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West Forest Capital

Hard Money Lender Queens

Interest Rates Starting at 10%

West Forest Capital is a Queens, New York hard money lender, financing real estate investments up to $5 million. We have gained a reputation as the fastest hard money lender in Queens, New York because we know how critical each day is in New York’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

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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

Cities Covered

West Forest Capital lends in the following neighborhoods in Queens:
  • Astoria
  • Elmhurst
  • Jackson Heights
  • Jamaica
  • Flushing
  • Forest Hill
  • Kew Gardens
  • Long Island City
  • Sunnyside

Recently Funded Hard Money Loans

Palm Beach Gardens , FL​

Naples, FL

We made a Florida hard money loan to a client who purchased a three-bedroom, three-bathroom condo in a sought after building in Naples, Florida.  Our client’s strategy was to generate returns by using the property for seasonal and short-term Airbnb rentals, which would generate higher ROIs vs. an annual lease.  We provided a hard money loan of 71.8% of the purchase price, and our client self-funded light rehab, mostly cosmetic in nature.  Our client repaid our loan with a paydown generated from the sale of another property.  At the time of paydown, the property experienced appreciation of nearly $63k.
West Palm Beach, FL

New York, NY

This New York hard money loan was made to a client who owned an existing building in Manhattan.  The building consists of six full floor condominiums, and our loan was collateralized by one of the units.  At the time of our loan, there was no existing debt on the building.  Our loan consisted of two parts: $1.1m at closing for general renovation and upgrading of the building (including replacing the elevator) and $200k specifically used to rehab the subject property.  After the extensive upgrades were completed, the unit was put on the market and sold for $4.6m, an increase of $650k from the original appraisal.  Our loan was paid off with a portion of the proceeds from the sale.
Boynton Beach, FL​

Miami, FL

Our client utilized a hard money loan in Miami, Florida to fix and flip this property in Surfside.  We funded 72.5% of the purchase price, and 100% of the $110,000 rehab budget.  Our client spent approximately 5 months renovating the house, and thereafter, the property sold within a week of being on the market.  The closing took place approximately a month later, and although the loan was only outstanding for 6 months, there was no prepayment penalty assessed.  Our loan was paid back with a portion of the proceeds from the sale, netting our client north of $200k after accounting for all holding and closing costs.

Why Use a Hard 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 hard 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. Hard 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 hard money loan is a great option.
NYC hard money lender
NYC hard money loans

Why Choose a Queens Hard Money Lender

We are an experienced Queens hard money lender. Not only are we intimately familiar with the borough, but we also take pride in being able to help the community improve the housing stock or obtain critical capital when it is most needed. Queens is one of the most diverse places on earth, and as such the investment real estate opportunities are diverse as well. Whether you are looking to purchase a co-op, condo, single family or multi-family property, we are your go to lender. We are likewise very familiar with commercial and retail projects and even lend on industrial buildings. No matter the scenario, if you need financing for Queens investment real estate – we can help.
NYC hard money loans

Financing your Queens County Investment Property

To obtain a Queens real estate hard money loan, it’s important that you demonstrate knowledge of the local area, and have a good grasp of things like rent regulations, potential rents, real estate taxes, property history, and any violations that come with the property.

The next step is demonstrating that there is sufficient equity in the property to cover the loan in a cash-out refinancing situation, or that there is a substantial down payment to show true “skin in the game” on a purchase. As for your credit score, we do not have a minimum required FICO. Having said that, we do prefer to work with clients who have shown to be responsible borrowers in the past.

Lender Focused on Customized Solutions

Asset-backed Lender Focused on Customized Solutions

With our knowledge of the Queens, New York real estate market, West Forest Capital is able to provide you with a hard money loan that will fit your funding needs. The loans we make are largely based on the value of the asset, which means that in some cases where we are provided with additional collateral, we can finance 100% of the purchase price and rehab amount.

Although our typical loan is for one year, if you need a longer timeframe to stabilize or sell your investment property, there is good news. We now offer loans up to 3 years, which is an ideal product allowing you to work on the property without the typical pressure of a short maturity date.

Give us a call or apply for a loan today!


Hard money lenders in Queens, New York, unlike traditional banks, are non-bank institutions that specialize in asset-based lending. While both banks and hard money lenders offer mortgage loans, there are notable differences in their requirements and criteria. Hard money lenders place a stronger emphasis on the value of the underlying property and less on the borrower’s qualifications. This results in a significantly shorter underwriting process, with loans often funded within a week—contrasting with the lengthier timelines typical of traditional banks, which can extend to 2-3 months or more.

As a result of their streamlined processes, real estate investors, particularly those purchasing foreclosures at auctions, often turn to hard money lenders to facilitate quick transactions mandated by auction terms. Additionally, hard money lenders finance properties that traditional banks may decline, including those lacking a Certificate of Occupancy (CO). Furthermore, hard money lending offers viable options for individuals with poor credit or those seeking to rebuild their credit, as a low FICO score does not necessarily disqualify applicants from obtaining a loan.

Moreover, hard money lenders provide a range of lending solutions beyond property acquisitions, including refinancing existing loans and accessing cash from property equity. This versatility makes them an attractive resource for investors looking to leverage their real estate assets.

It’s crucial to recognize that hard money lenders specialize in funding investment real estate projects and do not offer mortgages for residential purposes. Properties financed by hard money lenders are intended for investment purposes only and cannot be used as primary residences.

Due to the expedited nature of hard money loan processing, obtaining one is much quicker and simpler compared to securing a traditional bank mortgage. However, this convenience comes at a cost: hard money loans typically carry higher interest rates, usually ranging between 9 and 12%. Additionally, borrowers can expect to pay between 1 and 3 points at closing.

The term of a hard money loan is generally shorter, typically lasting 1 or 2 years. These loans are typically divided into two parts. The first part, often covering 65-80% of the purchase price, finances the property acquisition. The second part provides funding for any necessary property rehabilitation, with hard money lenders often funding up to 100% of the rehab costs. If no rehabilitation is necessary, it will not be included in the loan.

For properties requiring rehabilitation, funds are disbursed incrementally, typically after completion of each portion of the work. For instance, if a total of $50,000 is needed for rehab, the borrower may request $15,000 after completing the initial phase of work, with subsequent disbursements following a similar pattern. Hard money loans are usually structured to ensure that the total loan amount, covering both purchase and rehab funds, does not exceed 65% of the property’s after-repair-value (ARV).

Hard money lenders typically extend their financing to LLCs rather than individuals, as hard money loans are classified as commercial loans. However, creating an LLC is a straightforward process, and it’s nothing to stress about if you don’t have one already. An LLC can be easily formed, and it can even have just one member, which can be yourself.

Hard money lenders meticulously assess both the purchase price and the After-Repair Value (ARV) to protect their loan investments. Acquiring a property below or at market value plays a vital role in the loan approval process. Additionally, if the borrower intends to finance rehabilitation work, the lender ensures that repairs progress according to the predetermined schedule and are completed in a timely manner. A clear title is also crucial for hard money loan approval. Any existing judgments or liens on the property or the LLC taking out the loan (as loans must be made to an LLC) must be resolved before loan disbursement.

Hard money lenders prioritize the profitability of their borrowers’ investments or transactions. Their goal is for borrowers to earn returns from their real estate ventures to facilitate loan repayment. To achieve this, the lender verifies the presence of adequate “spread” in the deal. This entails ensuring that the After-Repair Value (ARV) covers not only the purchase price and renovation costs but also the loan interest, closing charges, and any other relevant fees, with sufficient margin for the investment to be profitable for their clients.

A hard money loan in Queens is most often used in the following scenarios:

  • Undertake the purchase and restoration of a property that traditional banks are unwilling to finance (either due to the property’s condition or the borrower’s creditworthiness), with the goal of selling it to a retail buyer. This approach is commonly recognized as “fix and flip loans.”
  • Procure and rehabilitate a property that does not meet traditional bank lending criteria, aiming to lease it out. Once the property achieves stability through rental income, it may qualify for refinancing with a conventional bank at a more competitive rate.
  • Hard money loans are frequently employed for time-sensitive real estate acquisitions, such as those at foreclosure auctions, where traditional banks may not be able to meet the timeline. While hard money lenders can often fund purchases within a week, banks may take 2 or 3 months or longer.
  • Secure swift cash-out refinancing by utilizing an owned property as collateral.
  • Expedite the refinancing process for another mortgage on a property nearing its maturity date.
  • Facilitate property acquisition under the umbrella of an LLC. Traditional banks typically refrain from funding LLCs, making hard money loans an attractive alternative for individuals seeking to own properties outside their personal names.

We Value our Broker Relationships

West Forest Capital is the fastest Hard Money Lender in New York

New York Hard Money Lender

We can fund hard money loans in 3–5 days

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

Submit a loan request

A New York direct lender you can rely on

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