Maine Fix and Flip Loans
Fast & Reliable Fix And Flip Loans
Asset Based Lending specializes in fast and flexible financing for real estate investors. Fix and flip loans are our most popular product because of how quickly we can approve and close loans- approval as fast as 24 hours and an average loan closing of 10 business days. Our doc-light approach to these 12-month interest-only bridge loans allow us to work with fix and flip investors of all experience levels, whether you’re starting your first rehab project or are chaining together several deals a year. We focus on the asset and determine if the deal makes sense for both parties, lending on all types of flips such as the cosmetic rehab of a single-family in Bangor or a multifamily gut renovation in Portland.
ABL are experts in the local Maine markets, teaming up with the best appraisers, title agents, and attorneys in the area to deliver an easy loan process for our borrowers. We work closely with real estate investors to deliver on their exit strategy, using our flexible underwriting to craft a loan that works for their specific project- whether that’s a lower interest rate, maximum leverage, zero points, or something else. If you’re ready to be approved for the most reliable Maine fix and flip loans on the market, then contact us today.
|Experience||Credit Score Minimum||Interest Rate||Points||Advance Rate On Purchase||Advance Rate On Rehab||ARV||Property Types||Pre-Pay Penalty||Extensions||Blanket Loans||Loan Size||Loan Terms|
|Any||660||9.5%-15%||0-2%||Up to 85%||100%||Up to 70%||Single Family, Multi Family, Mixed Use||No||Available||Yes||$75K - $3.5M||12 Months|
Same Day Pre-Approval. Up To 90% Funding.
Planning Your Maine Fix And Flip
Maine has become a strong real estate market for investors over the last few years, and the local markets dictate a strong opportunity for fix and flips. As of January 2022, the average home sale price reached $339,000 which is up 12% year over year, and that’s on top the drastic growth from the previous few years. The state also saw large population growth over recent years, a nearly 2% bump to reach 1.34 million residents, which has helped drive up the local home sale prices. Currently, the most competitive real estate markets in the state include Portland, Bangor, Lewiston, Kennebunk, Cape Elizabeth, and Falmouth which are excellent opportunities for fix and flips Low housing inventory is a major reason why the markets are so competitive, but also why home flips can be very profitable in the state.
Since Maine real estate markets are highly competitive, fix and flip investors need fast and flexible financing to make sure they can secure lucrative deals as they emerge. Asset Based Lending approves and closes bridge loans as quickly as possible, this way our borrowers can acquire their property and start working on the rehab ASAP. If you’re ready to be approved for your ME fix and flip loan, then contact us today.
Using Hard Money for Your Maine Fix And Flip
Real estate investors are always looking for the best possible financing for their projects, shopping around interest rates and determining the closing times they need to make sure their fix and flip can be the most profitable. Sometimes, investors don’t understand hard money lending and try to seek funding through large financial institutions or requesting money from a private money lender. While these options could work for some investment opportunities, the best type of funding for a fix and flip loan is hard money. Traditional financial institutions like banks offer security and reliability with their financing but they can take upwards of three months to close rehab loans, as well as requiring tons of extra documentation from the borrower to determine their risk. Private lenders, such as friends and family or finding a trustworthy individual with capital, offer doc-light approaches and fast closings but don’t provide loan security or guarantees the same way a financial institution would.
Hard money lenders combine the best of both worlds- a direct access to capital with minimal documentation and fast closings, like a private money lender, with the reliability and security of a bank. Fix and flip investors should use hard money loans to fund the purchase and rehab of their project and then sell the home as fast as possible so they can pay off their loan and move on to their next project. Asset Based Lending prides itself on offering the most reliable fix and flip loans on the market, utilizing a full in-house team to originate, process, and close your bridge loan as quickly as you need it done. We understand the world of real estate investments and what our borrowers are looking for in their financing, so our team is prepared to deliver you the best fix and flip loan for your project every single time.
Why Investors Choose ABL For Fix And Flip Loans
ABL has over ten years of proven experience with seamless, reliable hard money loans. When other lenders drop the ball or string you along, you lose out on deals and money. As investors ourselves, we understand what our borrowers need to close deals quickly and how to ensure a smooth loan process from start to finish. With hundreds of five-star reviews and over half of our borrowers returning for repeat loans, Asset Based Lending is becoming known for the best fix and flip loans Maine has to offer.
If you need to close a deal quickly or simply need reliable financing to help you scale your fix and flip business, then ABL is the hard money lender that can help you reach the next level. Whether you’re a first-time investor starting a cosmetic rehab or a seasoned pro working on their tenth fix and flip deal, our team is ready to finance your next success. Contact us today and be approved by the most trusted hard money lender in Maine.