LAND DEVELOPMENT LOANS
Helping experienced land developers close on more projects and plan for our future. Our land development loan program is suited for experienced developers with a proven track record to help their capital go further. We are providing a solution for today'sunique markets. Below are some highlights of our Land Development loan program:
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We only offer purchase loans for this loan program.
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We offer loan amounts for this program as little as $100,000 up to $1,000,000.
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We lend in the following states with our No-Credit loan program:
- Florida
- Georgia
- Alabama
- Louisiana
- Mississippi
- Texas
- Arkansas
- Tennessee
- Kentucky
- North Carolina
- South Carolina -
We offer loan terms as little as 6 months up to 18 months, with a rate discount for loan terms less than 12 months, and rate penalty for loans longer than 12 months. 6 month extensions are available, not to exceed 24 months total, depending on the investors performance during the original term.
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We only lend to entities. So the borrower must be an LLC or Corporation, owned by the real estate investor. Multi-member entities are approved, and we do not require a credit check by any of the members or entity owners.
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We do require the developer has 3x completed developments in the past 5 years.
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This loan program is only for raw, undeveloped land.
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Our rates are pretty stable, and range from 18% up to 24% annual dependent upon various factors; investor proven experience, downpayment, and term of the loan. This is an interest only loan with monthly payments expected.
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We consider two primary metrics in this case; Purchase Price Loan to Value “PPLTV” / As-Is Loan to Value “LTV” and Loan to After Development Value “LTADV”. Our Max PPLTV/ LTV is 60% and our Max LTARV is 50%. These metric will adjust based on investors proven experience, downpayment, and term of the loan.
To find out more about our Land Development loan program, download our guidelines sheet below. We look forward to funding your next project soon!
