Springfield MA Hard Money Loans
Hard Money Lenders In Springfield, MA
If you’re looking for short-term bridge funding for your next investment project in the Springfield, Massachusetts area then Asset Based Lending is your best choice. Our 12-month, interest-only hard money loan programs are designed to meet real estate investor’s needs — including Fix and Flip, New Construction and Rental Loans.
Asset Based Lending offers a variety of loan options tailored to borrower needs, including zero-point loans with no exit fees or prepayment penalties. We lend to qualified applicants with varying levels of experience, from professionals with dozens of completed projects to new investors trying their first fix and flip. Our efficient loan process is tailored for non-owner-occupied properties that our clients intend to build or rehab.
Our dedicated loan officer for Massachusetts, Michael Chadwick, understands the dynamics of buying real estate in Springfield and can help you get the best deal for your project. We work with the best local appraisers, attorneys, and title agents to deliver a five-star experience for our borrowers.
Prequalify Today for Hard Money Mortgage Loans
To prequalify for a loan with Asset Based Lending, complete our convenient online form or call us. Your project may qualify for pre-approval in as little as 24 hours. Discover the benefits of working with Asset Based Lending for your next project and learn more about our loan programs:
Investor’s #1 Choice For Springfield Hard Money Loans
Fix and Flip Loans
There is always a market in Springfield for an experienced professional who knows just how to flip a house. The skill it takes to identify a property with great potential and a reasonable price can determine who can turn an ideal profit from fix and flips. At Asset Based Lending, we specialize in 12-month fix and flip lending. While we typically accept applications from investors with at least a few successful projects completed, we will also consider new investors.
For a fix and flip project to start without a hitch, investors need efficient financing. Private lenders for flipping houses are often far preferable to traditional mortgages by virtue of the speed to closing. Traditional loans can take months. At Asset Based Lending, we average loan closing in 10 days from start to finish, and as little as three days for clients with all the paperwork ready at the beginning. In exchange, investors can finance up to 85% of the property purchase and 100% of the renovation expenses. Head to our Fix and Flip financing page to learn more about the requirements for these loans.
New Construction Loans
New construction is high in demand, with housing needs far outpacing production in Springfield. Hard money loans make the ideal funding for these projects, with fast and flexible underwriting and funds just in time to meet each stage of the building process. Our new construction loans target experienced builders, contractors and investors. We provide up to 70% financing on the land and as much as 100% of development costs.
Our convenient and customizable underwriting requirements allow us to lend to qualified candidates, who often find that traditional financing is not viable. We focus on the experience of the borrower and the details of the project. Our knowledge of new construction allows us to quickly evaluate a project on its merits. Visit our New Construction page for more information about these loans.
Asset Based Lending offers fast and efficient financing for buy and hold investors. Our rental loans are designed for 1-4 family rental properties with single rental loan caps of $3M and rental portfolio loan caps of $6.25M. With rates starting as low as 6.75% and leverage as high as 80% LTV, these hard money rental loans are the most borrower-friendly on the market.
ABL offers a variety of loan options for rental property, including 30-year amortizing, ARM, or interest-only options. There is no experience requirement for these loans, as we assess the deal based on the income-producing viability of the property. Many BRRRR investors use this financing for their investment strategy of buy, rehab, rent, refinance, and repeat. If you’re looking for Springfield rental loans, then contact us today.