Phone: 201-942-9089
Address: 66 Hudson Street Suite 301, Hoboken, NJ 07030
Email: info@abl1.net
Website: http://www.abl1.net/
States They Lend In: Connecticut, Florida, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia and D.C.
ABL is owned and operated by knowledgeable and experienced real estate lenders who want to help real estate investors succeed. We have designed our process to be fast, reliable, and flexible because we know these are the process features that our borrowers need. Read on to find out why so many real estate investors across 10 states have chosen ABL as their hard money lender.
Our short term loan programs support the following investment projects:
- Fix and Flip
- New Construction
- Cash Out – Refinance
Where do you lend?
Connecticut: ABL lends in Hartford, Fairfield, New Haven, Storrs, and Essex.
Florida: ABL lends in Broward, Dade, and Palm Beach.
Maryland: ABL lends in Anne Arundel, Baltimore, Baltimore City, Cecil, Charles, Harford, Howard, Montgomery, and Prince George.
Massachusetts: ABL lends in the greater Boston area; Suffolk, Norfolk, Essex, Middlesex, and Plymouth.
New Jersey: ABL lends in all counties in New Jersey.
New York: ABL lends in New York City (all boroughs), Nasssau, Orange, Rockland, Suffolk, and Westchester counties.
Pennsylvania: ABL lends in Berks, Bucks, Chester, Delaware, Lehigh, Montgomery, Northampton, and Philadelphia.
Virginia & D.C.: ABL lends in Arlington, Alexandria, Fairfax, Washington D.C.
Fix and Flip Hard Money Loans
For fix and flip investors, quick access to financing is incredibly important. ABL’s fix and flip loan program provides the funding that borrowers need to purchase and rehab a property, with the speed and flexibility you deserve.
Our expedited underwriting process and professional processing team boasts an average closing time of 10 days, with a record of just 48 hours. While all deals are unique, ABL with generally lend up to 80% of the purchase price and 100% of the rehab costs.
Credit Score: No minimum
Interest Rate: 11% - 13%
Points: 2% - 4%
Advance Rate on Purchase: 50% - 80%
Advance Rate on Rehab or New Construction: 100% of cost
Advance Rate on Current Value: N/A
Loan % to After Rehab Value: 60% - 65%
Property Types: Single Family, Multi Family, Mixed Use
Pre-Payment Penalty: No
Extension Available: Yes
Cross Collateral /Blanket Loans: Yes
Loan Size: $75K - $1.75M
Loan Terms: 12 Months
New Construction Loans
For experienced investors and contractors, ABL’s hard money loans for new construction offer quick access to leverage and underwriting flexibility not available from conventional financing.
While all deals are unique, ABL typically lends up to 50% of the land value and 100% of the construction costs. Plus, for construction escrows over $100k, the borrower only pays interest on funds as they’re drawn
Credit Score: No minimum
Interest Rate: 11% - 12%
Points: 2% - 4%
Advance Rate on Purchase: 50% (land value)
Advance Rate on Rehab or New Construction: 100% of cost
Advance Rate on Current Value: N/A
Loan % to After Rehab Value: 55% - 60%
Property Types: Single Family, Multi Family, Mixed Use
Pre-Payment Penalty: No
Extension Available: Yes
Cross Collateral /Blanket Loans: Yes
Loan Size: $250K - $1.75M
Loan Terms: 12 Months
Cash Out Refinance
Cash Out on or Refinance of 1-4 family residential or mixed use property
Credit Score: No minimum
Interest Rate: 11% - 13%
Points: 2% - 4%
Advance Rate on Purchase: N/A
Advance Rate on Rehab or New Construction: 100% of cost
Advance Rate on Current Value: Up to 45%
Loan % to After Rehab Value: N/A
Property Types: Single Family, Multi Family, Mixed Use
Pre-Payment Penalty: No
Extension Available: Yes
Cross Collateral /Blanket Loans: Yes
Loan Size: $75K - $1M
Loan Terms: 12 Months
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