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Land Development Loans
For a Rate and Fees quote call
800-390-7536
Land Development Loans
This program is designed to provide a business loan to purchase and/or develop unimproved raw land for a residential or commercial subdivision. Construction financing is also available.
General Guidelines*
- Loan Amounts: $100,000 to $2,500,000
- Loan to Value: Up to 50% of appraised value, not to exceed 70% loan to cost
- Land purchase up to 55% of the purchase price. Cross collateralization allowed on other properties, if needed, for maximum loan amounts
- Term up to 3 years available
- Loans available to qualified Developers with no less than 2 years experience
- 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)
- Foreign Nationals are eligible for this program
- Deal Directly with Loan Officer/Underwriter
- Loans are available to Borrowers with excellent to less than perfect credit (subject to underwriting)
*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 Fee: 1.25% to 1.75%+
- Application Fee: $650 (Inspection fee may apply)
- Fast Track Closing Fee: $1,250
- Underwriting Fee: $450
