NJ new construction loans

New Construction Loans In NJ

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New Jersey’s experienced investors deserve the best hard money lender for construction.

Investing in new construction is a dynamic opportunity that requires a lot of experience and planning. It also calls for specialized funding that meets the demands of your project – on time, every time. From Bergen County down to Gloucester County, Asset Based Lending has provided construction loans for over a decade. We offer hard money construction loans for residential and mixed-use investment properties, working with you to create the smoothest funding process – from closing through draw management – so you can access your money right when you need it.

We understand how complicated these projects can be, so our team of experts work hard to make your new construction loan process fast and simple- approval as fast as 24 hours and funding in 10 days or less. Contact us today to match your next construction project with the most reliable and flexible construction loans.

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Success Story: Watchung, NJ New Construction

Purchase: $435,000 Loan Amount: $400,000
Construction: $300,000 Sale Price: $1,189,000

The Premier Lender For NJ 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 4.99%–10% 0–2% Up to 90% 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 4.99%–10% and 0–2% points. Loan amounts range from $100K to $2.5M.

Close In 10 Days Or Less. Rates Start As Low As 4.99%.

New construction needed in New Jersey

With the housing supply remaining low in a high demand market, this seller’s market is the perfect time for your next construction project. While some real estate investors prefer to fix and flip houses, new residential construction is the only way to increase the existing supply to match the growing demand, making it an excellent investment opportunity. According to Mashvisor, the median price for home sales in the area grew over 5% in June 2020 while supply continues to dwindle from 2019.

The desire for suburban living is reaching an all-time high, but people still want to live near major metropolitan areas and travel hubs. Asset Based Lending is dedicated to helping serious real estate investors meet this housing demand with accessible new construction loans. Borrowing from ABL means you’re borrowing from a reputable construction loan lender with flexible draw schedules and dedicated experts, letting you focus on the project at hand. If you have the right property and the right plan of action, our team is ready to show you why we have the most reliable construction loans.

Why use hard money loans for construction?

As a builder, you have several options for funding for your projects. Not all lenders and loan programs are equal, so it is important to find the best option for you. Hard money loans are a form of short-term funding designed to provide the money you need to quickly purchase the land, build the property, and sell the home or roll into a long-term loan.

Hard money lenders rely more on an evaluation of your project and real estate experience, instead of traditional underwriting criteria. This flexible criterion allows for faster approval and a smooth lending process that better fits the new construction business model. Investors and contractors should be able to prove that they have the appropriate experience for the deal and enough liquidity to carry out the project according to plan. This distinguishes new construction loans from conventional loans, for which you need to spend more time proving your personal creditworthiness.

When you apply for a hard money loan for new construction, the process is structured significantly differently. Although you still must establish a few parameters such as the value of the land and your ability to make a down payment, the rest of the approval process is much quicker. Many investors find hard money loans to be more efficient than other lending options, allowing them to catch a great deal in the nick of time. Asset Based Lending is proud to be one of the premier hard money lenders for new construction.

The new construction loans NJ investors trust

Experienced investors partner with Asset Based Lending — a lender that understands your project and provides you with the flexibility and reliability your business demands. Our loan officers and underwriters are experts in the local markets, so you can count on them to truly understand your deal scenario. Investors come back to us each time they need a new construction loan because of our ability to move quickly and efficiently. We can approve construction loans within 24 hours and close in 10 days or less.

In addition to our quick processing capabilities, our hard money loans for new construction feature the following benefits:

    • Loan sizes ranging from $100K to $2.5M
    • Competitive interest rates starting at 4.99%
    • 100% construction financing
    • Loan terms averaging 12-18 month terms
    • No prepayment penalty
    • Professional draw management

The right kind of loan may be the difference between a successful project and a stressful one. If you’re ready to move forward with your project or want to learn more about the best new construction loans, contact Asset Based Lending today.

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