10 deals in the last 2 years are required to qualify for 9%.
Found an investment property and interested in applying for a loan?
The East Coast’s Best Hard Money Lender
When it comes to investment opportunities, especially fix and flip properties, Asset Based Lending knows how important it is to expedite the financing needed for your project. At ABL, we offer hard money loans for fix and flip properties and new construction projects that are tailored to fit your needs. Unlike the grueling process of bank mortgages which can take upwards of thirty days, ABL can approve your hard money loan and provide you with funds in a matter of days. With a record closing in as little as 24 hours, and an average closing time of just 7-10 days, ABL is here to quickly assist you every step of the way.
Asset Based Hard Money Lending
Given that our loans are based on the value of an investment property rather than the borrower’s credit, we can fund deals for borrowers who are unable to get conventional financing due to a recent foreclosure or short sale. Even with tarnished credit, a borrower can obtain a hard money loan using the value of the investment property as collateral. This makes a hard money loan a great option for anyone from beginner investors with a limited credit history to experienced investors looking to free up liquidity and scale their business.
ABL funds hard money loans on single family, multi-family, and mixed-use fix and flip investment properties. Our lending programs don’t stop there; if you’re looking for a loan on new construction, we can provide quick financing for both the and acquisition and construction of a new residential property or tear down project.
The interest rates on an asset based hard money loan are usually higher than those of conventional mortgages. Interest rates for hard money loans range anywhere from 9%-15%, and ABL’s competitive loan programs offer qualified investors some of the best rates in the industry. Hard money lenders typically charge higher interest rates due to the greater risk associated with these loans, and the incredible speed in which they are able to process and fund transactions. Hard money loans are a very strong tool for investors who need to move quickly. These short term (usually 12 months) loans are the perfect opportunity to aid any investor in developing their success.