Renovation Loans in Jersey City
Rates Starting at 10%
West Forest Capital is a renovation lender, financing real estate investments up to $5 million. We have gained a reputation as the fastest renovation lender because we know how critical each day is in the competitive real estate market.
- We are a direct lender, not a broker
- Same day pre-approval
- Funding in 3-12 days, although 1 day is possible
- Loan amounts up to $5 million
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 |
Counties Covered
West Forest Capital lends in the following counties
- Bergen County
- Burlington County
- Essex County
- Hudson County
- Mercer County
- Middlesex County
- Monmouth County
- Morris County
- Ocean County
- Passaic County
- Somerset County
- Sussex County
- Union County
Recently Funded Investment Property Renovation Loans
- Location: West Orange, NJ
- Property type: Duplex
- Funded at closing: $235,000
- Rehab funds: Not Required
- Total loan: $235,000
- Location: Clifton, NJ
- Property type: Mixed Use
- Funded at closing: $600,000
- Rehab funds: Not Required
- Total loan: $600,000
- Location: Bernardsville, NJ
- Property type: Mixed Use
- Funded at closing: $225,000
- Rehab funds: Not Required
- Total loan: $225,000.00
Why Use a Renovation Loan
- If You Need Rapid Funding: Unlike traditional banks that may take months to process your loan application, West Forest Capital offers same-day approval for investment property renovation loans, with funding available in just 3 to 12 days. In urgent cases, we can even provide funding within 24 hours.
- Because the Property Requires Renovation: Traditional banks often shy away from financing properties that need rehab, lack a Certificate of Occupancy (CO), or have other issues. West Forest Capital specializes in funding investment property renovation loans for properties that do not meet standard banking criteria.
- If You Have Less-Than-Perfect Credit: We understand that situations come up in life that might impact credit. That’s why we focus on the property’s value rather than your credit score when underwriting the loan.
- It’s Investment Real Estate: Typically, banks require loans to be made to individuals. But you are renovating your investment property and it should be treated as such by being in an LLC. This way, you get all of the benefits of owning an LLC, and the renovation loan is structured as a business-purpose loan to your LLC.
Why Choose Us For Your Renovation Loans in Jersey City
We’re passionate about supporting real estate investors with their renovation projects, providing specialized renovation loans tailored to meet your project’s unique needs. Our expertise spans beyond local regulations; we understand the critical elements involved in planning, budgeting, and structuring renovation financing for properties in various markets. With experience working alongside contractors, navigating permit requirements, and coordinating with city inspectors, we’re prepared to guide you through the entire renovation loan process. Let us be your trusted partner, helping you bring your investment properties to life with confidence and ease.
Finance Your Renovation Property
The market for renovating properties is strong, with high demand and a solid supply of homes ready for improvement. This setup offers a promising opportunity, with attractive spreads between purchase prices and renovation costs.
However, this active market also brings competition, as many real estate investors want to capitalize on these opportunities. Our team at West Forest Capital is here to help you gain an edge with committed, cash-equivalent capital and make sure your renovation process is as seamless as possible. Let us support you every step of the way to help make your project a success.
Asset-backed Lender Focused on Customized Solutions
We are guided by the current “as-is” market value, the renovation costs, and the “after repaired value.” We are easy to work with and typically provide a large amount of the purchase price and 100% of the rehab costs. We are also flexible: if you do the construction out of order from your original schedule, or have a budget overrun, we will work with you to make sure your renovation project is successful.
West Forest Capital also offers the longest hard money renovation loan available on the market (2 years), which is a great option for those projects that may take a bit more time.
Call us today, and let’s talk about your loan scenario. Most likely, we will be able to fund you.
Submit a loan request
A Jersey City direct lender you can rely on
Frequently Asked Questions
What are renovation lenders?
Flipping a property or tackling a renovation project in Jersey City? West Forest Capital offers asset-based loans designed for investors like you. We focus on the property’s value rather than your credit history, ensuring quick approvals and fast funding. Unlike traditional lenders, our process is streamlined, allowing you to secure financing within days—perfect for properties needing rehabilitation or missing a Certificate of Occupancy.
How do renovation loans work?
At West Forest Capital, we’ve streamlined the renovation loan process for efficiency. Expect interest rates between 9 and 12%, with closing costs included. We finance up to 85% of the purchase price and cover 100% of renovation costs, released in phases as work progresses. These short-term loans are structured to maintain total financing below 65% of the after-repair value (ARV), ensuring a smart investment.
What documents or information will I need to provide to get pre-approved?
If you’re investing in Jersey City and need pre-approval, you’ll be asked to provide essential details such as the property’s purchase price, renovation costs, and projected after-repair value (ARV). Unlike traditional home equity or improvement loans, we emphasize the property’s value and potential rather than just your credit score. Submitting recent financial records and proof of LLC ownership can further accelerate your approval.
What do renovation lenders look for?
As a trusted private money lender, we focus on funding LLCs rather than individuals. Our process emphasizes both the purchase price and ARV, ensuring the investment aligns with market value. We evaluate key aspects like acquiring below-market properties, sticking to a structured rehab schedule, and verifying a clear title. By doing so, we aim to set you up for profitability and a seamless loan repayment.
What is a renovation loan used for?
West Forest Capital offers renovation loans tailored for real estate investors in need of quick, flexible financing. Whether flipping, renting, or purchasing at auction, our funding moves faster than banks allow. Investors also rely on us for cash-out refinancing, mortgage refinancing, and purchasing properties under an LLC—opportunities that traditional lenders frequently overlook.
How is the home renovation loan budget assessed and approved?
We carefully assess your rehab budget to ensure it fits within the property’s overall improvement plan and projected ARV. Our funding covers 100% of qualifying rehab costs. If changes arise mid-project, we offer the flexibility to adapt—something that sets us apart from traditional home improvement and home equity loans.
What should I consider before applying for a renovation loan?
Before securing a renovation loan, analyze the potential return on your property investment and establish a clear roadmap for renovations. As a trusted private lender, West Forest Capital ensures that your project is structured for profitability and long-term success. Understanding the financial terms and aligning them with your project timeline and expenses will help you make the most of your renovation funding.
How quickly can I access funds once approved for a renovation loan?
Once approved, accessing your renovation funds quickly is one of the many advantages of working with West Forest Capital. We prioritize speed, making sure you can close deals and start renovations immediately, keeping your investment on track. In a fast-moving market, our ability to deliver timely financing makes us a top choice for real estate investors.
Can I apply if I have had credit issues in the past?
Yes, you can apply regardless of past credit difficulties. We take a broader approach, prioritizing the investment’s value over a strict credit score requirement. While we do review financial history, we aim to support investors whose properties have a strong ARV, giving them the opportunity to secure funding and move forward with their projects.
Do I need to have an LLC before applying, or can I set one up after loan approval?
Before we can close on your loan, you’ll need to have an LLC in place. Our renovation loans are structured for business use, which means they’re only issued to LLCs, not individuals. If you’re exploring other financing methods, personal loans or home equity loans may be options. However, they typically offer less flexibility and lower funding amounts for investment properties.
Can I use the loan to finance renovations for rental properties, or is it only for properties intended for resale?
Yes, you can use our renovation loans for rental properties or homes you plan to sell in Jersey City. Whether you’re renovating to attract tenants or increasing the resale value, our financing options give you the flexibility needed. Traditional home equity lines and personal loans often don’t cater to investment properties, but our loan structure is designed specifically to support real estate investors like you.