Construction Loans In PA
Experienced Builders Trust ABL For Pennsylvania New Construction Loans.
New construction projects require careful planning and expertise. Experienced real estate investors know how lucrative it can be, but they need reliable hard money lenders for new construction in Pennsylvania that can close deals fast and provide funding right when they need it. Asset Based Lending has over a decade of successful new construction loans, helping builders grow their business portfolio quickly. Backed by our team of experts and in-house servicing team, your project will never experience funding delays. With loan approval occurring as fast as 24 hours and the initial funding in 10 days or less, we’re here to help you get started on your next successful Pennsylvania new construction project.
We know local real estate, and we specialize in hard money loans for new construction. Our flexible underwriting lets us tailor a loan that best fits your project and your financial goals. If you’re ready to expand your real estate business quickly and efficiently, contact Asset Based Lending today.
Success Story: Abington, PA Fix and Flip
| Purchase: | $165,000 | Loan Amount: | $212,000 |
| Renovation: | $90,000 | Sale Price: | $350000 |
| 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 | 9.99%-15% | 0-2% | Up to 70% Land Value | 100% | Up to 67.5% | Single Family, Multi Family, Mixed Use | No | Available | Yes | $100K to $3.5M | 12 Months |
Closing Speed
Underwriting Flexibility
Competitive Rates
Pennsylvania Needs New Construction
With housing inventory at a record low and demand reaching an all time high, there is a need for new construction. This seller’s market is the perfect time for experienced real estate investors to expand their business and thrive by finding a construction loan lender. According to Bright MLS, the April 2020 supply of homes for sale in the Philadelphia area was down 18% from the previous year, but the rising demand increased median sale price by $32,000! Being able to enter the PA new construction market quickly will prove beneficial for any serious real estate investor.
Asset Based Lending can tailor a new construction loan to fit your specific project, with a flexible draw schedule that funds your project when you need it and team of experts ready to help all along the way. Contact us today to be approved in as fast as 24 hours.
Hard Money Loans Vs. Other Loans For PA New Construction
Construction loan lenders come with different benefits and finding the right one can help you maximize profit in the shortest amount of time. While some investors prefer working with traditional financial institutions like banks, most banks avoid new construction projects due to their complicated nature, or place overly stringent underwriting guidelines on these projects. Other investors prefer private money lenders, but this method is unreliable as private money lenders typically aren’t as reliable if problems arise.
Hard money loans provide a speed and flexibility that make them ideal for new construction projects, with the security and reliability of a financial institution. Asset Based Lending continues to be the best hard money lender in Pennsylvania, backed by real estate loan experts that work as hard as you do. If you want to grow your real estate business quickly and efficiently with hard money construction loans for builders, contact us today.
The Most Reliable Private Money New Construction Loans
When you want to secure a new construction loan, you need a lender that’s flexible and reliable throughout the entire process. With a wide range of loan criteria and a professional draw management team that provides funds without delay, our team can customize a loan that makes sure your project starts and finishes without a hitch. Our team of experts are always available to advise you and help make sure funding is never your concern, so you can focus on your current construction or start planning for your next project.
We’re dedicated to funding successful new construction projects in Pennsylvania. Find out why so many borrowers believe Asset Based Lending has the most reliable new construction loans for builders. Contact us today for fast approval on your hard money loan for new construction.
Close In 10 Days Or Less. Rates Start As Low As 4.99%.
