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 Raw Land Financing

$1,000,000.00 - $50,000,000.00

Asset Based - No Minimum Credit Score -

No Income Docs!

Title Vesting

Closing must be executed in the name of a business entity (LLC, S-Corp, C-Corp).

 

POSSIBLE DUE DILIGENCE REQUIREMENTS: Environmental, Survey, Title & Property Appraisal

  • Phase I Environmental. If there are issues identified in Phase I, a Phase 2 Environmental will be required.

  • Property survey (updated within the last 18 months)

  • Full Property Appraisal

  • Clear Title

Loan Commitment Fee

A loan commitment fee is always required on any commercial property financing transaction. Commitment fee is ONLY QUOTED AFTER REVIEWING THE DETAILS OF THE TRANSACTION.

Required Documents For Underwriting Approval

  • Clear and legible copy of government issued ID (all members of business entity)

  • Copy of IRS EIN Letter

  • Copy of Operating Agreement for LLC or Incorporation for a Corporation (if applicable)

  • Copy of Operating Agreement for LLC or Corporate Charter/Bylaws for Corporation

  • Certificate of good standing (if applicable)

  • Purchase contract or evidence of property paid in full

  • For refinance: Copy of current mortgage statement from lender, copy of property insurance policy, statement of current homeowner’s insurance policy

  • Business Entity – Certificate Of Good Standing (issued within last 30 days from Secretary Of State)

General Funding Guidelines

Loan Amounts

  • Minimum loan amount is $1,000,000.00.

  • Maximum loan amount is $50,000,000.00.

Interest Rate Range

Interest rates typically range from 14% – 16%.

Program Highlights

  • Loan amounts $1,000,000.00 – $50,000,000.00+

  • No Prepayment Penalty

  • Possible loan term up to 5 years

  • Up to 50% LTV

  • Fast Preliminary Review Of Deal Scenario

  • No personal income and no employment verification!

All Types Of Raw Land Scenarios Qualify

Our land program is perfect for borrowers who are interested in buying or refinancing land, whether raw, unimproved or improved, because it allows time to change the zoning, get entitlements approved or secure construction financing.

Seller Held Financing Allowed

For most transactions, seller held financing is allowed OR 2nd mortgage financing. Borrower must contribute a minimum of 10% – 20% down payment to a purchase transaction.

Seasoning On Title Requirement

For Refinance: Must be on title for a minimum of 12 months prior to closing.

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