Hard Money Lender in Saratoga Springs, NY
Rates Starting at 10%
West Forest Capital works with property investors in Saratoga Springs as a local hard money lender, financing deals up to $3 million. We are viewed as the fastest hard money lender in Saratoga Springs because we move quickly in competitive markets.
- 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
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 |
Counties Covered
West Forest Capital lends in the following counties and nearby locations around Saratoga Springs:
- Saratoga County
- Ballston Spa
- Wilton
- Malta
- Greenfield
- Clifton Park
- Halfmoon
- Stillwater
- Mechanicville
- Schuylerville
Hard Money Loans in Ithaca - Areas We Serve
Recently Funded Hard Money Loans
- Location: Quogue, Long Island, New York
- Original Purchase Price: $3,675,000
- Rehab Budget: $2,200,000
- Loan Amount: $3,200,000
- ARV: $8,950,000
- Exit Strategy: Sale
- Investor Capital: $1,675,000
- Equity Created: $3,275,000
- Investor Return on Capital: 204%
- Location: Dix Hills, New York
- Original Purchase Price: $999,000
- Rehab Budget: $92,000
- Loan Amount: $867,000
- ARV: $1,355,000
- Exit Strategy: Sale
- Investor Capital: $224,000
- Equity Created: $264,000 (excluding soft costs)
- Investor Return on Capital: 118%
- Location: Staten Island, New York
- Original Purchase Price: $600,000
- Rehab Budget: $60,000
- Loan Amount: $450,000
- ARV: $840,000
- Exit Strategy: Sale
- Investor Capital: $210,000
- Equity Created: $180,000 (excluding soft costs)
- Investor Return on Capital: 86%
Why Use a Hard Money Loan
- If you need funding fast.
A bank’s review process is notoriously slow, and applicants may face long delays. West Forest Capital shortens that waiting period by issuing same-day approvals for hard money loans and providing capital within 3 to 5 days. In urgent emergencies, financing can even be completed within one business day. - If the property isn’t stabilized.
The issue is not always the timeframe, but rather the property’s status. Buildings needing rehabilitation, properties missing a Certificate of Occupancy, or rentals with poor historical performance are often rejected by banks. West Forest Capital is prepared to fund these types of projects when others decline. - If you have poor credit.
Unexpected events may damage credit scores, but West Forest Capital takes a more practical view of the lending process. Instead of relying heavily on personal credit data, our attention is directed to the value of the real estate itself. That focus allows us to make loans possible despite weaker credit standing. - If you don’t want to take a loan in your personal name.
Many banks insist that the borrower personally hold the title to the property in order to qualify for a loan. This becomes a challenge for those preferring an LLC structure or for owners already holding numerous properties. West Forest Capital offers financing that works within these ownership preferences.
Why Choose a Saratoga Springs Hard Money Lender
We proudly work with investors in Saratoga Springs. Being a local Saratoga Springs hard money lender allows us to finance projects that contribute to the city’s long-term success. The area is well known for its historic charm, tourism appeal, and steady appreciation in property values, making it attractive for investment. Investors often target both residential and commercial properties in this market. While opportunities can be lucrative, investors must also carefully consider local regulations and restrictions. With our background in hard money lending in Saratoga Springs, we are ready to provide guidance to help ensure success.
Financing your Saratoga Springs Investment Property
The real estate market in Saratoga Springs has remained vibrant, with a history of appreciating values and a consistent ability to bounce back from downturns. Its range of opportunities gives investors the potential for attractive returns across different projects.
There are Saratoga Springs hard money lenders, but finding one with real knowledge of the area who can help with local realtors, contractors, or deal evaluations is important. West Forest Capital serves as a direct lending partner rather than a broker, which means you can speak to the decision makers directly by calling 212-537-5833 about your deal.
Asset-backed Lender Focused on Customized Solutions
Through our familiarity with the Saratoga Springs fix and flip market, West Forest Capital offers creative financing that adapts to your hard money requirements. Since we lend according to asset value, in certain cases we have funded more than 100 percent of both purchase price and rehab work.
We also extend the longest term hard money loan on the market, up to 3 years, which works well for buy and hold opportunities.
Reach out today or begin your application with us.
Hard Money Lender Saratoga Springs: Frequently Asked Questions
What are Hard Money Lenders?
Hard money lenders act as asset-based providers of financing outside the banking system. Although both banks and hard money lenders issue mortgage loans, the way they evaluate and process applications is very different. Hard money lenders prioritize the value of the property itself, whereas banks place far greater importance on the borrower’s credit profile. Because of this, hard money lenders are able to process loans rapidly, often funding within a single week, while banks may take months to conclude.
Real estate investors frequently choose hard money lenders when buying foreclosures or properties at auction. The strict timelines associated with auctions make traditional bank financing unrealistic, so private lending becomes the logical solution. These loans are also ideal for properties requiring extensive renovations or those lacking a Certificate of Occupancy. In the fast-moving Saratoga Springs real estate market, investors regularly depend on hard money financing to secure properties.
At West Forest Capital, we finance properties that banks consider too risky. Our team is comfortable working with investors who have poor credit, and a low FICO score will not prevent us from offering funding. We also provide refinancing and cash-out options, ensuring that our clients maintain flexibility and speed in pursuing their investment strategies.
How Do Hard Money Loans Work?
Hard money loans are considered easier and faster to obtain than conventional bank loans, but the trade-off is higher interest. The rates usually range between 10 and 12 percent, with an additional two points paid at closing. These loans typically run for one or two years and may be split into two parts.
- 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.
If a project includes rehabilitation, those funds are given out in arrears, which means the borrower must finish part of the work before drawing money. For instance, if $50,000 is designated for rehab, the borrower might complete $15,000 of work and then apply for $15,000 from the lender. This continues until the renovation budget has been used in full.
These loans are widely applied as bridge loans, flipping loans, or commercial real estate financing. The structure ensures that the total of both purchase and renovation costs stays within 65 percent of the property’s ARV. They are favored in competitive real estate environments where rapid access to financing is often the difference between winning or losing a property deal.
What do hard money lenders look for?
At West Forest Capital, we provide hard money loans designed as commercial loans, which means our funding goes to LLCs instead of individual borrowers. If you have not yet formed an LLC, this should not present a challenge, since they are easy to establish, can be completed quickly, and may consist of only one member, which can be you.
When assessing a deal, we examine both the purchase price and the ARV, which stands for After Repair Value, to confirm that the numbers work properly. Properties acquired either below or at market value usually qualify under the best conditions, especially if renovation funding is also requested. In those cases, we want to see a detailed and realistic renovation timeline that demonstrates the work will be finished as planned. In addition, we require a clean property title, meaning that all liens or judgments attached to either the property or the LLC need to be resolved before the loan can close.
Our mission is to help real estate investors achieve profitable outcomes. Like most other hard money lenders, we focus on making sure each investment contains sufficient financial cushion. This ensures that the purchase price, rehab costs, interest payments, closing fees, and other expenses can all be managed while still allowing profit at the end of the project. That is the philosophy we apply to every loan we fund.
For investors in Saratoga Springs who need a financing solution that is both fast and flexible, West Forest Capital offers the reliability and efficiency that traditional lenders often cannot match.
What is hard money used for?
A hard money loan is most commonly used by investors in the following examples:
- To purchase and upgrade a property that traditional lenders refuse to finance, often due to the borrower’s credit profile or the property’s poor condition. Once the work is finished, it can be sold to a retail buyer in what is called a fix and flip.
- To purchase and restore a property that banks decline to finance and then lease it out. After it has tenants and is considered stabilized, it can qualify for refinancing through a traditional bank.
- To complete transactions requiring much faster closings than a bank can provide. Hard money lenders often deliver financing in a week, while banks may take two or three months.
- To gain immediate funds through a cash-out refinance using an already owned property.
- To quickly replace another mortgage that is maturing and must be paid off.
- To buy out a co-owner such as a family member or a partner. A hard money loan can be used initially and then refinanced into a longer term product after sole ownership is secured.