Construction loans in MD

New Construction Loans In Maryland

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The Top Choice For New Construction Loans In Maryland

Experienced real estate investors require reliable lenders with a history of success. Asset Based Lending has been funding new construction loans for over a decade, specializing in closing deals quickly with fast draw turnaround that never causes financial delays. As the premier hard money lender in Maryland, ABL provides our borrowers the highest quality service throughout the entire loan process, featuring flexible underwriting that’s tailored to match your specific project. We guarantee no early payment penalties, so you’re never punished for a successful new construction project.

We currently provide hard money loans for new construction in the following counties: Anne Arundel, Baltimore, Baltimore City, Cecil, Charles, Harford, Howard, Montgomery, and Prince George. If you’re ready to be approved for the most reliable new construction loans Maryland has to offer, then contact us today.

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Success Story: Baltimore, MD Fix And Flip

Baltimore MD fix and flip loan

Purchase: $79,000 Loan Amount: $127,000
Renovation: $65,000 Sale Price: $227,000

The Premier Lender For Maryland New Construction Loans

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%–10% 1%–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 9%–10% and 1%–2% points. Loan amounts range from $100K to $2.5M.

Close In 10 Days Or Less. Rates Start As Low As 9%.

Maryland Housing Market Heating Up

Maryland is starting to become one of the most reliable real estate investments in the country. The state features a mix of urban and suburban living options, along with an unemployment rate that’s lower than the national average and close proximity to major metro areas. This kind of variety and healthy economy attracts potential homeowners from all over the country, driving up average house prices with the increased demand in a low inventory market. New construction projects can help meet the rising demand with a lower barrier to entry cost and higher ROI compared to other nearby states.

For example, homes in Baltimore are staying on the market for an average of only 84 days and are set to have median sale prices rise by 4% in 2021. Meanwhile in Prince George county, the number of closed house sales in October 2019 were up 4.9% from the previous year and closings reached a six-month period where the seller’s averaged 100% of the initial asking price. Fast forward to August 2020 and Prince George county is seeing average median sale prices 13% higher than the previous year! Asset Based Lending provides the most reliable new construction loans in these areas and other Maryland counties. If you’re ready to be approved for a new construction loan then contact us today.

Hard Money Loans Vs Other Loan Options

Choosing the right loan is almost as important as choosing the right property for your new construction project. Some investors want to work with financial institutions to feel secure with the loan, but banks tend to avoid new construction projects due to the high-risk factor. They also use heavily restrictive criteria that makes the loan process tedious and could cause you to miss out on your opportunity. Other investors may choose a private money lender due to the relaxed criteria and quicker process, but private money loans lack the stability of a conventional loan.

That’s why most investors prefer hard money loans for new construction. Borrowing from a reputable hard money lender gives you the same loan security as working with a bank, with all the speed and flexibility of private money lenders. Asset Based Lending is the premier hard money lender in Maryland- fully dedicated to providing the fastest and most reliable hard money new construction loans in the area. If you’re an experienced investor that is seeking a hard money loan for new construction, contact us today and be approved as fast as 24 hours.

Choose Asset Based Lending For Your Maryland New Construction Loans

At this point, you’ve already decided on using hard money loans for your new construction project. Asset Based Lending has you covered for the most reliable new construction loans in the state, with the highest quality service from start to finish. Our flexible underwriting allows us to tailor loans specifically to match your project, but you can always count on us for the following:

  • Preapproval within 24 hours of initial prequalification
  • Closing within 10 days on average
  • Flexible loans sizes from $100K to $2.5M
  • No prepayment penalties
  • Funds delivered three days from draw date
  • Direct access to lender decision-maker

With over a decade of success and many repeat borrowers, ABL are proud to fund your next successful project and help you meet your financial goals. If you’re ready to be approved for one of our Maryland new construction loans then contact us today.

 

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