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 85% 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 70% 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.
ABL Understands The NYC Boroughs
With over a decade of success in the tristate area, ABL have become experts in the local real estate markets with intimate knowledge of New York City and its unique boroughs. We tailor loans to match your specific project, whether its a multi-family rental property in Queens or a fix and flip in Brooklyn. The NYC market has been shaken up recently, so working with a lender that has deep ties to the city can help you take advantage of these new opportunities. If you’re looking to use our NYC hard money loans for investing in the boroughs, contact us today.