Financing land can be difficult at best sometimes. The loan to value ratios are lower, the property is not generating any income, and lending institutions often times do not want to entertain these types of loans. We, on the other hand, are able to help finance California hard money lot loans.
Our hard money lot loans are loan to value based. Typically speaking, we can help finance between 30-50% of the value. For purchases, we can typically help at the higher end of that scale. For refinances, the range can vary depending on the use of funds, how long the land has been owned and other factors.
We have a lot of success with our hard money loans for infill lots. We are able to be flexible on how we structure these loans. For lots that are intended to be developed, we can potentially finance an interest reserve and/or some of the soft costs. Once plans and permits are in hand, we can also assist with a hard money construction loan for the ground up build.
In addition to infill lots, we can also help with more unique or rural lots. Our California hard money lot loans and land loans can help with large lots and small lots - from a few thousand square feet up to hundreds of acres or more.
These loans for land are typically short term. 1-3 years is typical, although we can sometimes provide longer term financing. The payments are typically interest only, with minimal or no prepayment penalties.
Lot loans and land loans are unique by nature. We specialize in unique loan requests that others may not be able to help fund. If you are looking for a California hard money lot loan or land loan, give us a call today at 877 462 3422 to discuss the particulars. We are always happy to talk about the situation and loan request, giving you our best estimate of how we can help.