land purchase

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elwahsh1124

33 Posts

Posted - 05/20/2008 : 3:01:38 PM

760 fico stated whats the max ltv???

EMScommercial

5141 Posts

Posted - 05/20/2008 : 3:03:36 PM

where?
entitled?
how much is the purch price?
exit strategy?
financial stability of borrower?

entitled = max of 60-65%
unentitled = max of 50%

Please let us know if we can help you with your commercial scenario(s) - I'm sure that if there is any financing options for your clients out there, we can find it in our vast internal database of commercial lending sources of which we are direct brokers for (currently stands at 325+ entries as of today (lenders, banks, private money, hedge funds, pension funds, insurance companies, etc.)).

Eclipse Mortgage Services is the proverbial 'head of the snake'... the end of that broker chain.... next step - the lending source.....

** We issue a mutual NCND to protect both sides!! **

Remember... We only get paid when the thing funds!

Hyperlink to our page for submissions - very straight forward and simple - http://www.EclipseMortgageServices.com/body_contactme.php - we will receive your submission and an account managers will be assigned. Within one business day you will be contacted - starting the process!

Check out our BASIC RATE/TERM sheet to get an idea if your scenario is 'in the ball park' and then contact us to start the ball rolling to get specific numbers for your loan! http://www.EclipseMortgageServices.com/aaaaaEMS_ratesheet.pdf

Thank you...

hardmoneyfunds

58 Posts

Posted - 05/26/2008 : 11:22:10 AM

If this is in the Washington DC Metropolitan area (DC, Maryland, Virginia) and if hard money is an option, we can go to 50% of land's appraised value.

We are private equity-based lenders. We offer a true no-doc program (no credit report, no 1003, no tax returns, no bank records). We also lend for construction.

Sincerely,
Georges Franco
--
Georges Franco
(202) 595-5472 Tel
(877) 720-7409 Fax
gfranco@applyforhardmoney.com
www.applyforhardmoney.com
Hard Money Loans for Real Estate Investors
Residential / Commercial / Land / New Construction
DC Metro area (VA, MD, DC)

lenderben

1098 Posts

Posted - 05/27/2008 : 06:37:41 AM

We're at 50% of the future value as a total loan amount and 50% of the as-is value as an initial draw. the remaining funds are held in a completion reserve to be drawn out as work is being completed.

samwillsonbiz

194 Posts

Posted - 05/27/2008 : 08:45:03 AM

Depends what type of land.

Raw land = 50% (MAX!)

Agricultural = 70%
Rural with intent to build residential home = 85 - 95% Depends on loan size.

Hope that helps.

Call or email me with any other questions.

wolsen3129

66 Posts

Posted - 05/27/2008 : 1:47:14 PM

Raw land: 50 to 65%.
Land purchase/construction: 80 to 95%.
Also depends on location and amount to borrow.
Contact me with any other questions.

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