New Construction Loans In Massachusetts

The Premier Lender For Construction Loans In Massachusetts

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

Flexible underwriting criteria allows investors in new construction 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%–10% and 1%–2% points. Loan amounts range from $100K to $2.5M.

New Construction Needed In Massachusetts

Massachusetts attracts home buyers from all over the country due to its high average income and proximity to cultural landmarks and major travel hubs. Currently, the housing inventory is unable to meet the continuously growing demand, and that lack of inventory is putting pressure on house prices to trend upward. According to Curbed Boston, single family home sales in the greater Boston area were up for the entirety of 2019, with pending sales in October up over 12% from the previous year. Meanwhile, median sale prices for homes in Plymouth County are up 15% in September 2020 compared to the previous year.

New construction projects take a lot of time and energy, but planning the right project with the right property can be a very lucrative business. An Essex county trend report showed that the average days on market for homes in August 2020 was nearly half the average of 2019, making it an excellent choice for new construction. ABL is ready to fund your next successful new construction project in the following Massachusetts counties: Suffolk, Norfolk, Essex, Middlesex, and Plymouth. Contact us today to be approved for your new construction loan.

Why Massachusetts Investors Choose Hard Money Loans For New Construction

With so many real estate loan options available, Massachusetts investors need to decide which loan aligns best with their new construction project. Many investors prefer the security and stability of borrowing from a bank, however banks tend to avoid new construction projects due to the high risk factor. Plus, their loans take a long time for approval, meaning the potential to miss out on a good deal. A more flexible option is to borrow from a private money lender, but private money loans lack the structure of a financial institution.

That’s why the majority of investors choose hard money lenders for new construction in Massachusetts. Hard money loans from a reputable lender come with the flexibility and relaxed criteria of private money combined with the trust and scalability of a financial institution. Asset Based Lending has been providing successful hard money loans for new construction projects for over a decade. We close deals as fast as 24 hours and provide the peace of mind that you’ll get your funding right when you need it, so your project never experiences financial delays. Contact us now to prequalify for the most reliable new construction loans MA has to offer.

Asset Based Lending Is Ready To Help

Asset Based Lending is committed to providing hard money new construction loans that fund your next success. Our fast closing times and dedication to our borrowers are why so many investors continue to choose ABL for their all lending needs. We always tailor loans to match your specific project, but each new construction loan offers:

If you’re looking to fund a hard money loan in Massachusetts, contact us today and experience why Asset Based Lending has the most reliable construction loans in the sate.