Colorado New Construction Loans
Construction Loans For Colorado Builders
Record low housing inventory across The Centennial State means residential new construction is in high demand, which is a boon for experienced builders & developers that can access reliable capital to fund their projects. Asset Based Lending provides the most trusted new construction loans for real estate investors, offering hard money construction loans ranging from $100K to $3.5M for residential and mixed-use properties throughout Colorado. We specialize in closing deals quickly, with loan approval as fast as 24 hours and average deal closing in 10 days or less.
ABL offers these hard money loans for new construction to experienced investors including active builders, developers, or investors that are partnering with trusted general contractors. These new construction loans are tailored to match your specific investment project, ensuring you receive the best terms for your exit strategy with options such as maximum leverage, lower interest rates, zero points, or something else. We utilize a fully in-house professional draw team that manages your draw turnaround so your project never experiences a financial delay. Check out over 400 five-star reviews that our borrowers have given us, and contact us today to be approved for your Colorado new construction loan.
| Experience | Credit Score Minimum | Interest Rate | Points | Advance Rate On Purchase | Advance Rate On Construction | ARV | Property Types | Pre-Pay Penalty | Extensions | Blanket Loans | Loan Size | Loan Terms |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High | 660 | 9.5%-15% | 0-2% | Up to 70% Land Value | 100% | Up to 67.5% | Single Family, Multi Family, Mixed Use | No | Available | Yes | $100K to $3.5M | 12 Months |
Closing Speed
Underwriting Flexibility
Competitive Rates
New construction investments for experienced contractors and investors are funded at interest rates as low as 9.99% and 0–2% points. Loan amounts range from $100K to $3.5M.
Close In 10 Days Or Less. Rates Start As Low As 9.99%.
Colorado Needs Residential New Construction
The country is experiencing record low housing inventory, and Colorado is no different. Currently, there’s only a one month supply of housing available in Colorado. To put it in perspective, a healthy real estate market typically has a minimum three month supply of available housing inventory. With demand continuing to rise, prices are rising with it, leading to the average home sale price in Colorado reaching $592,900. This is where new construction investors have a major advantage over fix and flip investors, as ground up construction is the only way to introduce new inventory to the market. Investors can utilize hard money new construction loans to finance these construction projects and reap the rewards of this hot seller’s market.
Asset Based Lending is constantly working to meet borrower demand, providing more new construction loans in 2021 than any previous year. We’re now expanding these construction loans to Colorado and beyond, allowing investors to take advantage of our fast and flexible financing to introduce new residential inventory while making an exceptional profit. Our team are experts in local Colorado real estate and assess each deal based on the investor experience and property viability Contact us today to be approved for your hard money new construction loan within 24 hours.
Choosing Hard Money Loans For New Construction
Its important for real estate investors to weigh their different financing options before moving forward on a project, finding a lender and loan that works best for their exit strategy. When it comes to closing deals quickly and letting investors be more flexible with their loan options, the best choice for new construction tends to be hard money loans. Real estate investors are usually looking for fast closings and the ability to keep more of their profits, which is hard to get from banks or private money lenders. For example, a bank can take months to close on a new construction loan, in part due to how much financial documentation they require from the borrower, including proof of income. An investor could choose to work with a private lender to avoid the heavy documentation and long timeframe, but there’s less security and stability when working with a private money lender compared to a bank.
A hard money loan from Asset Based Lending combines the strengths of a bank with a private lender while avoiding their pitfalls. For example, as a hard money lender we’ve closed deals as quickly as two days with the appropriate paperwork, which is a level of speed that has saved countless deals from falling through for our borrowers. Hard money lenders also require less documentation and paperwork, making it a smoother and more streamlined process compared to applying for a loan with a traditional financial institution. ABL also acts as a private money lender by being in full control of our capital and decision making, allowing us to work with more investors and fund more projects. With no prepayment penalty and a variety of loan types, our team provides the highest quality service for our borrowers. If you’re ready to be approved for your hard money new construction loan, contact us today.
Why Investors Choose Asset Based Lending For Colorado Construction Loans
When you’re ready to apply for a new construction loan, it means you’re ready to partner with a reliable lender that’s going to take care of your loan from start to finish. Asset Based Lending is here to help, offering fast and flexible financing that’s designed to help builders & developers scale their real estate business effectively. Our professional draw management team reimburses your construction costs without any delays, keeping your project running smoothly until the final sale date.
ABL loves to partner with experienced investors on residential and mixed-use construction projects. Whether you’re looking to build a single-family home or develop a multifamily condo, we’re ready to discuss your project and fund your next success. If you’re a builder or developer looking to expand their business, then contact us today to be approved for the best CO new construction loans on the market.
