Commercial Lot/Land Loans
For a Rate and Fees quote call
This program is designed to provide a business loan to purchase a commercial lot or refinance a current commercial lot loan. Commercial lots must be eligible for present or future commercial construction. Construction financing is also available.
- Loan amounts from $35,000 to $2,000,000
- Loan amounts from 50% to 60% of the purchase price. If entitlements are not in place on the land, loan amounts can be less than 50% of the purchase price or value. Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts
- Foreign Nationals are eligible for this program
- Deal directly with the Loan Officer/Underwriter
- Fast pre-qualification, typically within 3 – 5 business days, closing typically within 30 days (fast track closings in 14 +/- days available if certain criteria is met)
- Interest only payments
- No minimum acreage requirement or maximum limitations
- Loans are available to Borrowers with excellent to less than perfect credit (subject to underwriting)
- Commercial zoned land with entitlements or multi-family 5+ units.
- Limited income documentation available at 40% loan to value or less
- Up to a 5 year term
- *All rates and terms subject to change without notice
Rates and Fees (Based on credit score, income, savings and LTV)
- Rates: Prime Rate plus 2.50% to 4.50%+
- Loan Fees: 1.25% to 1.75%+
- Application Fee: $650
- Fast Track Closing Fee: $1,250
- Underwriting Fee: $450
- Maximum Broker Fee: 1.50% to 2.00% (subject to Broker Compensation option)
To start the pre-approval process, download the Loan Submission Form above and include a completed 1003, current Tri-Merge Credit Report and appraisal, if available.