Fast Fix And Flip Financing
It takes talent to be able to spot a problem property and envision how to transform it into a beautiful, sale-ready home – and it takes money to acquire the property and do the rehab work. Property fix and flip loans are the link to profitability in this scenario, and these real estate investor loans have always been a primary focus for ABL. We primarily provide 12-month loans to experienced investors and professionals, but we do lend to qualified first-time borrowers as well.
Speed is critical to capitalizing on incredible investment opportunities, 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 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 a 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 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.
Philadelphia Real Estate Growing Fast
With over ten years of success in the northeast, ABL have become experts in the local real estate markets of Pennsylvania. Our team closely follows market trends to better serve our borrowers and ensure we deliver five-star service every time. Recently, Philadelphia has seen a boost to its real estate market which signals opportunities for savvy investors. As of January 2021, the average home prices have increased by 13% from the previous year and homes are remaining on market for 15% less time, highlighting the active market that is favoring the seller. The city’s market is becoming more competitive, so working with a lender that already partners with the best local appraisers and title agents can give you a strong advantage. If you’re a real estate investor that wants to use our hard money loans to invest in Philadelphia, contact us today.