Fast Fix And Flip Financing
Turning a problem property and transforming it into a beautiful, sale-ready home takes skill. It also takes money to acquire the property and do the remodel work. Home fix and flip loans are the key to profitability and leverage in this scenario, and these real estate investor loans have always been a primary focus for ABL as residential hard money lenders in Maryland. We primarily provide 12-month loans to experienced investors and professionals, but we do lend to qualified first-time borrowers as well.
Speed is critical to capitalizing on incredible investment opportunities. As private money lenders in Maryland, ABL provides financing solutions that typical lending institutions cannot. We can close in three to four days if all of the paperwork is in order, and the average closing time is 10 days for our loans — which cover up to 85% of the purchase price and 100 percent of the rehab costs. Click on the Fix and Flip link above for more details about rates and requirements for home fix and flip loans.
Seasonal and market conditions in Maryland can dictate a need for quick and flexible underwriting for new construction as well. ABL provides new construction loans in Baltimore and surrounding counties when conventional financing is not the right answer. New construction loans are available only to experienced investors, contractors, and builders, who typically can borrow up to 70% of the land value and 100 percent of the construction costs.
Asset Based Lending’s new construction loans are flexible, with no minimum credit score requirements, borrowers can be sure of our faith in them because we won’t fund a hard money loan if our experience doesn’t convince us that everyone involved in the deal will profit. Click on the New Construction link above for more details about rates and requirements for these 12-month loans.