Washington DC New Construction On The Rise
Washington D.C. has remained a top real estate market in the country for a while now but has seen a big jump in recent years due to low unemployment and booming economy. Business Insider ranked the city as the best economy in the country for 2019. As the 6th most populated metro area in the nation with the second highest median income, housing is always in demand, but low inventory has been driving median house prices up. According to ATTOM Data at the end of 2019, the city was seeing seller’s make 21% gains on house sales, with data pointing to an even larger increase in 2020.
The only guaranteed solution to low inventory is new construction, and Asset Based Lending is here to help. With over a decade of successful new construction loans, we fund experienced real estate investors by tailoring loans to match their specific project. Our fast closing times and flexible underwriting lets us help a wider variety of projects, so contact us today to prequalify for our Washington DC new construction loans.
Choosing A Hard Money Lender For New Construction In Washington DC
Experienced real estate investors know that the right loan can make all the difference between a financial success and missing out on a deal. Some investors prefer to work with banks, but conventional mortgage loans tend to take a very long time and typically avoid new construction projects due to the high risk involved. Other investors may want to work with a private money lender, but private money loans lack the security and stability of a financial institution along with the lack of reliable funding. That’s why most investors prefer hard money loans for new construction- combining the speed and flexibility of private money lenders and the safety and security of a financial institution.
Asset Based Lending is the premier hard money lender for new construction in the northeast. We offer competitive loan programs with the fastest deal closings available, allowing you to secure lucrative deals in a highly competitive market. Our flexible underwriting tailors loans specifically to your project and your investment goals, making us the most investor-friendly loans in the area. If you’re a serious real estate investor looking to begin your new construction project in Washington DC, contact us today.