Private Money Lender Massachusetts
Rates Starting at 10%
West Forest Capital is a Massachusetts private money lender, financing a real estate investment of up to $3 million. We have gained a reputation as the fastest private money lender in Massachusetts because we know how critical each day is in Massachusetts’ competitive real estate market.
- 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 counties in Massachusetts:
Recently Funded Private Money Loans
Jersey City, NJ
Newark, NJ
Elizabeth, NJ
Why Use a Private Money Loan
- If you need funding fast. While a typical bank may take months to review your loan application, West Forest Capital offers same-day private money loan approval, and funding within 3-5 days. In an emergency situation, we can even fund in 1 day!
- If the property isn’t stabilized. Sometimes, it’s not a question of time, but it’s the actual property that a traditional bank won’t finance. Examples include a property that requires rehab, missing a Certificate of Occupancy (CO), or does not have a strong rental history. Private money lenders (hard money lenders) such as West Forest Capital will be able to fund the property when a bank can’t.
- If you have poor credit. West Forest Capital understands that events that negatively influence one’s credit score can happen from time to time. Therefore, we mostly consider the value of the property, rather than FICO score or debt-to-income ratios when considering funding a loan.
- If you don’t want to take a loan in your personal name. A traditional bank is likely to require that a property is owned directly by an individual they are making the loan to. If you would like to own the property in an LLC, or if you own too many properties for a bank to finance you personally, a private money loan is a great option.
Why Choose a Massachusetts Private Money Lender
We love Massachusetts and are proud to be a Boston area private money lender! We are very familiar with the vibe of Back Bay, the history of Beacon Hill, and the energy of the Seaport. You won’t need to explain to us that Somerville, Cambridge, and Jamaica Plain have seen vast price appreciation in recent years. If you need a private money loan in the Boston area suburbs – Ashland, Brookline, Framingham, Newton – you name it, we are right here to help you secure funding.
But we don’t stop there. If you’re looking for a private money loan in Cape Cod, there’s great news: we provide private money loans on the cape too! So if you’re looking to flip a property in Hyannis, Falmouth, Mashpee, Brewster, Chatham, Dennis, Orleans, Provincetown, or anywhere in between, rest assured you’ll get the funding you need.
Financing Your Massachusetts Investment Property
Bucking nationwide trends of movement away from northern states, Massachusetts has grown substantially in population and economic prosperity in the last several years. Many healthcare, technology, and financial services companies are located in MA and take advantage of the highly educated population originating from the vast supply of colleges and universities in the area.
Massachusetts offers real estate value stability while allowing for an appreciation upside due to the population growth in many areas surrounding the city of Boston.
Asset-Backed Lender Focused on Customized Solutions
With our knowledge of the Massachusetts fix and flip market, West Forest Capital is able to structure creative transactions that fit your financing needs. We fund loans based on the value of the asset so in some cases we were even able to finance more than 100% of the purchase price and rehab amount.
West Forest Capital also offers the longest private money loan available on the market (3 years), ideal for buy-and-hold investors.
Give us a call or apply for a loan today!
Borrower interview
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.
Frequently Asked Questions
With private money loans (hard money loans), there are no credit score or income requirements. This makes it possible for more real estate investors to obtain funding for their rehab projects. The qualifications for a private money loan include:
- Down Payment: The down payment serves as collateral for your loan and can range from 20% to 40% depending on the specific type of property. These down payments are calculated based on the Loan-To-Value (LTV) ratio of the property. For example, let’s say you want to purchase a residential property for $400K. If the LTV ratio offered is 75%, then you would be responsible for the $100K down payment.
- Appraisal: This is ordered by West Forest Capital.
- Insurance Policy: West Forest Capital should be the loss payee and additional insured.
- Builder’s Risk Insurance: For extensive rehab projects.
- Lender Title Insurance: West Forest Capital as the beneficiary.
- Credit Score: While FICO credit scores of 600+ are preferred, it’s still possible for projects to be funded with a score below this amount.
Private money loans can be used by a real estate investor for:
- Acquiring and renovating properties that traditional banks won’t finance (due to your credit or the property’s condition)
- Quickly refinancing an existing mortgage on a property that is approaching its maturity date
- Obtaining almost immediate cash-out refinancing by using an already-owned property collateral
- Financing real estate transactions that require a fast closing, which traditional banks might not be able to accommodate
- Acquiring a property under the name of a Limited Liability Company (LLC). Since traditional banks frequently do not extend loans to LLCs, borrowers interested in owning properties under this structure can choose a private money loan as an alternative.
Private money loans are an important resource in the real estate investing industry, particularly for those looking to acquire and develop commercial properties or rental properties. These loans are a practical solution for financing construction projects, enabling investors to secure the necessary funds quickly.
Yes, we do fund rehab costs through a private money loan. In fact, we can fund 100% of your rehab costs. To do so, you will need to complete a portion of the project. We then send an inspector to review it, and we distribute the funds for the completed work. The entire process takes 1-3 days.