Private Money Lender Connecticut

Rates Starting at 10%

West Forest Capital is a Connecticut private money lender, financing a real estate investment of up to $3 million. We have gained a reputation as the fastest private money lender in Connecticut because we know how critical each day is in Connecticut’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

Please contact me

Property Types

Lending Parameters

Loan Size$100,000 to $5,000,000
LTCUp to 80% of purchase price
Rehab Funding 100%
LTVUp to 70% of the ARV
TermStandard is 12 months. 24-36 months is available
LienFirst lien; second lien as additional collateral only
Interest Rate 10%–12.5%
Points1.5–2% of the loan amount

Counties Covered

Recently Funded Private Money Loans & Hard Money Loans in Connecticut

Bloomfield

Bloomfield, CT

Our client has been accumulating several homes and lots on the same block for the last several years with the plan to construct a large 50-unit multi-family building on the combined lots.  A Connecticut hard money loan in Bloomfield was used to acquire this home, the 8th and final property.  After the acquisition, our client has been working with the town to obtain permits, and with an architect to create plans for the proposed conversion.  Our client will next secure a permanent construction loan to move forward with the project.

New Britain

New Britain, CT

Our client needed a fast Connecticut hard money loan in New Britain to close on a contact which had been in place for several months.  This is a strong cashflow mixed-use property which contains two commercial units on the ground floor and four apartments on the second floor; the property needed only light rehab, which we also funded 100%.  Given the time sensitive nature of this loan, we were able to close in under 1 week after getting the call, including the time needed to get an appraisal.  Our client is currently in discussions for a permanent rental loan refinancing, a service which we are also able to offer.

East Hampton

East Hampton, CT

Our client was able to secure a purchase contact significantly under market value.  In addition, because our client wanted to minimize the interest rate on this Connecticut hard money, they elected to only borrow 50% of the purchase price.  Although our minimum loan amount is usually $100,000, in this case we were comfortable releasing the rehab very quickly due to the value in the property.  Our client used the rehab funds to quickly finish the rehab and put the property up for sale only 3 months later, paying off the loan a month thereafter.  A month after that our client became a repeat borrower, taking out another hard money loan with us.

Why Use a Private Money Loan

  1. If you need funding fast. While a typical bank may take months to review your loan application, West Forest Capital offers same-day private money loan approval, and funding within 3-5 days. In an emergency situation, we can even fund in 1 day!
  2. 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. Private lenders (private money lenders) such as West Forest Capital will be able to fund the property when a bank can’t.
  3. 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.
  4. 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 private money loan is a great option.
Why Use a Private Money Loan
Why Choose a Connecticut Private Money Lender
Financing Your Connecticut Investment Property
Asset-Backed Lender Focused on Customized Solutions

Why Choose a Connecticut Private Money Lender

Having been a hard money lender in the tri-state area for years, we’ve gotten to know Connecticut pretty well — this fact helps our borrowers big time. Why? Because unlike national lenders or lenders only familiar with the NY/NJ market, we actually understand the value proposition in the various parts of CT and don’t just focus on one area of the state. If you’re looking for a hard money loan in Bridgeport or Greenwich, Stamford or Danbury, Hartford, or New London, we lend in the entire state.

Financing Your Connecticut Investment Property

Connecticut is well distributed by population density, resulting in, relative to its size, a large area of economic activity. The dominant industry in CT is insurance but, bioscience, media, and large-scale manufacturing also play a key part in the state’s economy.

We have seen significant opportunities to purchase properties below market value, and notably, when compared with other states, Connecticut has increased margins associated with rehab projects.

Asset-Backed Lender Focused on Customized Solutions

With our knowledge of the Connecticut fix and flip market, West Forest Capital is able to structure creative transactions that fit your hard money financing needs. We fund loans based on the value of the asset so in some cases we were even able to finance more than 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 who need more time to stablize the property and expect a lengthy refinancing process.

We Value our Broker Relationships

West Forest Capital is the fastest Private Money Lender in Massachusetts

Connecticut Hard Money Lender

We can fund hard money loans in 3–5 days

If you are looking for a Connecticut hard money lender, give us a call

Frequently Asked Questions

A private money lender provides short-term loans for real estate investments which are typically much faster and easier to obtain than traditional bank loans. Private money lending is also known as hard money loans and is used by real estate investors for a variety of investment properties:

  • Fix-and-flip projects
  • Commercial property development
  • Funding apartments, single-family homes, and multi-family home developments
  • Renovation and remodeling projects
  • Land purchases

Connecticut private money lenders, including CT hard money lenders, provide several advantages compared to traditional banks:

  • Quick and Easy Approval: Obtaining a private money loan for investment properties often involves a much faster approval process compared to traditional banks. 
  • Less Prepayment Penalties: Private money loans often come with shorter loan terms (ranging from 1 to 2 years), but do not have prepayment penalties once the loan has been outstanding for 6 months.
  • Accessibility for Many Credit Levels: Private money lenders are more inclined to approve individuals with low credit scores and limited income since these loans are secured by the asset. 
  • Ideal for Real Estate Investors: Private money loans are ideal financing solutions for residential and commercial real estate investors seeking to fund non-owner-occupied properties.

It’s much faster and easier to obtain a private money loan than a bank loan, and therefore the interest rate will be higher than a traditional mortgage from a bank. Interest rates tend to start around 10% and the loan terms are typically 1 to 2 years. 

It’s common for a private money loan to be provided in two parts. The first part is to fund the purchase (between 65-75% of the purchase price). The second part is to fund any rehab that needs to be done on the property. It should be noted that the rehab is funded in arrears, once portions of the planned work are completed.  Rehab funds are typically funded at 100% of the required amount.

Private money lenders typically look for the below before providing funding:

  • Collateral will be closely examined to determine the value and condition of the property
  • Purpose of the loan funds
  • Borrower’s equity
  • Lower LTV ratios are preferred
  • Credit history will be reviewed, but higher scores are not required for loan approval
  • Borrowers must present a clear exit strategy
  • Experience in the real estate industry is a plus
  • Property location can sometimes influence the loan amount

With private money loans (hard money loans), there are no credit score or income requirements. This makes it possible for more real estate investors to obtain funding for their rehab projects. The qualifications for a private money loan include:

  • Down Payment: The down payment serves as collateral for your loan and can range from 20% to 40% depending on the specific type of property. These down payments are calculated based on the Loan-To-Value (LTV) ratio of the property. For example, let’s say you want to purchase a residential property for $400K. If the LTV ratio offered is 70%, then you would be responsible for the $120K down payment. 
  • Appraisal: This is ordered by West Forest Capital.
  • Insurance Policy: West Forest Capital should be the loss payee and additional insured.
  • Builder’s Risk Insurance: For extensive rehab projects. On smaller, cosmetic projects this type of insurance is not required.
  • Lender Title Insurance: West Forest Capital as the beneficiary. 
  • Credit Score: While FICO credit scores of 600+ are preferred, it’s still possible for projects to be funded with a score below this amount.

The typical interest rates for private money lender real estate loans start at 10%. The loan terms range from 12 months to 36 months. 

Securing a private money loan in Connecticut requires submitting essential documentation, including property details, a completed loan application, builder’s risk insurance (for extensive rehab projects), a property appraisal arranged by West Forest Capital, title insurance, and a credit score (approval is possible even with a low credit score). 

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. Private money loans can be used to fund apartments, single-family and multi-family home developments, commercial real estate projects, industrial real estate projects, and projects developing new construction on land. Specifically, they can be used by a real estate investors for:

  • Acquiring and renovating properties that traditional banks won’t finance (due to your credit or the property’s condition)
  • Quickly refinancing an existing mortgage on a property that is approaching its maturity date
  • Obtaining almost immediate cash-out refinancing by using an already-owned property collateral
  • Financing real estate transactions that require a fast closing, which traditional banks might not be able to accommodate
  • Acquiring a property under the name of a Limited Liability Company (LLC). Since traditional banks frequently do not extend loans to LLCs, borrowers interested in owning properties under this structure can choose a private money loan as an alternative

Private money loans are an important resource in the real estate investing industry, particularly for those looking to acquire and develop commercial property or rental property. These loans are a practical solution for financing construction projects by enabling investors to secure the necessary funds quickly. 

Submit a loan request

A Massachusetts direct lender you can rely on

Skip to content Secured By miniOrange