Washington DC Construction Loans
The Premier Lender For New Construction In DC
Asset Based Lending has listened to our borrower’s requests and brought our new construction loans to Washington DC. With over a decade of successful, ABL provides the fastest and most reliable new construction loans in the industry. Our flexible underwriting tailors loans specifically to your project, offering you competitive rates and fast closings so you never miss a good deal.
ABL are experts in local real estate loans, offering the highest quality service and advice throughout your loan process. We refuse charge a prepayment penalty, so investors are never punished for a successful new construction project. If you’re ready to be approved for new construction loans in Washington DC, contact us today.
|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|
Close In 10 Days Or Less. Rates Start As Low As 4.99%.
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.