Hard Money Lenders Framingham, MA
Rates Starting at 10%
West Forest Capital is a reliable hard money lender in Framingham, MA, offering real estate financing up to $3 million. As one of the fastest lenders in the region, we understand the urgency in Framingham’s thriving real estate market. With our efficient process, you can access capital swiftly, allowing you to act quickly on residential or commercial opportunities without the hassle of traditional lending delays.
- We are a direct lender, not a broker
- Same day pre-approval
- Funding in 3-5 days (1 day possible)
- Loan amounts up to $5 million
The Trust We've Earned
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 |
Areas Covered
West Forest Capital lends in the following locations in Framingham, MA:
- Coburnville
- Downtown Framingham
- Framingham Centre
- Golden Triangle
- Nobscot
- Salem End Road
- Saxonville
- West Framingham
Why Use a Hard Money Loan
If you need funding fast. Banks often require long approval processes, but West Forest Capital can provide same-day approval for your hard money loan. We can fund within 3-5 days, or in urgent cases, we’ll have your loan ready in as little as 24 hours.
If the property isn’t stabilized. A property’s condition or lack of proper documentation can prevent traditional banks from approving loans. Whether it’s a fixer-upper or lacking a Certificate of Occupancy (CO), these factors can disqualify a property from conventional financing. West Forest Capital is here to fund properties that other lenders would typically decline.
If you have poor credit. At West Forest Capital, we understand that credit scores can be affected by a variety of life circumstances. Instead of relying on FICO scores or debt-to-income ratios, we focus on the property’s value, giving you a chance to secure financing based on the investment’s potential rather than your credit history.
If you don’t want to take a loan in your personal name. Traditional banks typically require property ownership to be in the borrower’s name, but for many investors, this isn’t the best option. Whether you’re looking to protect your personal assets or own multiple properties, a hard money loan allows you to invest through an LLC, offering greater flexibility.
Why Choose A Framingham, MA Hard Money Lender
Our goal is simple: to be the leading hard money lender in Framingham, MA. We specialize in this thriving suburb, known for its strong real estate investment potential. With deep knowledge of the local market, including trends, population growth, and property values, we are the trusted lender for all your real estate financing needs in Framingham.
In Framingham, MA, we provide direct hard money loans in areas like the Downtown District, the Framingham Centre Historic District, and the neighborhoods surrounding Route 9. Our expertise extends to financing commercial properties along key roads like Concord Street and Waverly Street, where retail and mixed-use developments are rapidly growing. We also fund fix-and-flip projects in suburbs like Natick, Ashland, and Sudbury, where the demand for renovated homes continues to rise and home prices are climbing.
If you’re looking for hard money loans in nearby towns like Marlborough or Hopkinton, we can assist you. Additionally, we offer financing throughout Middlesex County, including towns like Acton, Bedford, and Lexington, all of which continue to see steady growth and provide great investment opportunities for real estate investors.
Financing your Framingham, MA Investment Property
Framingham, MA, has become one of the fastest-growing suburbs of Boston, with a business-friendly environment and a diverse population driving economic growth. The area’s proximity to Boston, coupled with its own thriving industries, has led to a growing demand for both residential and commercial properties. As more people move to Framingham, MA, the city’s real estate market continues to flourish, making it an ideal location for investors to explore.
Framingham’s real estate market offers a variety of investment opportunities, whether you’re looking to purchase distressed properties in suburban neighborhoods, capitalize on value-add opportunities in mixed-use developments, or invest in stabilized properties. West Forest Capital provides the financing you need to take advantage of Framingham’s growing market, whether you are pursuing fix-and-flip projects or larger-scale commercial investments.
Asset-backed Lender Focused on Customized Solutions
With years of experience in Framingham’s growing residential and commercial real estate markets, West Forest Capital offers tailored and creative financing options to suit your needs. We base our hard money loans on the value of the property itself, and in certain circumstances, we can finance up to 100% of both the purchase price and rehabilitation costs, as long as additional collateral is provided.
We also provide the longest hard money loan terms available in Framingham, MA, extending up to 3 years. This long-term financing solution is ideal for investors who need more time to stabilize properties before refinancing or selling, providing flexibility between short-term hard money loans and longer-term traditional financing.
Give us a call today to explore your financing options for real estate investments in Framingham, MA.
Hard Money Lender Framingham, MA: Frequently Asked Questions
What are hard money lenders?
Hard money lenders are private, asset-backed financial institutions that function outside of the traditional banking system. Unlike banks, which require lengthy documentation and adhere to strict approval processes, hard money lenders primarily focus on the value of the property being financed, making for a much quicker approval process. With the speed and simplicity of the underwriting process, funding can often be secured within just one week, while traditional banks can take months to close on a loan.
In Framingham, MA, real estate investors rely on hard money lenders, especially when bidding on properties at foreclosure auctions where time is of the essence. Hard money lenders also provide financing for properties that banks won’t touch, such as those without a Certificate of Occupancy or in need of significant renovation. These types of lenders are beneficial for borrowers with less-than-ideal credit scores, as they don’t prioritize FICO scores in the approval process.
At our firm, we specialize in providing flexible financing options for real estate investors looking to make the most of Framingham’s growing real estate market.
How Do Hard Money Loans Work?
In Framingham, MA, hard money loans offer a quicker, more efficient alternative to traditional bank mortgages. While these loans come with higher interest rates, typically ranging from 10% to 12%, they offer a significantly faster approval and funding process. Borrowers should expect to pay an additional 2 points at closing. These short-term loans typically have a 1 to 2-year term, making them perfect for projects that require quick turnaround and fast cash flow. The loan is structured in two key parts:
- Purchase funds, typically covering 70% to 85% of the property’s purchase price.
- Rehab funds, which may cover up to 100% of the renovation costs, helping to finance necessary repairs and improvements to bring the property to market value
Hard money loans for rehab projects are distributed in arrears, meaning that funds are released as portions of the rehab work are completed. For example, if $50,000 is allocated for the renovation, the borrower might complete $15,000 of work before requesting a $15,000 disbursement. This method continues until the project is finished. These loans are ideal for fix-and-flip ventures, bridge loans, or commercial real estate investments, ensuring that the total loan, covering both the purchase price and rehab costs, doesn’t exceed 65% of the after-repair value (ARV). In competitive markets like Framingham, MA, where quick decision-making is crucial, hard money loans enable investors to secure properties and renovations swiftly, maximizing potential returns.
What do hard money lenders look for?
Hard money loans are typically structured as commercial loans, meaning the lender will not issue a loan directly to an individual. Instead, loans are made to LLCs, which provides a layer of protection for both the lender and the borrower. Fortunately, forming an LLC is an easy process that can be completed quickly, and the LLC can be set up with just a single member, typically the investor. This allows real estate investors to obtain financing in a faster, more efficient manner.
Hard money lenders evaluate the purchase price and after-repair value (ARV) to assess the risk of the investment. Lenders require that the property is purchased at or below market value, ensuring that their investment is secure. If the loan includes funds for rehab, the lender will stay involved throughout the process by monitoring the progress of the renovation and ensuring that the work stays on track and within budget. Additionally, the lender will require a clean title, and any liens or judgments on the property or the LLC must be cleared before funds can be disbursed.
For hard money lenders, the profitability of the borrower’s project is crucial. The lender’s repayment is tied directly to the investor’s success, so they ensure that the ARV is sufficient to cover all costs, including the purchase, rehab, and interest, while still providing a reasonable profit margin for the borrower.
What is hard money used for?
Hard money lending is frequently used by Framingham, MA real estate investors in the following scenarios:
- To purchase and rehabilitate a property that a traditional bank would not lend on, either because the property’s condition doesn’t meet the bank’s criteria or because the borrower’s credit history doesn’t qualify, and then sell it to a retail buyer. This approach is known as “fix and flip” and is commonly used by investors looking for quick returns on distressed properties.
- To purchase and rehabilitate a property that banks won’t approve, then rent it out. After the property is rented and stabilized, it may qualify for refinancing with a traditional bank at a significantly lower rate, which helps reduce ongoing expenses and improves cash flow.
To finance time-sensitive real estate deals that need to close quickly, such as purchasing properties at foreclosure auctions. While banks may take months to process a loan, hard money lenders can fund deals in as little as a week, providing the investor with the flexibility to act fast. - To obtain fast cash-out refinancing using an existing property as collateral.
- To refinance a maturing mortgage on a property that is coming due.