Long Term Commercial Loan
Land Loan
Program #LG322
Land Loan
Program #LG322
Summary of all Guidelines | |
| Loan Types | Commercial Loan |
| Property Types | Land Entitled, Land Non-Entitled |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $250,000 |
| Loan amount Maximum | $2,500,000 |
| Credit Score Min | 720 |
| Lien Position | 1st |
| Prepayment Penalty | No Prepayment Penalty |
| Intended Occupancy | Owner Occupied Business |
| General Pricing or Guideline info | Loan Qualifications There are different types of land loans, and each has qualifications to be met by borrowers. However, general rules apply to all land loans you should meet as a borrower. • A good credit score, preferably above 720 • A detailed explanation of your intent with the land loan • Mention necessary property checks such as surveyed boundaries, zoning, access to utilities, and land-use restrictions. These are the factors that land loan lenders use to determine the obligations and rates of the loan. Land loans generally have higher interest rates, but you can get better rates with a good debt-to-income ratio and credit score. |
| Updated as of | 2023-11-13 |
Loans Qualifications
There are different types of land loans, and each has qualifications to be met by borrowers. However, general rules apply to all land loans you should meet as a borrower.
• A good credit score, preferably above 720
• A detailed explanation of your intent with the land loan
• Mention necessary property checks such as surveyed boundaries, zoning, access to utilities, and land-use restrictions.
These are the factors that land loan lenders use to determine the obligations and rates of the loan. Land loans generally have higher interest rates, but you can get better rates with a good debt-to-income ratio and credit score.
These descriptions are limited information and meant for general reference purposes.- Sean McCaffrey
