We’ve Lowered Our Rates…A Lot

by Asset Based Lending | Oct 11, 2016 | 0 comments

Quick-Close, Reliable Hard Money Now Starts As Low As 9%.

Asset Based Lending has announced a significant reduction in annual interest rates for real estate investors. The new loan programs, effective immediately, allow qualified real estate investors to borrow short-term hard money loans with annual interest rates as low as 9% and with only 2-3 points.
As one of the region’s premier hard money lenders, this rate drop announcement further solidifies our mission to be the preferred lending partner to real estate investors up and down the East Coast.
[su_quote cite=”Kevin Rodman, Partner”]“We’ve always valued loan quality above all else, placing a higher importance on the profitability of the deal and the experience of the borrower than any other underwriting factor. This new rate structure allows us to continue making sound loans to great borrowers by providing the top-shelf service they need with the competitive rates the market demands. ABL remains committed to our quick response and excellent service.” [/su_quote]
[su_table]

Experience	Credit Score Minimum	Interest Rate	Points	Advance Rate On Purchase	Advance Rate On Rehab	ARV	Property Types	Pre-Pay Penalty	Loan Size	Loan Terms
Any	None	9%-12%	2-3	Up to 90%	100%	60%-65%	Single Family, Multi Family, Mixed Use	No	$75K – $2mm	12 Mo.

[/su_table]
The new rate matrix adjusts the annual interest rate range for all borrowers from 12%-14% to 9%-12%, and the range of origination points from 2-4 to 2-3.
In addition, Asset Based Lending has increased its maximum Loan-To-Cost for qualified fix and flip investors from 80% of the property purchase price and 100% of the renovation costs to 90% of the purchase price and 100% of the renovation costs. For new construction projects, Asset Based Lending has increased its maximum advance rate on land purchase to 60% of the land purchase cost and 100% of the construction.