Fast Fix And Flip Financing
It takes talent to be able to spot a problem property and envision how to transform it into a beautiful, sale-ready home. It also takes money to acquire the property and do the rehab work. Home fix and flip loans are the link to profitability and leverage in this scenario, and these real estate investor loans have always been a primary focus for ABL. As hard money lenders in Massachusetts, 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, and 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 90 percent 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 can dictate a need for quick and flexible underwriting for new construction as well. ABL provides new construction loans 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 60 percent of the land value and 100 percent of the construction costs.
While our underwriting criteria for 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 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.