Hard Money Lenders Elizabeth

Rates Starting at 10%

West Forest Capital is a New Jersey hard money lender specializing in real estate investment financing up to $3 million. Serving all of New Jersey, we emphasize Elizabeth in our operations and have earned a reputation for fast approvals. We know how critical timing is in Elizabeth’s competitive real estate market and work to keep you ahead.

  • 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

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(Investment Properties Only)

The Trust We've Earned

Enrique GomezEnrique Gomez
12:41 11 Sep 22
Have been working with West Forest for several years now. Great thing is once they give the green light we start working on closing. We closed a deal once in 2 weeks between Christmas and New Years. Client called me, had to close by the end of the year. I was away with my family, we did everything online and when I got back, there was a check waiting for me.
Jennifer NolascoJennifer Nolasco
14:16 09 Feb 22
West Forest Capital was great to work with. Quick cash and quick closing. Thank you. Looking forward to working w you again!
Uriel SychevUriel Sychev
15:33 18 Dec 21
West Forest Capital is a very good hard money lender to work with and they understand local markets really well!
E SE S
19:29 08 Nov 21
THE BEST!!!! COMMUNICATIVE FROM BEGINNING TO ENDAFFORDABLE COMPETITIVE RATES HIGHLY RECOMMIND ESPECIIALY IF YOU ARE DOING HARD MONEY LOAN DEALS THANKS! JOAQUIM
Melanie ShienbaumMelanie Shienbaum
19:54 18 Oct 21
A KA K
13:03 16 Jul 21
I usually don't leave reviews, but they deserve a shout out. Really an A+ lender as user friendly as it gets.
Geven KhlgatianGeven Khlgatian
11:31 16 Jun 21
If you're a serious real estate investor you probably learned a long time ago to skip the banks and go directly to hard money lenders. So much easier. Well among hard money lenders, one definitely stands out to me, and its West Forest Capital. Very knowledgeable and easy, what more can you ask for. I've known them for many years, and they are always, and I mean always, my number one call.
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Property Types

Lending Parameters

Loan Size$100,000 to $5,000,000
LTCUp to 80% of purchase price
Rehab Funding100%
LTVUp to 70% of the ARV
TermStandard is 12 months. 24-36 months is available
LienFirst lien; second lien as additional collateral only
Interest Rate10%–12.5%
Points1.5–2% of the loan amount

Counties Covered

West Forest Capital lends in the following counties in New Jersey:

  • Hudson County
  • Bergen County
  • Passaic County
  • Essex County
  • Morris County
  • Sussex County
  • Warren County
  • Union County
  • Somerset County
  • Middlesex County
  • Hunterdon County
  • Mercer County
  • Monmouth County
  • Burlington County
  • Ocean County
  • Atlantic County
  • Cape May County

Read more about getting a hard money loan in the following areas:

Northern NJCentral NJ,  Jersey Shore

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Jersey City, NJ

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Newark, NJ

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Elizabeth, NJ

Why Use a Hard Money Loan

  1. If you need funding fast. Unlike banks that may take months to process loans, West Forest Capital provides same day hard money loan approval and can fund deals in just 3-5 days. In especially urgent cases, we can even provide funding in 1 day!
  2. If the property isn’t stabilized. Sometimes the delay is not due to timing but the property itself. Banks often decline loans for properties that need repairs, don’t have a Certificate of Occupancy (CO), or lack a strong leasing record. Hard money lenders like West Forest Capital can step in when traditional lenders can’t.
  3. If you have poor credit. West Forest Capital knows that credit issues can happen. We evaluate the property’s value above all, rather than focusing on FICO score or debt-to-income ratios when making loan decisions.
  4. If you don’t want to take a loan in your personal name. Banks frequently require personal ownership of the property they’re financing. If you’d rather buy through an LLC or have too many properties to qualify for more bank financing, a hard money loan is a great alternative.
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Money Lender

Why Choose A New Jersey Hard Money Lender

Our journey began in 2013 with our inaugural loan in New Jersey, and we’ve maintained our roots as a proud New Jersey-based hard money lender. We understand the nuanced rent control laws in places like Elizabeth, Rahway, and Newark. If necessary, we can guide you through the steps of securing permits in Planview, Jersey City, and Union City. We can easily explain the differences between the Oranges, give you the inside scoop on what the Jersey Shore is really like, and, without question, we have a go-to pizza place in Passaic.

Investment Property

Financing your Elizabeth, New Jersey Investment Property

New Jersey presents a dynamic real estate market, positioned close to major hubs including New York City and Philadelphia. Its solid economy is anchored by leading sectors such as pharmaceuticals and life sciences, financial services, manufacturing, technology, and transportation.

This contributes to a real estate market that remains fluid and offers significant prospects for investors aiming to add value.

West Forest Capital, a dedicated New Jersey hard money lender, is prepared to support your success in this active market.

Asset-backed Lender

Asset-backed Lender Focused on Customized Solutions

Leveraging our extensive knowledge of New Jersey’s fix and flip market, West Forest Capital can structure unique transactions tailored to your hard money loan needs. Since we base funding on asset value, there have been cases where we’ve financed over 100% of both the purchase cost and renovation budget.

West Forest Capital further distinguishes itself by providing the market’s longest hard money loan term — 3 years — an ideal solution for buy-and-hold strategies.

Call us now or complete a loan application today!

Frequently Asked Questions: Hard Money Loans Elizabeth

Hard money lenders are non-bank lenders who base loans on the property’s value rather than the borrower’s credit. While banks and hard money lenders both provide mortgage loans, the criteria for hard money lending vary widely from traditional banks. Hard money lenders focus primarily on the asset, leading to a much faster approval process. In Elizabeth’s competitive real estate market, this speed allows investors to close deals quickly—often within a week—as opposed to the months-long waits typical with banks. This is especially beneficial for buyers at foreclosure auctions. Hard money lenders also finance properties that banks often will not, such as those without a Certificate of Occupancy (CO).

This lending option is particularly helpful for those with poor or rebuilding credit, as low FICO scores will not disqualify applicants. Hard money loans are also used for refinancing or cashing out equity on investment properties. It’s essential to understand that these loans are exclusively for investment real estate and are not intended for residential mortgages, meaning you cannot live in a property financed by a hard money lender.

Because obtaining a hard money loan is considerably easier and faster than going through a traditional bank mortgage process, the interest rate for such loans tends to be higher. In Elizabeth’s real estate market, you can expect hard money loan interest rates to fall within the 9% to 12% range. In addition to interest, there are typically between 1 and 3 points charged at closing. The loan terms are short, generally lasting 1 or 2 years. These loans are often broken into two parts: the first part covers the purchase price, usually between 70% and 85% of the property cost, and the second part covers any rehabilitation work needed to bring the property to a current, updated condition. Hard money lenders frequently finance 100% of the rehab costs. If no rehab is necessary, this component is excluded. When rehab is needed, the funds are disbursed progressively in arrears, meaning the borrower completes a portion of the work and then requests the corresponding funds. For instance, if the total rehab needed is $50,000, the borrower may complete the first $15,000 in work and then get funded for that amount. This cycle repeats until all rehab funds are fully distributed. The total loan amount, combining purchase and rehab funds, is usually structured not to exceed 65% of the property’s after-repair value (ARV). This ensures investors in Elizabeth can confidently finance their projects with adequate capital and manageable risk.

Because hard money loans are treated as commercial loans, lenders typically require that the borrower be an LLC rather than an individual. If you do not have an LLC in place, don’t worry—forming one is usually straightforward, and many investors opt for single-member LLCs where they are the sole member to meet this requirement.

When hard money lenders in Elizabeth consider loan requests, they assess both the property’s purchase price and its projected after-repair value (ARV) to ensure the loan will be repaid in full. Acquiring a property at or below market value is a significant factor in loan approval. For borrowers requesting funds for rehabilitation, lenders expect the repair work to be completed according to a defined schedule and within the expected timeframe. Furthermore, a clean title is a non-negotiable aspect of the approval process; any liens, judgments, or claims on the property or the LLC applying for the loan must be fully resolved prior to loan funding.

Hard money lenders want their borrowers to undertake investments that will yield profit, as this ensures the lender will be paid back. They confirm that there is an adequate financial “spread” in the transaction, meaning that the after-repair value of the property will cover the purchase price, rehab costs, loan interest, closing fees, and all associated expenses, while still leaving a sufficient margin for a profitable investment. This rigorous evaluation process is standard for Elizabeth real estate investors utilizing hard money loans to finance their deals.

A hard money loan is frequently used in these circumstances:

  • To purchase and improve a property that banks won’t fund (due to property condition or borrower credit), with the intention to sell to a retail buyer. This approach is often called a “fix and flip.
  • To acquire and renovate a property that banks refuse to lend on, with plans to rent it out. After it’s rented and “stabilized,” it may qualify for refinancing with a traditional lender at a lower rate.
  • To buy a property that must close within a tight deadline that banks can’t meet (such as during a foreclosure auction). Hard money lenders can typically fund these purchases within a week, while banks may take 2 or 3 months or longer.
  • To quickly obtain a cash-out refinance using an already owned property as collateral.
  • To refinance a loan on a property that’s coming due.
  • To purchase a property under an LLC’s name. Traditional banks often won’t finance LLCs, so a hard money loan is a solution for borrowers wanting to keep ownership separate from their personal names.

Hard money loans and flip loans aren’t the same thing, though they are closely linked. Hard money loans are provided by private lenders as private money loans (such as those from West Forest Capital) and are typically used for various real estate investments, focusing on the property’s value rather than the borrower’s credit score. Flip loans are a subset of hard money loans, created specifically for investors who buy, renovate, and quickly sell (flip) properties for a return. While all flip loans are a type of hard money loan, not all hard money loans are used for flipping; they can fund other types of real estate projects too.

We Value our Broker Relationships

West Forest Capital is the fastest Hard Money Lender in Elizabeth, New Jersey

New Jersey Hard Money Lender

We can fund hard money loans in 3–5 days

If you are looking for an Elizabeth, New Jersey hard money lender, give us a call

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An Elizabeth, New Jersey direct lender you can rely on

Interview with our client, Joscan, in New Jersey

Joscan “Jay” Garcia is a realtor and real estate investor.  He joined us for a discussion to dive into his business and strategies.

hard-loan-interview

West Forest Capital: We’re happy to have you on, Jay.  

Jay: Thank you.

West Forest Capital: Could you give us a sense of your background and how you got into real estate? 

Jay: Sure.  So, as far as in the background, my parents were real estate investors in Venezuela, and, I guess that’s how I developed the love for real estate.

I came here and I started about four years ago.  I first tried different other industries and then I came into real estate, and I liked it. I fell in love with how you can just easily grow if you’re dedicated and create the right partnerships.

West Forest Capital: Awesome. And do you also work as a realtor?

Jay: Yeah, I do. I have my license.  So I do both depending on the circumstances: I could either help my clients list the property and get top dollar, or I could always go for the cash offer and buy it myself. I also help people who are facing foreclosure or if they are at risk of losing their house or have any issues with a bank.

West Forest Capital: Yeah, it makes sense. So in terms of your own real estate investments, can you tell us what you focus on and what your strategy is? Is it fix and flip? Is it buy and hold?

Jay: So actually I’ve, I’ve done all of those that you just mentioned.  I started with you guys on a fix and hold.  That was my first deal.

I fixed the property up, and now it’s one of my rentals.  I also flipped a few homes in Morris County. I try to do a little bit of everything, to be flexible and be able to cover different, different aspects of the business.  

West Forest Capital: So what areas do you operate in? You mentioned Morris County as one, do you operate in others as well?

Jay: Yeah, Morris County mostly. My main areas in addition to that are, Middlesex, Essex and Union. Central Jersey is where I do most of my business.

West Forest Capital: Right. It makes sense. Can we into one of the projects you worked on, maybe go more into the specifics there.  We helped you out most recently with 933 Chancellor in Irvington, NJ.  Maybe we can talk about that one.

Jay: So I’m actually very grateful that you guys were able to help me.  Before you guys came into the picture, I was talking to another hard money guy and he hadn’t been able to close.  It was getting to be 30-45 days and it was getting close to the expiration date of the short sale, and the guy wouldn’t give me a straight answer. 

So one of the things I like about West Forest Capital is that you guys were straightforward from the get go.

You told me what to expect. What terms to expect and essentially told me everything straight up upfront and you guys delivered in a matter of six, seven days. And that was like, a huge, huge deal for me because I really needed to close on that property.  

It was very smooth working with you guys, very easy.  I never had any problem getting rehab funding or anything like that.

You guys were very, very, very flexible and you understand the business. So, I felt really comfortable working with you guys. 

West Forest Capital: Excellent, thanks very much! We’re very happy to hear that feedback of course.  

So can you talk a little bit about the actual property and your strategy?  

Jay: So when I bought it, he had been vacant for about seven years.  It was a foreclosure home essentially. 

West Forest Capital: So it was a single family home?  

Jay: Actually, a two family with a bonus with the basement.

So I had to come in and gut out the basement and most of the first and second floor.  That was something I was expecting when I got into the deal.  I put in new flooring everywhere, new kitchens.  I got rid of the old heating and cooling system and I put in a new central AC and central heat, and essentially renovated the entire property.

It took me about six or seven months.  I was hoping to do it in two months, but that definitely didn’t happen as my contractor delayed things a bit [laughs].  I also had some issues with the gas company because the property had been vacant for so long – had to get some permits and pressure tests, things like that.

Image provided for illustration purposes

West Forest Capital: So as you think ahead, like what type of projects do you want to work on? Where do you see your investment strategy going? 

Jay: Well, I like to stick with what I know – so dealing with foreclousres and focusing on buy and hold.  My thing is mostly buy and hold.  

So for example, the deal I did with West Forest Capital’s help, I bought the property and fixed it up.  After I fixed it up, I refinanced it and took all of my money out.  I like deals like that and those are the deals I seek.

West Forest Capital: That is very impressive.  And equally impressive is how you understand the whole process, how to pull all of your equity out, etc.

So, how many properties do you own right now?

Jay: Right now I own 4 properties.  

One of them was actually originally a wholesale deal that I bought to fix and flip but I decided to wholesale it.  After I bought it, I said wait and second, I’ve never done a wholesale before, let me try that out.  And I kind of did the math, and I realized I would make almost the same as if I fixed it up [and flipped it], so I hold 4 properties but one of them I am about to dispose of. 

West Forest Capital: Got it. 

Turning our attention to the brokerage side of your business, could you talk about what kind of deals you help your clients with? Are they mostly investors or looking for their primary residence?

Jay: I have a mix.  I have investors, and I also help a lot of people facing foreclosure. 

One of my best or most successful stories was a couple.  I sold their home as a short sale two years ago. And a couple of months ago, it was the two year anniversary of the short sale, and we were able to close on a $830,000 house Cranford, NJ.

When I met them, their finances were horrible! I mean, they were losing their house and everything; two years later they were able to buy their dream home in Cranford! 

So, you know, things like that, it’s normally what I do. I help a lot of people with foreclosures.

I also help people with listing their homes [for sale] – mostly I deal with listings, I have a lot of listings coming up, and a few retail home buyers that I also work with.

West Forest Capital: That’s very impressive.  Particularly as it comes to that couple, because it sounds like you weren’t just able to help them on the real estate side, which obviously you did, but almost from an overall finances perspective, right?

Jay: Yeah. So they tried to work things out with different attorneys and other realtors before I worked with them.  Nothing seemed to work out.

After I started workin with them, we got the bank to pay $20,000 in IRS liens and back taxes that they had, and the bank still paid them $10,000 just to do the short sale.  

We were really able to help them.  I connected them with a credit repair guy. They followed my advice – that’s what’s special about them – they followed my advice and then two years later we were able to close on their dream home! 

West Forest Capital: That is terrific! 

Jay: One other thing I wanted to mention was how great it has been to refer business to you guys.

I deal with quite a few investors and was helping one of them recently.  

I had a deal that was about to expire.  I contacted you guys over the weekend. 

You guys were able to put the deal together and fund that deal on Monday.  That was mind blowing! You closed a deal in 3 days and on top of that you paid me a referral fee, so I am grateful for that.

One thing I like about you guys is that you deliver.  It’s not like some other lenders, when they say “oh I can get you a lower rate, or lower down payment” but then when it comes time to close, they blame their underwriter for not being able to deliver. You guys are straightforward to the point and you guys deliver, which is awesome.

West Forest Capital: Thank you! We love that positive feedback!  

How can people get in touch with you?

Jay: Sure, so my email is jocsan.garcia@exprealty.com or call me 732-668-0770.  Or google my name! Jocsan Garcia.

West Forest Capital: Thanks for taking some time to chat with us today. We look forward to partnering with you in the future. 

Jay: Thank you.  It’s been my pleasure.

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