Hard Money Lenders Edison

Hard Money Lender in Edison, NJ

Rates Starting at 10%

West Forest Capital is a trusted hard money lender based in New Jersey, offering financing for real estate investments up to $3 million. Among hard money lenders in Edison and throughout New Jersey, we have earned a strong reputation for being the fastest and most reliable option. We understand how every day counts in Edison’s highly competitive real estate market, which is why we prioritize quick approvals and efficient funding.

  • 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

Hard Money Loans in New Jersey - Areas We Serve

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Why Use a Hard Money Loan

  • If you need funding fast. Traditional banks often take weeks or even months to process loan applications and deliver funding. In contrast, West Forest Capital is known for providing same day approval for hard money loans, with actual funding completed within just 3 to 5 business days. In urgent cases, we can expedite the process and provide funds as quickly as 1 day to meet your emergency needs.

  • If the property isn’t stabilized. It is common for banks to decline financing on properties that require significant repairs, lack a valid Certificate of Occupancy (CO), or have inconsistent rental income history. Hard money lenders like West Forest Capital specialize in funding such properties that traditional lenders avoid, providing the necessary capital to invest in or rehab challenging real estate.

  • If you have poor credit. West Forest Capital recognizes that credit scores may not always tell the full story. Events beyond your control can negatively impact credit, but we primarily assess the property’s value rather than relying on your FICO score or debt-to-income ratio when evaluating loan applications, offering you greater flexibility in financing.

  • If you don’t want to take a loan in your personal name. Conventional banks usually require the borrower to hold title to the property personally. However, if you prefer to hold ownership under an LLC or already have multiple properties that limit personal financing options, a hard money loan from West Forest Capital is an excellent solution to keep your personal name separate from the property’s loan.
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Money Lender

Why Choose An Edison Hard Money Lender

Back in 2013, our very first loan was made right here in New Jersey, and we take great pride in being a local hard money lender throughout the state. For instance, we are familiar with rent regulations in towns near Edison and can guide you through complex local rules. If you need help with permits, we can walk you through the process in neighboring areas such as Plainfield, Jersey City, and Union City. We understand the unique character of towns around Edison and are proud to support investors throughout New Jersey.

Investment Property

Financing Your Edison, NJ Investment Property

The real estate market in Edison, New Jersey, benefits greatly from its strategic location near major urban centers like New York City and Philadelphia. The area boasts a robust local economy supported by industries such as pharmaceuticals, financial services, and advanced manufacturing. This economic strength translates into a highly active real estate market with ample opportunities for investors to acquire and improve properties. West Forest Capital, a trusted New Jersey hard money lender, stands ready to assist you in securing financing for your Edison property investments, helping you navigate this competitive market successfully.

Asset-backed Lender

Asset-backed Lender Focused on Customized Solutions

Leveraging our deep expertise in the Edison fix and flip market, West Forest Capital designs flexible loan structures that perfectly align with your hard money financing requirements. We evaluate loans primarily based on the asset’s value, which in some instances has enabled us to finance beyond 100% of the combined purchase and renovation costs. Additionally, West Forest Capital provides the most extended hard money loan term in the market, lasting up to three years, which is especially beneficial for investors focused on holding properties long term.

Reach out today or submit your loan application to get started.

Frequently Asked Questions: Hard Money Loans Edison, NJ

Hard money lenders function as non-bank lenders who make mortgage loans based mostly on the value of the real estate serving as collateral rather than on the borrower’s credit profile. Although both banks and hard money lenders provide mortgage financing, the underwriting guidelines and loan criteria differ considerably. Hard money lenders focus heavily on the underlying property, placing less importance on the borrower’s financial background. Their approval process is much faster, often resulting in loans being funded within one week, as opposed to the several months it can take banks. This speed is ideal for real estate investors buying foreclosure properties at auction where quick closings are mandatory. Hard money lenders will also approve loans for properties that banks often reject, such as those missing a Certificate of Occupancy. These loans are particularly helpful for borrowers with poor or rebuilding credit, since credit scores are less relevant. Additionally, hard money loans can be used to refinance or cash out investment properties but are not intended for financing owner-occupied homes.
Because obtaining a hard money loan is significantly faster and simpler than going through the process of a traditional mortgage from a bank, the interest rate on hard money loans tends to be higher. Typically, interest rates range between 9 and 12 percent, with additional costs of 1 to 3 points charged at closing. The loan term usually lasts between one and two years. Hard money loans are generally structured in two parts: the first portion covers the purchase price, often between 70 to 85 percent of that price, and the second portion covers any rehabilitation work needed to update the property. Hard money lenders frequently finance up to 100 percent of the rehab costs. If no repairs or renovations are necessary, the rehab portion will be excluded from the loan. When rehabilitation is required, the funds are disbursed in arrears as the work progresses. For instance, if a total rehab budget is $50,000, the borrower may complete $15,000 worth of work and then receive that amount from the lender. This process repeats in stages until the entire rehab amount is funded. These loans are usually set up so that the combined loan amount, including purchase and rehab funds, does not exceed 65 percent of the property’s after-repair value, also known as ARV.

Because a hard money loan is classified as a commercial loan, lenders in this space will not provide financing to individuals but exclusively to LLCs. If you don’t yet have an LLC, there is no need to worry; it is straightforward to establish one, and it can have just a single member, which can be yourself.

Hard money lenders carefully review both the purchase price and the after-repair value (ARV) of the property to ensure that the loans they issue will be repaid. Purchasing a property at or below market value is a critical factor in securing financing. When rehab funds are part of the loan, the lender will closely monitor that repairs are completed according to the agreed timeline and schedule. It is also crucial that the property’s title is free and clear. Any liens, judgments, or claims against the property or the LLC borrowing the money must be resolved before loan disbursement.

For a hard money lender, it is vital that the borrower is engaging in an investment or transaction likely to be profitable. Essentially, the lender wants you to succeed in your real estate venture so they can recover their loan. To achieve this, the lender assesses whether there is sufficient “spread” in the deal; meaning, the after-repair value covers the purchase price, rehab expenses, loan interest, closing costs, and any other fees, with enough margin left to make the investment worthwhile for you.

A hard money loan is commonly used in several real estate investment situations:

  • To finance the purchase and rehabilitation of properties that traditional lenders avoid because of the property’s condition or the borrower’s credit history. After the rehab is complete, these properties are usually sold to retail buyers, a process known as a “fix and flip.”
  • To acquire and renovate rental properties that banks decline to fund. Once the rehabilitation is finished, the property becomes “stabilized” and can then be rented out, making it eligible for a conventional refinance at a lower interest rate.
  • To handle purchases with strict deadlines that traditional banks cannot meet, such as buying homes at foreclosure auctions. Direct hard money lenders often close deals in less than a week, whereas banks might take several months.
  • To rapidly access equity tied up in an already-owned property by using it as collateral in a cash-out refinance transaction.
    To quickly refinance an existing mortgage that is approaching maturity in order to prevent default or penalties.
  • To purchase real estate in the name of an LLC. Because traditional banks rarely lend to LLCs, direct hard money lenders offer greater flexibility for property ownership outside of an individual’s personal name.

Hard money loans and flip loans are closely connected but not exactly the same. Hard money loans are provided by private lenders, such as West Forest Capital, and serve a wide range of real estate investment needs, with a primary focus on the property’s value rather than the borrower’s credit score. Flip loans are a specialized type of hard money loan designed specifically for investors who want to purchase, renovate, and then quickly sell properties for profit. While every flip loan falls under the category of hard money loans, not every hard money loan is intended for flipping; they may support other real estate investment strategies as well.

We Value our Broker Relationships

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

New Jersey Hard Money Lender

We can fund hard money loans in 3–5 days

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

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An Edison, 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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