Residential Land Loans

We are looking for experienced, quality sponsors, and corporate institutions that have opportunities to acquire or refinance stalled residential land projects from local banks, thrifts, or other hedge funds at a relatively low loan to value. We would also consider refinancing existing performing notes, trust deeds, or mortgages for cash out or development so long as there is enough equity in the residential development project and the exit strategy makes since.

Our borrowers usually don't meet the bank guidelines in one way or another. The closings are fast - If the situation fits our loan parameters and it makes sense, then it is very likely we will offer you a residential loan development solution.

We look for real cash and or equity into the deal. NO 100% financing. We will give you a quick and common sense answer.

TARGET SPONSOR & DEAL PROFILE:

Small, midsized, to large private or public builder/developers with a successful and proven track record of turning or developing residential lots in their respective markets.

Established markets 50,000 or greater population are preferred but, will consider other sub markets. - Rural properties are difficult - The market should display positive population and employment growth.

The development is typically either a stalled project, bank owned REO, or ballooning note with most, if not all, of the horizontals completed.

All projects must have full or partial entitlements. If project not that advanced, please consider another variety of our land loan products such as Raw Land Loan or Developer's Capital.

Call us today - 317-663-3153 - Virtually all Commercial Property Types Considered!

Residential Development:

Eligible Properties	Purchase - Refinance - Cash out - Bank owned, REO properties, Stalled residential subdivisions, Ballooning notes, Residential Development Loans
Minimum Loan Size	$500,000 - $20,000,000+
Pricing	11.99% - 13.99% Interest only - 5% - 7% Origination points (paid at closing)
Loan Terms	12 - 24 months from initial investment
Prepayment Penalty	None
Personal Guarantees	NO - Non-recourse format
Loan-to-Value	50% AS-IS maximum LTV- As completed LTV is not typically considered
New Equity (cash) Requirements	Typically no new cash for Refinance or cash out - Purchase minimum - 10% - 20% of total projected cost
Third Party Reports	Appraisal - Collateral value opinion Reliable Phase I environmental report (older report can be used if property does not display obvious signs) DML Property inspection (required) ALTA land survey
Preliminary Submission Package For Residential Land Loans:	1.Well written summary of the property description, current entitlement status and goals 2. Representative color aerial photographs - (6 - 7 preferred) 3. Sources & uses 4. Sponsor(s) resume