hard money construction loans in Connecticut

Connecticut New Construction Loans

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The Most Reliable New Construction Loans In Connecticut

Experienced real estate investors understand that successful new construction projects require a fast and reliable lender. Asset Based Lending has been providing new construction loans for over a decade, specializing in approving loans as fast as 24 hours and initial funding occurring in 10 days or less. Our streamlined loan process makes sure you never experience financial delays, with draw turnaround of three days or less. ABL offers the most flexible underwriting in the state, which lets us offer competitive rates and a new construction loan tailored specifically to your project and experience level.

We currently offer loans in the following areas: Hartford, Fairfield, New Haven, Storrs, and Essex with exceptions made for experienced investors. Our concentrated effort in this area have made us experts in these regions, allowing us to better advise our borrowers. If you want to experience real estate investors’ favorite new construction loans, contact us today.

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Success Story: Fairfield, CT New Construction

Purchase: $387,500 Loan Amount: $647,000
Construction: $450,000 Sale Price: $1,100,000

The Premier Lender For Construction Loans In Connecticut

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 4.99%–10% 0–2% Up to 70% Land Value 100% Up to 75% Single Family, Multi Family, Mixed Use No Available Yes $100K to $2.5M 12 Months

 

Closing Speed Closing Speed
A delay in securing funding could mean missing out on an incredible investment opportunity. We’ve closed loans in 48 hours, and average just 10 days.

 
Underwriting Flexibility Underwriting Flexibility
Flexible underwriting criteria allows investors in new construction to secure funding not available to them through other institutions.

 
Competitive Rates Competitive Rates
New construction investments for experienced contractors and investors are funded at interest rates of 4.99%–10% and 0–2% points. Loan amounts range from $100K to $2.5M.

Close In 10 Days Or Less. Rates Start As Low As 4.99%.

Connecticut In Need Of New Construction

Connecticut attracts home buyers from all around the country, given its proximity to major metro areas along with the state’s high average income and low unemployment rate. Housing inventory is currently too low to meet demand, paving the way for new construction projects to be a lucrative real estate investment. The state offers many living options- urban, suburban, and rural areas that all offer good deals with the right planning. For example, towns like Windsor Locks of Hartford County experienced median home sale prices rising 17.5% from 2016 to 2019 and continue to rise. According to Attom Data, the state’s property values are set to rise 3.7% by 2021, making investing in new residential construction a safe bet for the state.

When it comes to a highly competitive real estate market, you need a lender that works quickly so you never miss an opportunity. Asset Based Lending closes deals as fast as 24 hours and guarantees your funding right when you need it, making your loan process as smooth as possible. With competitive rates and no early payment penalties, we’re a lender that wants you to succeed and reach your financial goals. Contact us today to be approved for the most reliable new construction loans CT has to offer.

Choosing Hard Money Construction Loans

Real estate investors have several loan options available when starting a new project, but choosing the right one for a new construction project can save you time and stress. For starters, most banks don’t like to invest in new construction projects with individual borrowers due to the high risk factor, leading to long closing times and a tedious funding process. Plus, some borrowers don’t like the strict underwriting criteria that banks come with. Another option are private money loans, but the issue with private money lenders is the lack of structured funding that could delay your project longer than you’re willing.

The most investor-friendly option would be hard money loans. Borrowing from a hard money lender combines the reliability of a financial institution with the flexibility of a private money lender. Asset Based Lending is the top Connecticut hard money lender due to our fast closing, competitive programs, and flexible underwriting. We take care of our borrowers throughout the entire loan process so they never have to worry about the funding side of the project. If you’re looking for the best hard money loan Connecticut has, then contact us today.

ABL Is Ready To Fund Your New Construction Project

If you’re ready to choose hard money loans for new construction, then look no further. Asset Based Lending understands how much planning and time goes into a successful new construction project, and we’re here to make it simple. We approval your deal as fast as 24 hours and begin funding your project in 10 days or less- letting you start your new construction project as quickly as possible. Our flexible underwriting provides you with competitive rates and a dedicated draw team to keep your project funded right when you need it.

ABL offers no early payment penalty- you should be rewarded for a successful new construction project, not punished. We believe applying for hard money construction loans should be the easy part, so contact us today and find out why Asset Based Lending provides the most reliable new construction loans around.

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