Fast Fix And Flip Financing
Asset Based Lending provides investors that have the ability to spot a problem property and envision how to transform it into a beautiful, sale-ready home with the capital 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 the primary focus for ABL. We focus on 12-month loans to experienced investors and professionals, but we do lend to qualified first-time borrowers as well.
To truly capitalize on investment opportunities, speed is critical 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 just 10 days for our loans — which cover up to 90 percent of the purchase price and 100 percent of the rehab costs. Click here for more details about rates and requirements for home fix and flip loans.
Seasonal and market conditions can dictate the need for quick and flexible loan programs 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 commit to a loan if our experience doesn’t convince us that everyone involved in the deal will profit.