Advantages of a Hard Money Loan in NJ

The New Jersey market has become one of the most competitive in the nation as people have moved out from New York City post-Covid-19 seeking more space. The result is many home closures are now being done with cash for the best chance of having the offer accepted. But many individuals are not able to pay with cash to purchase a home or rehab project – this is where hard money loans can help.

Hard money loans act like cash since they are proof of the accessibility of cash. Specifically, hard money loans are short-term loans that are used to acquire investment properties to rehab and then flip for resale or rent. These loans are used by real estate investors and others who are looking to finance non-owner-occupied real estate.

There are several advantages of receiving a hard money loan right now in NJ, which include:

Hard money lenders are able to lend more on a given property than in the past. This is due to rising housing prices in NJ causing the After-Repair Value (ARV) for the properties to become higher, which means the Loan to ARV ratio will also be higher.

A turn-key rehab project will add significantly more value than in the past. This is great news for real estate investors who are taking out hard money loans that offer 100% rehab financing, such as with West Forest Capital.

There’s no need to hire a separate closing counsel or escrow service. The title company will act as a settlement agent for a hard money loan in New Jersey.

Hard money lenders can offer their best terms in the state. This is because NJ is a liquid market right now due to the number of transactions occurring within the state.

Remote parts of NJ and unique properties have become more acceptable to hard money lenders. For example, at West Forest Capital we recently funded a loan in New Egypt, Plumsted Township, in Ocean County NJ for a property that sits on 38 acres.

Get Your Hard Money Loan with West Forest Capital

There’s never been a better time to apply for a hard money loan in New Jersey. West Forest Capital provides funds to real estate investors and others looking to finance non-owner-occupied real estate. We fund property types which include:

  • Apartments
  • Single-family
  • Multi-family
  • Commercial
  • Industrial
  • Land

We provide rehab funds, or full construction costs, as needed. We also provide fast closings, almost always less than 10 days, and often as quick as 3 to 5 days. We’ve even previously closed a brand new loan in one day! We lend in New Jersey, New York, Connecticut, Massachusetts, Pennsylvania, and Florida.

Please contact me

Please contact me

To get started with your hard money loan,
please call us at 212-537-5833 or text us at 917-267-9523.

Hard Money Loans: FAQs

Hard money loans are short-term loans that are used to acquire investment properties to rehab and then flip for resale or rent. These loans are used by real estate investors and others who are looking to finance non-owner occupied real estate.

Yes, we can often pre-approve you on the same day as when you apply. For a pre-approval letter, please call us at 212-537-5833 or text us at 917-267-9523.

Yes, we do fund rehab costs through a hard 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 2 to 3 days.

Yes, we provide extensions up to 6 months or longer on a case-by-case basis. We understand the timeframe complexities when rehabbing or building a new project – we will work with you.