Hard Money Lenders New Hampshire
Rates Starting at 10%
West Forest Capital is a New Hampshire hard money lender, financing real estate investments up to $3 million. We have gained a reputation as the fastest hard money lender in New Hampshire because we know how critical each day is in New Hampshire’s competitive real estate market.
- 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
- Retail
- Office Buildings
- Industrial & Warehouse
- Hotels & Motels
- Special Purpose & Mixed Use
- Parking Garages & Lots
- Land
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 |
Counties Covered
Recently Funded Hard Money Loans
Jersey City, NJ
Newark, NJ
Elizabeth, NJ
Why Use a Hard Money Loan
- If you need funding fast. While a typical bank may take months to review your loan application, West Forest Capital offers same day hard money loan approval, and funding within 3-5 days. In an emergency situation, we can even fund in 1 day!
- If the property isn’t stabilized. Sometimes, it’s not a question of time, but it’s the actual property that a traditional bank won’t finance. Examples include a property that requires rehab, missing a Certificate of Occupancy (CO), or does not have a strong rental history. Hard money lenders such as West Forest Capital will be able to fund the property when a bank can’t.
- If you have poor credit. West Forest capital understands that events that negatively influence one’s credit score can happen from time to time. Therefore, we mostly consider the value of the property, rather than FICO score or debt-to-income ratios when considering funding a loan.
- If you don’t want to take a loan in your personal name. A traditional bank is likely to require that a property is owned directly by an individual they are making the loan to. If you would like to own the property in an LLC, or if you own too many properties for a bank to finance you personally, a hard money loan is a great option.
Why Choose a New Hampshire Hard Money Lender
We look forward to being your capital partner on real estate investments in New Hampshire. Understanding the local area is a key consideration to being able to see the potential in the underlying real estate, and we are proud to know New Hampshire well. Manchester and Nashua anchor the state’s growing population, and both present a cosmopolitan feel while retaining an attractive cost of living. More broadly, the towns of Hillsborough County – such as Bedford, Litchfield, and Milford — have also expanded as these cities have attracted a larger population base. More to the North, Dover and Concord have continued to grow, creating a unique population hub that combines a mixed urban and detached, rural feel. If you are buying an investment property in the cities of Southern New Hampshire, or the suburbs in the area (as of late we have seen a particularly strong investor desire for the Southeast area in the state: Pelham, Windham, Londonderry, Derry, Salem, etc), we are here to provide you hard money financing.
The north of New Hampshire has also seen an uptick in development and investment. Looking for a hard money loan in the ski resorts, or towns such as Conway, Laconia, or Berlin? You’ve come to the right place. We can help finance various types of investment properties, from single family or condo fix-and flips, to multi-family developments, and even commercial and industrial properties.
Financing your New Hampshire Investment Property
New Hampshire’s population is rapidly approaching 1.5 million, increasing by over 250,000 in the last twenty years. The technology, manufacturing, and life sciences industries have continued to provide for strong economic growth in the state and broader region. Southern New Hampshire is also within commuting distance of Boston, with many real estate buyers or renters preferring the location for more space and lower cost of living. A host of recreational activities in the state also provide significant allure.
Many people also find New Hampshire as a financially attractive option. The state does not impose state income tax, which results in significant savings to real estate flippers and owners. There is also no state sales tax, which similar to the first reason, allows for a larger percentage of renters budget to go towards rent – benefitting real estate investors.
Asset-backed Lender Focused on Customized Solutions
With our knowledge of the New Hampshire real estate market, we are able to provide financing that fit your needs as you expand your real estate portfolio. We fund loans based on the value of the asset so in some cases, although not typical, we were even able to finance 100% of the purchase price and rehab amount.
West Forest Capital also offers the longest hard money loan available on the market (3 years), ideal for investors that need more time stabilizing the property and a great “in-between” choice between hard money and longer term financing.
Give us a call! We would be more than happy to present you with a preliminary loan offer right on the phone.
Borrower interview
Interview with our client, Mike, in Massachusetts
Listen to our interview with Mike, a software engineer from Massachusetts, who started in real estate to provide himself with some passive income.
Hard Money Lender New Hampshire: Frequently Asked Questions
What are Hard Money Lenders?
Hard money lenders are non-bank, asset-based lenders. While both banks and hard money lenders make mortgage loans, the requirements and lending criteria often vary significantly from traditional banks. Hard money lenders focus more on the underlying property rather than the borrower. The underwriting process is considerably shorter with a hard money lender, and a loan can often be funded within a week (as opposed to 2 to 3 months or longer with a traditional bank).
Real estate investors, especially those buying foreclosures at auctions, often use private money loans from a hard money lender to fund the purchase because the terms of the auction require an expedited closing process. Hard money lenders also fund properties that traditional banks won’t finance, such as those without a Certificate of Occupancy (CO). Additionally, a hard money lender is a great option for someone with poor credit or rebuilding their credit, as a low FICO score won’t prevent you from securing a loan. These lenders also provide loans to refinance existing lenders or as a way to cash out on a property.
How Do Hard Money Loans Work?
- Funds for the purchase, typically cover 70 to 85% of the purchase price.
- Funds for rehab, if necessary, which may cover up to 100% of the renovation costs.
What do hard money lenders look for?
Because a hard money loan is considered a commercial loan, a hard money lender will not lend to individuals, and will only lend to LLCs. But don’t worry if you don’t have an LLC, they are very easy to create and can have only one member (you).
Hard money lenders analyze both the purchase price as well as ARV to make sure they can get paid back on loans they make. A property that is bought below or at market is an important aspect of obtaining a loan. If the borrower is also taking out a loan for rehab purposes, a hard money lender will want to make sure that the repairs are being done according to the repair schedule and on time. A clean title is also essential when obtaining a hard money loan. Any judgments or liens on the property or LLC that is taking out the loan (remember, the loan must be made to an LLC), will have to be cleared before the loan being disbursed.
It’s important to a hard money lender that their borrower is entering into an investment project that will be profitable for the borrower. In other words, the hard money lender wants you to make money on your real estate investment so that they can get paid back on their loan. The lender will ensure that there is enough “spread” in the deal, which means that the ARV will cover the purchase price, rehab costs, interest on the loan, closing costs, and any other associated fees with sufficient room left over to make the investment profitable for their client.
What is hard money used for?
A hard money loan is most often used in the following scenarios:
- To purchase and repair a property that a traditional bank will not lend on (either because of the property itself or because of the borrower’s credit), which will then be sold to a retail buyer. This is commonly called “fix and flip.”
- To purchase and repair a property that a bank will not lend on, which will then be rented out. Once rented, the property will be considered “stabilized,” and may be refinanced with a traditional bank at a lower rate.
- To fund real estate purchases that need to be done in a timeframe that a traditional bank cannot meet (for example, a foreclosure auction). While a hard money lender can often fund the purchase within a week, a bank may take 2 or 3 months or longer.
- To obtain a fast cash-out refinancing using an already-owned property as collateral.
- To quickly refinance another mortgage on the property that is coming due.
- To buy out a partner or family member. Hard Money loans are a great option to buyout a business partner and then refinance into longer term debt upon gaining full ownership of the property.