Fast Fix And Flip Financing
Having the vision to identify a problem property and transform it into a beautiful, sale-ready home takes an incredible amount of skill. It also takes capital to purchase the property and do the rehab work. Asset Based Lending’s home fix and flip loans are the link to profitability and leverage in this scenario, and these real estate investor loans have always been the primary focus for ABL. Not only do we provide 12-month hard money loans in NJ to experienced investors and professionals, but we also lend to qualified first-time borrowers as well.
Speed is critical to capitalizing on New Jersey investment opportunities, and ABL provides financing solutions that traditional 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 just 10 days for our loans — which cover up to 90 percent of the purchase price and 100 percent of the rehab costs for a property. For more information such as rates and requirements, check out our additional details on fix and flip loans.
Quick and flexible underwriting for new construction is often an essential component of profitability in various seasonal as well as market conditions. ABL provides new construction loans in New Jersey 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 is flexible, with no minimum credit score requirements, borrowers can be sure of our faith in them because we won’t issue 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.