Our land development loans are typically secured by the land and/or other collateral the developer may have in possession.
Use for acquisition , development of already owned land as collateral to fund other projects.
End use may vary and the owner may haver various exit strategies.
land used may include improvements, funds for roads, sewers, and many others that would be needed to make the land ready for improvements and construction.
Examples of land development loans and horizontal improvements may include
Acquisition and development
Typical loan to value or loan to cost:
50% LTV on land is common with our private funding, Although 60 70% is doable under the right circumstances.
The better and stronger the exit , the higher likelyhood of higher LTV.
Consider various exits (residential , senior living, apartments, medical...) the more the better.
Send us your summary , complete with borrower background, land details and exit strategy from what will probably be a 3 loan maximum (many are 12 months)
Purchase portfolios, unfinished projects, distressed assets and more with private and institutional bridge money..
Land financing with private funds. Small loans in Texas and 500k greater in top 25 type markets.
Small Commercial Bank Loans
I. APPLYING FOR THE HARD MONEY LOAN : the process
*******PLEASE UPLOAD ALL PDF FILES ON (WWW.UPLOADMYLOAN.COM) CLICK - This is a page within this website
1. loan application -(use std. 1003 or personal financial statement with detailed REO Schedule)
3. purchase contract (executed) if purchase (if refinance, must know history -original purchase price and date)
Underwriter will review property and borrower and issue approval. (SEE MORE...CLICK)
II. SUPPORTING DOCS:
you have an executive summary clearly stating a loan request, use of funds and exit strategy.