New Construction Loans In Florida
Fast & Reliable New Construction Loans in Florida
Asset Based Lending has over a decade of experience providing Florida new construction loans to experienced real estate investors. We work with knowledgeable borrowers looking to expand their business and their bank accounts through successful new construction projects. Our team specializes in fast loan approval and funding, with approval as fast as 24 hours and initial project funding in 10 days or less. With flexible underwriting that takes your property, location, and construction experience into account, we tailor a loan that fits your project perfectly.
ABL understands local real estate and knows what goes into profitable new construction projects. If you’re ready to apply for one of the most reliable private money new construction loans around, contact us today.
| Purchase: | $790,000 | Loan Amount: | $1,000,000 |
| Renovation: | $400,000 | Sale Price: | $1,600,000 |
| 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 | 9.99%-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
Flexible underwriting criteria allows fix and flip investors to secure funding not available to them through other institutions.
Competitive Rates
New construction investments for experienced contractors and investors are funded at interest rates of 9.99%–15% and 0–2% points. Loan amounts range from $100K to $3.5M.
Close In 10 Days Or Less. Rates Start As Low As 4.99%.
Florida Real Estate Needs New Construction
Low housing inventory in the area has driven up demand, and more importantly driven up housing prices, making the state a great choice for new construction projects. CNBC reported a 6% increase in the average price for home sales in Florida for 2019, as well as an unemployment rate lower than the national average, which is essential for a thriving new construction market. According to Mashvisor, cities like Orlando and Tampa are top choices for new construction due to their growing metro areas and affordable housing prices compared to other major cities in the country.
Asset Based Lending are experts in the local real estate market, providing Florida new construction loans to experienced investors that know how to execute a successful project. Our flexible underwriting tailors the loan to your specific plan, allowing us to approve and fund your project quickly and efficiently. If you want to start your next successful construction project in the sunshine state, then apply today for our new construction loan.
Why Investors Prefer Hard Money Loans for New Construction in Florida
With so many different types of real estate loans available, its important to highlight why some loans are a better fit for new construction projects than others. For example, conventional loans through banks tend to be a poor fit for new construction projects because banks avoid loans with high risk factors. Plus, bank loans involve an arduous process that delay your start day. Another option is going with a private money loan, but private money lenders don’t have the same stability as banks. Hard money loans though a reputable lender offer the flexibility of private money with the funding security of a financial institution, making it the best choice for new construction loans.
Asset Based Lending is the premier Florida hard money lender, providing reliable hard money loans for new construction. Half of our loans go to repeat borrowers thanks to the high-quality service and fast draw turnaround we provide. We want to help you expand your real estate business, so contact us today for your hard money construction loan.
Choosing ABL for New Construction Loans in Florida
New construction projects require lots of planning and strategic execution, so you need a hard money lender that understands the process from start to finish. Asset Based Lending have been providing the best new construction loans in Florida for over a decade and specialize in the local real estate market. We tailor our loans to match your project, providing competitive construction loan rates in Florida and expert advice to every qualified investor. With approval occurring as fast as 24 hours and funding in 10 days or less, we make sure your new construction project starts quickly and progresses without delay. ABL doesn’t charge early payment penalties either, meaning you aren’t punished for completing a successful project and moving on to the next!
Contact us today to find out why Asset Based Lending provides the hard money loan borrowers trust for new construction.
