Qualifications for a Hard Money Loan in NJ

Hard money loans can be the ideal financing solution for anyone looking to receive financing for a property that they will be holding onto for a limited period of time. To qualify for a hard money loan in New Jersey, there are a few key elements to consider:

The property should be in an area with comparable homes and can be valued/appraised. Most homes in NJ are in areas that fit this qualification requirement.

Some hard money lenders have minimum loan amounts of $75,000 or $100,000. This varies among lenders.

The investment should provide a good return to the real estate investor. At West Forest Capital, we want the investor to turn a profit on the deals we fund.

A reputable title company needs to be selected. Our team at West Forest Capital can make recommendations.

Experience with the NJ real estate market is a plus. This can include familiarity with the area and neighborhoods.

Working with an experienced contractor is important. Specifically, one that has experience with various building codes and local regulations if there is a rehab required.

We do not have a FICO minimum but prefer over 600. If the score is below that, credit history in NJ is preferable.

Get Your Hard Money Loan with West Forest Capital

There’s never been a better time to apply for a hard money loan in New Jersey. West Forest Capital provides funds to real estate investors and others looking to finance non-owner-occupied real estate. We fund property types which include:

  • Apartments
  • Single-family
  • Multi-family
  • Commercial
  • Industrial
  • Land

We provide rehab funds, or full construction costs, as needed. We also provide fast closings, almost always less than 10 days, and often as quick as 3 to 5 days. We’ve even previously closed a brand new loan in one day! We lend in New Jersey, New York, Connecticut, Massachusetts, Pennsylvania, and Florida.

Please contact me

Please contact me

To get started with your hard money loan,
please call us at 212-537-5833 or text us at 917-267-9523.

Hard Money Loans: FAQs

Hard money loans are short-term loans that are used to acquire investment properties to rehab and then flip for resale or rent. These loans are used by real estate investors and others who are looking to finance non-owner occupied real estate.

Yes, we can often pre-approve you on the same day as when you apply. For a pre-approval letter, please call us at 212-537-5833 or text us at 917-267-9523.

Yes, we do fund rehab costs through a hard money loan. In fact, we can fund 100% of your rehab costs. To do so, you will need to complete a portion of the project. We then send an inspector to review it, and we distribute the funds for the completed work. The entire process takes 2 to 3 days.

Yes, we provide extensions up to 6 months or longer on a case-by-case basis. We understand the timeframe complexities when rehabbing or building a new project – we will work with you.