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Commercial Land Qualified Property Type |
Raw land - Commercial Un-Entitled land - Entitled
land - PUD - Mixed use developments -
Horizontal Construction - Vacant
land - Paper lots - TIFS |
|
Loan Types |
Purchase, Refinance,
Cash-Out, DPO, Foreclosure prevention,
Bank Work Out, Stalled Sub-divisions -
Commercial Land Financing is available
today! |
|
Lending Area |
Hawaii, Oregon -
Colorado - Utah
- New Mexico -
California - Arizona - Nevada -
Florida - Idaho - Oregon, Florida and other
markets considered Nationwide. |
|
Min - Max Loan Amount |
$500,000 to
$20,000,000 |
|
Term |
12 to 36 months |
|
Interest |
6% to 13% Interest
Only - Fully amortized commercial land
loan is also available |
|
Amortization |
Interest Only -
Interest reserve (no monthly payment) |
|
Maximum LTV |
Typically - 30-50% as
is value bases upon an appraisal |
|
Lien Position |
1st Lien
only |
|
Prepayment Penalty
|
Typically None |
|
Minimum Credit Score |
None - Pricing will
be related to the overall risk |
|
Origination Fee |
1% - 5% of the loan
amount - Depends on the commercial
land loan program. |
|
Exit Fee |
0% is typical |
|
Due Diligence Fee/Deposit |
Borrower is
responsible for all third party report
fees. Typical range $3,500 - $9,500
after written approval. |
|
Closing Timeframe |
3 weeks give or take
a few days is typical |
|
Submission Documents |
- Executive summary of the
commercial land financing
- Aerial Photos or existing
appraisal
- Sources and uses
- Purchase contract or LOI if
acquisition
- PFS and idea of credit
- Exit Strategy - How the loan
will be re-paid
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