close deals rapidly.
Real estate investors often turn to hard money lenders for financing, especially when buying properties at auction where quick closings are a necessity. These lenders are also ideal for properties that don’t meet traditional bank criteria, such as those lacking a Certificate of Occupancy. Hard money loans are also an excellent option for individuals with poor or rebuilding credit, as a low FICO score typically won’t prevent securing a loan. These lenders also offer refinancing options or cash-out loans for properties, providing greater flexibility to investors.
How Do Hard Money Loans Work?
Hard money loans are a popular choice for real estate investors in Manchester, due to their quick approval process and ease of access to capital. These loans tend to have higher interest rates than traditional bank mortgages, typically ranging from 10 to 12%, with 2 points charged at closing. The loan term is generally 1 to 2 years and is split into two parts:
- Funds for the purchase, typically covering 70 to 85% of the purchase price, and
- Funds for rehab, which can cover up to 100% of renovation costs if necessary.
In Manchester, hard money loans are a popular financing option for real estate investors. If rehab is required, funds are provided in arrears, with payments made after portions of the work are completed. For example, if $50,000 is allocated for rehab, the borrower may complete $15,000 worth of work before requesting $15,000 from the lender, continuing this process until the project is finished. These loans are commonly used as bridge loans, flip loans, and commercial real estate loans, and are structured to ensure the total loan amount does not exceed 65% of the property’s after-repair-value (ARV), making them ideal for competitive markets like Manchester.
What do hard money lenders look for?
Hard money lenders are primarily concerned with the potential for repayment and the value of the investment, as they operate under commercial loan terms. They typically lend to LLCs rather than individuals, but setting up an LLC is straightforward and can be done with just one member. The lender will assess both the purchase price and the after-repair value (ARV) to ensure that the loan is financially sound and will be repaid successfully.
In addition to the purchase price and ARV, the lender will also pay attention to the renovation process if rehab funds are involved. They will want to ensure that repairs are being made according to the agreed-upon schedule and within the allocated budget. Any delays or discrepancies in the rehab process could raise concerns for the lender, as timely and accurate repairs directly affect the property’s value.
A clean title is essential when securing a hard money loan. The lender will require that any liens or judgments on the property or LLC be cleared before the loan can be disbursed. Ultimately, hard money lenders want to ensure that their borrowers are entering into profitable investment projects, with enough “spread” in the deal to cover all costs, leaving room for profit.
What is hard money used for?
Hard money loans are commonly used in the following scenarios:
- To purchase and repair a property that a traditional bank won’t finance, either due to the property’s condition or the borrower’s credit, with the intention of selling it to a retail buyer. This is typically referred to as a “fix and flip” project.
- To buy and repair a property that a bank won’t finance, with the goal of renting it out. Once rented and stabilized, the property can be refinanced with a traditional bank at a lower interest rate.
- To fund real estate purchases where time is critical, such as when purchasing at a foreclosure auction. While a hard money lender can close within a week, a bank may take months.
- To obtain a fast cash-out refinancing by using an already-owned property as collateral.
- To quickly refinance an existing mortgage coming due.
- To buy out a business partner or family member in a property deal, with plans to refinance into a longer-term loan after gaining full ownership.