Ohio New Construction Loans
OH New Construction Loans
Asset Based Lending works with experienced builders and developers to finance their new construction investments. Investors use these 12-month interest-only bridge loans to cover the financial hurdles that can prohibit certain deals from going through. As a hard money lender with full control of our capital, ABL has the ability to close deals quickly so investors can take advantage of every opportunity. We approve loans as fast as 24 hours and close loans in 10 days on average, making us one of the fastest and most reliable financing options for new construction loans.
Rates for our new construction loans start as low as 9.99% and we provide loan amount ranging from $100K to $3.5M. We never charge prepayment penalties and offer a transparent loan process from start to finish, so you don’t have to worry about hidden fees. With more than half of our borrowers returning for repeat business and hundreds of verified five-star reviews, its clear that Asset Based Lending has the best loans for OH new construction.
New Construction Loans in Ohio
|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|
Same Day Pre-Approval. Rates Starting At 9.99%.
Ohio In Need Of New Construction Projects
Currently, the Buckeye State has a two-month supply of available homes. For context, a real estate market is deemed healthy if it has a minimum three-month supply of available homes. This inventory gap combined with rising demand for home ownership means Ohio builders and developers can take advantage of the market conditions. By using hard money loans to secure a project and start construction quickly, investors can chain together several deals and profit from the high demand for homes. Having a reliable lending partner is key in these competitive markets, which is why investors love working with Asset Based Lending.
Even though new construction investors have an edge over fix and flip investors with the inventory issues, there’s different problems with come with new builds. With lumber prices constantly rising due to supply chain issues, its more important than ever to use effective financing to fund the construction of these new homes and to maximize your potential profits. Asset Based Lending provides hard money loans for new construction that builders and developers can use to reliably fund their next investment. If you’re ready to be approved for the best Ohio new construction loans on the market, then contact us today.
Financing Your Ohio New Construction Project
As real estate investing becomes more popular and new construction continues to rise, more investors are looking for additional capital and finding out its not as easy as it sounds. Many people first turn to banks, but banks are very risk-averse and tend to avoid new construction loans by having extremely restrictive criteria or flat out denying the loans. This has investors looking at private money lenders due to their relaxed criteria and more flexible loans, but private money loans don’t offer the same reliability and security of a financial institution which can cause major problems during construction.
Luckily, hard money lenders are somewhere in the middle and the hard money loans they offer are perfect for new construction projects. A hard money loan combines the security and reliability of a conventional bank loan with the speed and flexibility of a private money loan, allowing borrowers to rest assured that their funding will be guaranteed and delivered on time. Knowing you can trust the financing and that the loan will be tailored to match your specific project means you can focus on the important work- like finishing that gorgeous suburban home that you plan to sell for a profit!
Investors Trust ABL New Construction Loans
When it comes to fast and reliable funding, OH real estate investors know to trust Asset Based Lending. Our track record speaks for itself, with more than half of our borrowers returning for repeat business and over $1 Billion in loan origination since our company’s inception. We have fully in-house teams for the entire loan process, providing you a five-star service from start to finish. ABL approves loans as fast as 24 hours and closes loans a quickly as two days with the appropriate paperwork. This doc-light approach to new construction financing lets real estate investors scale their business faster than ever and with zero headaches.
With the Ohio real estate markets continuing to thrive and low housing inventory plaguing the most popular markets, now is the perfect time for builders and developers to take advantage of outside financing. By using hard money capital to fund their projects, they can move quickly and use the current market conditions in their favor. Asset Based Lending insists on a transparent lending process with no prepayment penalties or hidden fees, so you keep more of your money. Contact us today to be approved for your OH new construction loan.