– 100%-LTC Financing up to 80% of Estimated “As Completed” Developed Project Value.
– Low Interest Rates starting at 2, 5 or up to 10 years U.S. Treasury fixed rate plus 1.50%. * Development/Construction Rates are based on the LIBOR Index. * Permanent Rates are based on the U.S. Treasury Index plus 1.50%.
– 30 Year Amortization.
– Permits and Entitlements Not Required to Proceed with Loan Approval.
– Payments Deferred up to 24 months.
– 5-year Loan Term with No Prepayment Penalty.
– Standard carve-outs permitted.
– No pre-payment penalties.
– Typically: 1% – 2% Loan Fee (from gross loan amount).
– No pre-sales or LOIs required.
– Must have feasible Exit Strategy.
– During the preliminary underwriting process, a Contingent Loan Approval with verifiable Proof of Funds to close can be issued in as little as 20 business days after all requested preliminary documents have been received and passed underwriting review.
– Funding usually within 40 business days total.
– No Prepayment Penalties.
– Nationwide & International.
– Clients typically pay off the land acquisitions loans via development financing or lot sales.
– Closing costs may also be rolled into the gross loan amount to make it possible to net the total funding amount required at closing.
– Bankable Business Plan in English,
– Bankable Feasibility Study in English,
– Basic Personal Information with Bio’s/resume’s on the guarantors,
– Basic Business Information and Permits with Borrowing Entity organizational documents,
– Use of Loan Form,
– Collateral Documentation:
• Basic information on the parties involved (management company, current owners, etc.),
• Property deed – Title policy,
• Site Plan – Survey,
• Capital improvements summary,
• Current Appraisal,
• Pre-Purchase and sale contract,
• Information on any existing liens,
• Tax receipts on the property,
• Leases and/or rental agreements on the property,
• Photographs of the property,
• Proof of any required insurance.
Contact us today or complete the attached simplified Funding Request Form with the pertinent information if you wish to proceed toward 100%-LTC financing (up to 80% of future/improved value or 80% of bulk sale value) for your land acquisitions and improvements or developments.