New Construction Loans that Texas Investors Trust
Experienced investors and builders know how profitable new construction projects can be, but they need reliable capital to begin the work and keep it moving forward until the final touches are done. Asset Based Lending offers fast and reliable new construction loans for residential and mixed-use construction. These hard money construction loans range from $100K to $3.5M and are designed to close quickly so you never miss an opportunity. We use flexible underwriting to tailor your new construction loan to your specific project, allowing us to offer you maximum leverage, lower interest rates, zero points, or something else that fits your needs.
Our team specializes in approving loans as fast as 24 hours and closing deals as quickly as two days with the appropriate paperwork, averaging 10 days or less. Your loan is serviced fully in-house, so ABL guarantees you a five-star experience from your first call to your final payoff. With our professional draw management team, you’ll receive funds exactly when you need them and never experience a financial delay on your project. We value transparency and don’t include prepayment penalties or hidden fees, so you keep more of your money. Contact us today to be pre-approved for the best Texas new construction loan.
The Premier New Construction Loan Lender In Texas
|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||9.5%-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|
Close In 10 Days Or Less. Rates Start As Low As 4.99%.
Texas Inventory Needs Residential New Construction
With record-low housing inventory across the state and a major population boom, the demand for Texas new construction is higher than ever. There is currently almost 50,000 homes for sale throughout the entire state, which is nearly 33% less inventory than the previous year and a 5-year-low for the state. This kind of inventory gap can be filled by residential new construction, and due to the high demand, can be sold for larger profits than ever before. Homes are spending an average of 22 days on market which is 24 days less than the previous year and signals how quickly homes are selling in the state. This hot market can be taken advantage of by utilizing hard money new construction loans to begin quickly filling these inventory gaps.
Asset Based Lending always works to meet the market demand, providing more new construction loans in 2020 than any previous year and on track to surpass that in 2021. Our team of experts understands local real estate and good investments, using that knowledge to help experienced real estate investors grow their Texas construction business quickly. If you have been looking for your next successful construction project, finance your business with the best new construction loans Texas has to offer. Contact us today to be approved for your hard money new construction loan within 24 hours.
Why Investors Choose Hard Money Loans for New Construction
Texas construction loans vary greatly and choosing the right one can make a big difference in both funding speed and net profits. Many investors want to work with financial institutions like banks, however banks are very risk adverse when it comes to their lending which restricts their loans and disqualifies many borrowers. Other investors try to borrow from private money lenders due to less restrictions, but private money loans come with less security and reliability which adds extra layers of risk to the investment.
Hard money lenders like ABL provide the reliability and security of a financial institution with the speed and flexibility of a private money lender. These hard money loans take an investor’s entire history into account to assess risk level, including real estate investing experience, income, credit score, liquid assets, etc. With no prepayment penalty and a variety of loan types, our team provides the highest quality service for our borrowers. If you’re ready to be approved for your hard money loan for new construction, contact us today.
Using Asset Based Lending For New Construction Loans
When you choose to secure a new construction loan, it means you need a lender that you can trust from start to finish. Asset Based Lending has a wide range of loan criteria, flexible underwriting that fits your specific project, and professional draw management that funds your construction without any delays. With half of our borrowers being repeat borrowers and more than 150 verified 5-star reviews, it’s clear that ABL provides the best hard money loans for new construction.
We love working with experienced investors on residential and mixed-use construction projects and look forward to funding your new construction in Texas. Contact us today to be approved for the best TX new construction loans on the market.