Hard Money Lenders in Concord, NH
Rates Starting at 10%
When it comes to hard money lending in Concord, West Forest Capital provides real estate investors with up to $3 million in funding. Our quick and efficient service ensures that you won’t miss out on any opportunity in Concord’s competitive property market. We prioritize the time-sensitive nature of real estate transactions, making sure you can move fast and secure your next big Concord investment with confidence.
- 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 Concord:
- Downtown Concord
- Penacook
- West Concord
- East Concord
- Concord Heights
- North End
Why Use a Hard Money Loan
- If you need funding fast. Unlike traditional banks that may take months to review and approve your loan, West Forest Capital ensures fast approval with same-day decisions and funding in 3-5 days. If time is critical, we can even expedite the process to fund your loan in just one day.
- If the property isn’t stabilized. Banks won’t fund properties that aren’t fully stabilized, whether they require rehab, lack proper certifications, or don’t have an established rental history. At West Forest Capital, we specialize in funding these types of properties, where traditional lenders might walk away. We get you the loan you need, no matter the property’s condition.
- If you have poor credit. Credit challenges can happen to anyone, and West Forest Capital takes this into account. Instead of focusing solely on your credit score, we look at the value of the property itself when deciding on loan funding. This approach helps those with less-than-ideal credit get the funding they need.
- If you don’t want to take a loan in your personal name. While many banks require the property to be in your name to secure a loan, West Forest Capital offers more flexible options. If you want to hold the property through an LLC or have too many properties for personal financing, a hard money loan is an ideal solution.
Why Choose a Concord Hard Money Lender
We are excited to partner with you on real estate investments in Concord. As the state’s capital, Concord offers a unique blend of urban convenience and rural tranquility, making it an attractive investment opportunity for both investors and homebuyers. The city’s steady growth, along with the expansion of nearby areas like Bow and Hopkinton, continues to drive demand for residential and commercial properties. Concord’s excellent schools, government services, and access to outdoor recreation all make it a highly desirable place to live. Whether you are looking to invest in Concord or its surrounding towns, we are here to provide quick and efficient hard money financing to help you capitalize on the opportunities in this growing market, offering flexible funding options to suit your needs.
Concord’s unique combination of urban amenities and rural charm creates attractive investment opportunities. Whether you’re interested in residential or commercial properties, we offer fast and flexible hard money loans. Invest in Concord’s expanding real estate market with our quick financing solutions.
Financing your Concord Investment Property
Concord is seeing steady growth as New Hampshire’s population increases, driven by the strong economic performance of key industries. The state capital offers a balance of urban amenities and rural charm, with easy access to Boston for commuters. Buyers are drawn to Concord’s affordable living and recreational opportunities, making it a prime location for real estate investment.
Concord offers a unique advantage for real estate investors, as New Hampshire does not impose a state income tax or sales tax. This allows property owners and investors to save more on their real estate investments, as more money stays within their pockets. Renters in Concord also benefit from these tax policies, with more of their budget available to support rental property expenses, providing an opportunity for higher returns.
Asset-backed Lender Focused on Customized Solutions
West Forest Capital offers customized financing solutions for real estate investors in Concord, NH. We focus on the value of the property, offering loans that help you expand your investment portfolio. In some cases, we’ve been able to fund 100% of both the purchase price and rehab costs, providing more opportunities to grow your business.
We offer the longest hard money loan term available, up to three years, perfect for investors needing more time to stabilize their properties. This provides an ideal bridge between quick financing and long-term funding options.
Call us now for a preliminary loan offer over the phone. We look forward to helping you secure the right financing for your real estate investments in Concord.
Hard Money Lender Concord: Frequently Asked Questions
What are hard money lenders?
Hard money lenders provide an alternative to traditional bank financing by offering loans based on the value of the property rather than the borrower’s credit profile. This approach leads to faster approvals and shorter underwriting processes, allowing for funding within days instead of the months it may take with a bank. This speed makes hard money lenders a valuable option for investors in need of quick capital for property purchases. Investors can move fast, making it a perfect solution for those looking to capitalize on real estate opportunities in competitive markets.
These lenders are especially beneficial for investors looking to buy properties at auctions or those that banks won’t finance, such as homes without Certificates of Occupancy or properties that need significant repairs. Additionally, hard money lenders are often more flexible with credit history, providing opportunities for individuals with low FICO scores to secure the funding they need. With their focus on the property’s value and faster loan processes, hard money loans are a great option for many real estate investors.
How Do Hard Money Loans Work?
In Concord, hard money loans are a fast and effective way for real estate investors to finance their property purchases and renovations. While interest rates are higher than traditional mortgages, ranging from 10 to 12%, with an additional 2 points charged at closing, the loan approval process is much quicker. The typical loan term lasts 1 to 2 years and is split into two parts:
- Funds for the purchase, typically covering 70 to 85% of the property’s price, and
- Rehab funds, which can cover up to 100% of renovation costs if needed.
In Concord, real estate investors often rely on hard money loans for quick access to capital, particularly for properties that need rehabilitation. Rehab funds are released in stages, with borrowers requesting funds after completing portions of the renovation work. For example, if $50,000 is allocated for rehab, the borrower might request $15,000 after completing $15,000 worth of work, and continue this process until the rehab is completed. These loans are frequently used for bridge loans, fix-and-flip projects, and commercial real estate, with the total loan amount typically not exceeding 65% of the after-repair-value (ARV), making them a valuable tool in markets like Concord where speed and capital efficiency are critical.
What do hard money lenders look for?
Because a hard money loan is considered a commercial loan, a hard money lender will not lend to individuals, and will only lend to LLCs. But don’t worry if you don’t have an LLC, they are very easy to create and can have only one member (you).
Hard money lenders operate based on commercial lending criteria and will only issue loans to LLCs, not individuals. While setting up an LLC is simple and can be done with one member, it’s crucial to meet this requirement for loan approval. The lender will assess the purchase price and after-repair value (ARV) of the property to ensure that the investment offers enough security to guarantee repayment.
If the loan includes funds for rehab, the lender will monitor the renovation progress closely to ensure the work is completed on time and in line with the original plan. This is important to ensure that the property’s ARV increases as expected, helping the borrower repay the loan while maintaining a positive return on investment.
The lender will require a clean title, with any liens or judgments on the property or LLC needing to be resolved before loan disbursement. Ultimately, hard money lenders want to see that the borrower is entering a profitable investment, ensuring the ARV is sufficient to cover the purchase, rehab, interest, closing costs, and any other associated fees, while still allowing for a profit.
What is hard money used for?
Hard money loans are useful in the following cases:
- Purchasing and repairing a property that traditional banks won’t finance, either because of the property’s issues or the borrower’s credit, and then selling it to a retail buyer, commonly known as a “fix and flip.”
- Acquiring and renovating a property that banks will not finance, then renting it out. Once stabilized, the property may be refinanced with a traditional bank at a lower interest rate.
- Securing quick funding for real estate transactions, particularly in time-sensitive situations like foreclosure auctions, where a hard money lender can close within a week compared to a bank’s typical 2-3 month timeline.
- Refinancing an existing property to access cash, using it as collateral.
- Refinancing a mortgage coming due, to extend the loan or adjust terms.
- Buying out a business partner or family member from a property, followed by refinancing once full ownership is obtained.