Renovation Loans in Waltham
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
- 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
Recently Funded Investment Property Renovation Loans
Jersey City, NJ
Newark, NJ
Elizabeth, NJ
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 Waltham
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.
Borrower interview
Interview with our client, Mike, in Waltham
Listen to our interview with Mike, a software engineer from Waltham, who started in real estate to provide himself with some passive income.
Frequently Asked Questions
What are renovation lenders?
If you’re investing in Malden real estate, securing fast and flexible financing is essential. West Forest Capital provides asset-based renovation loans, focusing on the property’s value rather than your credit history. Unlike traditional banks with lengthy approval processes, we offer a streamlined approach, ensuring funding within days—perfect for properties in need of rehabilitation or without a Certificate of Occupancy.
How do renovation loans work?
Securing a renovation loan through West Forest Capital is easy. Interest rates range from 9 to 12%, with additional closing costs. We finance up to 85% of the property’s purchase price and 100% of the renovation costs, disbursed in increments as work progresses. Designed for short-term use, our loans keep the total amount financed under 65% of the after-repair value (ARV).