Hard Money Lender in Bridgeport, CT
Rates Starting at 10%
West Forest Capital is a Bridgeport hard money lender, providing financing for real estate investments up to $3 million. We have earned a strong reputation as the fastest hard money lender in Bridgeport because we understand how crucial timing is in the highly competitive real estate market of Bridgeport.
- 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 |
Locations Covered
West Forest Capital lends in the following counties and locations around Bridgeport:
- Fairfield County
- Downtown Bridgeport
- Black Rock
- Seaside Park
- The South End
- North End
- Bridgeport Harbor
Recently Funded Hard Money Loans in Waterbury
Bloomfield, CT
- Location: Bloomfield, CT
- Purchase Price: $425,000
- Rehab Budget: $0
- Loan Amount: $350,000
- ARV: $550,000
- Exit Strategy: Construction Loan
- Investor Capital: $75,000
- Equity Created: $125,000
- Investor Return on Capital: 167%
Our client has been accumulating several homes and lots on the same block for the last several years with the plan to construct a large 50-unit multi-family building on the combined lots. A Connecticut hard money loan in Bloomfield was used to acquire this home, the 8th and final property. After the acquisition, our client has been working with the town to obtain permits, and with an architect to create plans for the proposed conversion. Our client will next secure a permanent construction loan to move forward with the project.
New Britain, CT
- Location: New Britain, CT
- Purchase Price: $350,000
- Rehab Budget: $35,000
- Loan Amount: $245,000 at Closing
+ $35,000 Rehab = $280,000 - ARV: $430,000
- Exit Strategy: Rent & Refinance
- Investor Capital: $105,000
- Equity Created: $45,000
- Investor Return on Capital: 43%
Our client needed a fast Connecticut hard money loan in New Britain to close on a contact which had been in place for several months. This is a strong cashflow mixed-use property which contains two commercial units on the ground floor and four apartments on the second floor; the property needed only light rehab, which we also funded 100%. Given the time sensitive nature of this loan, we were able to close in under 1 week after getting the call, including the time needed to get an appraisal. Our client is currently in discussions for a permanent rental loan refinancing, a service which we are also able to offer.
East Hampton, CT
- Location: East Hampton, CT
- Purchase Price: $100,000
- Rehab Budget: $50,000
- Loan Amount: $50,000 at Closing
+ $50,000 Rehab = $100,000 - ARV: $275,000
- Exit Strategy: Sale
- Investor Capital: $50,000
- Equity Created: $125,000
- Investor Return on Capital: 150%
Our client was able to secure a purchase contact significantly under market value. In addition, because our client wanted to minimize the interest rate on this Connecticut hard money, they elected to only borrow 50% of the purchase price. Although our minimum loan amount is usually $100,000, in this case we were comfortable releasing the rehab very quickly due to the value in the property. Our client used the rehab funds to quickly finish the rehab and put the property up for sale only 3 months later, paying off the loan a month thereafter. A month after that our client became a repeat borrower, taking out another hard money loan with us.
Recently Funded Hard Money Loans in Bridgeport, CT
Bloomfield, CT
- Location: Bloomfield, CT
- Purchase Price: $425,000
- Rehab Budget: $0
- Loan Amount: $350,000
- ARV: $550,000
- Exit Strategy: Construction Loan
- Investor Capital: $75,000
- Equity Created: $125,000
- Investor Return on Capital: 167%
Our client has been accumulating several homes and lots on the same block for the last several years with the plan to construct a large 50-unit multi-family building on the combined lots. A Connecticut hard money loan in Bloomfield was used to acquire this home, the 8th and final property. After the acquisition, our client has been working with the town to obtain permits, and with an architect to create plans for the proposed conversion. Our client will next secure a permanent construction loan to move forward with the project.
New Britain, CT
- Location: New Britain, CT
- Purchase Price: $350,000
- Rehab Budget: $35,000
- Loan Amount: $245,000 at Closing
+ $35,000 Rehab = $280,000 - ARV: $430,000
- Exit Strategy: Rent & Refinance
- Investor Capital: $105,000
- Equity Created: $45,000
- Investor Return on Capital: 43%
Our client needed a fast Connecticut hard money loan in New Britain to close on a contact which had been in place for several months. This is a strong cashflow mixed-use property which contains two commercial units on the ground floor and four apartments on the second floor; the property needed only light rehab, which we also funded 100%. Given the time sensitive nature of this loan, we were able to close in under 1 week after getting the call, including the time needed to get an appraisal. Our client is currently in discussions for a permanent rental loan refinancing, a service which we are also able to offer.
East Hampton, CT
- Location: East Hampton, CT
- Purchase Price: $100,000
- Rehab Budget: $50,000
- Loan Amount: $50,000 at Closing
+ $50,000 Rehab = $100,000 - ARV: $275,000
- Exit Strategy: Sale
- Investor Capital: $50,000
- Equity Created: $125,000
- Investor Return on Capital: 150%
Our client was able to secure a purchase contact significantly under market value. In addition, because our client wanted to minimize the interest rate on this Connecticut hard money, they elected to only borrow 50% of the purchase price. Although our minimum loan amount is usually $100,000, in this case we were comfortable releasing the rehab very quickly due to the value in the property. Our client used the rehab funds to quickly finish the rehab and put the property up for sale only 3 months later, paying off the loan a month thereafter. A month after that our client became a repeat borrower, taking out another hard money loan with us.
Why Use a Hard Money Loan
- If you need funding fast. When time is critical, conventional banks can take weeks or even months to review and approve a loan application. West Forest Capital, on the other hand, provides same day hard money loan approvals, and funding is often available within three to five days. In urgent cases, we can even provide funding in just one day.
- If the property isn’t stabilized. Sometimes the challenge is not the timing but the property itself. Traditional banks may refuse financing for properties that require substantial rehabilitation, lack a Certificate of Occupancy, or do not have a strong rental track record. Hard money lenders like West Forest Capital can step in and fund properties when banks cannot.
- If you have poor credit. West Forest Capital understands that credit scores can be negatively impacted by unforeseen circumstances. We focus primarily on the value of the property rather than the borrower’s FICO score or debt-to-income ratio when determining eligibility for funding.
- If you don’t want to take a loan in your personal name. Traditional banks often require the borrower to hold property ownership personally. If you prefer to hold property in an LLC or own multiple properties that make personal financing difficult, a hard money loan from West Forest Capital is an ideal solution.
Why Choose A Bridgeport Hard Money Lender
Having been a hard money lender in the tri-state area for years, we have developed a deep understanding of Connecticut, which benefits our borrowers greatly. Why? Because unlike national lenders or lenders only familiar with New York and New Jersey, we truly understand the value and opportunities throughout Connecticut and do not focus on just one area. Whether you need a hard money loan in Bridgeport, Fairfield, or Stamford, we lend throughout the entire state.
Financing your Bridgeport Investment Property
While Connecticut does not have a single dominant metropolitan hub, the state is well distributed in terms of population density, creating a relatively large area of economic activity for its size. In Bridgeport and surrounding areas, the insurance industry remains dominant, representing a $16 billion payroll, more than $3.5 billion higher than the next largest sector. Other key industries, including bioscience, media, and large-scale manufacturing, also contribute significantly to Connecticut’s economy. Some stagnation in the real estate market has created opportunities to acquire properties below market value and has increased potential profit margins on rehabilitation projects.
Asset-backed Lender Focused on Customized Solutions
With our deep understanding of the Connecticut fix and flip market, West Forest Capital can structure creative transactions that meet your hard money financing needs. We provide loans based on the value of the property, and in some cases, we have been able to finance more than 100 percent of both the purchase price and the rehab costs.
West Forest Capital also offers the longest hard money loan available in the market, lasting up to three years, which is ideal for buy and hold investors in Bridgeport and surrounding areas.
Give us a call or apply for a loan today and let us help you achieve your real estate investment goals in Bridgeport.
Frequently Asked Questions about Bridgeport Hard Money Loans
The Connecticut real estate market, including Bridgeport, has experienced an increase in potentially lucrative opportunities in rental property investments. Discover the advantages of working with asset-based lenders over traditional mortgages or bank loans when pursuing real estate investments in Bridgeport.
What are hard money lenders?
A hard money or private money lender represents an alternative form of financing for real estate investment, where the loan is secured by the property involved in the transaction. Unlike conventional financing, which evaluates loan approval or denial based on factors such as the borrower’s credit score and history, debt-to-income ratio, income verification, and other qualifying criteria, hard money lenders focus primarily on the value of the property being purchased. If the borrower fails to meet the terms of a private money loan, the lender has the right to seize the property as repayment for the outstanding loan balance.
How do hard money loans work?
Hard money lending generally involves short-term financing arrangements for borrowers who need to secure funds quickly in order to close a real estate transaction. Borrowers turn to hard money lenders to obtain loans for purchasing investment properties in competitive markets. These properties can be residential or commercial, and when multiple parties are interested, speed becomes critical.
With hard money loans, borrowers can be approved and have funding processed within days, in contrast to traditional banks or financial institutions where the approval and funding process can take several weeks or even months.
The property itself serves as collateral for the loan, with repayment terms usually much shorter than those of conventional loans. Many hard money loans may include prepayment penalties or allow early repayment, depending on the lender, but in most cases borrowers have the flexibility to repay the loan sooner than the original contract terms.
What do hard money lenders look for?
Hard money lenders place their primary focus on the value of the property a borrower intends to purchase rather than the borrower’s credit score. Although a borrower’s creditworthiness may still be considered, it is not the main factor in loan approval. Unlike conventional mortgages, hard money loans evaluate the potential value of the property and the borrower’s planned exit strategy. These loans frequently act as bridge financing for borrowers who intend to refinance through a traditional lender or sell the property. Because the terms are shorter than typical bank loans, borrowers should expect repayment to occur over a faster timeline.
What is hard money used for?
A hard money loan is commonly used for real estate transactions involving residential or commercial properties and sometimes to provide temporary financing until another investor or source of funding replaces the loan.
Real estate developers in Bridgeport often turn to hard money lenders in Bridgeport to secure construction loans for their projects. Investors also frequently rely on private lenders to finance the purchase of properties that need significant renovation or repairs.
Is a down payment required?
Yes, most hard money loans do require a down payment, though the exact amount can vary depending on the type of property involved. Unlike traditional mortgage loans or other conventional financing, hard money lenders generally require borrowers to contribute some of their own capital upfront. This requirement helps reduce the lender’s risk while also demonstrating the borrower’s commitment to the project. The size of the down payment is usually determined by factors such as the property’s value, its current condition, and the borrower’s level of experience with similar investments.