Land Loans

When your traditional lender will not lend on land, People’s Choice Land Loans can solve your problem.

With LTV's as high as 50% and Loan To Cost as much as 100%, our Land Loans have the speed and flexibility you must have to act fast when the opportunity presents itself.

They can be expensive, but cheaper than taking in a partner or not doing the project at all. 

LOAN AMOUNT:  $500,000 and up. 

BORROWER:  Owner/developer with track record. 

LOAN TERM:  1 to 3 years, interest only. 

PREPAYMENTS:  Loans may be prepaid at any time, after a possible lockout period, most with no prepayment penalties. 

INTEREST RATE:  Rates start at 12%.  Interest is paid monthly on the amount drawn based on the disbursement schedule.  

COLLATERAL:  First mortgage on land, existing structures, and future structures.

LTV RATIO:  Up to 75% of the as-is value and up to 100% of development costs.

USE OF LOAN:  Proceeds may be used for construction costs, real estate acquisition and related costs. 

ITEMS NEEDED:  Completed loan application, title report, appraisal, project overview, proposed building plans, cost projection for disbursement schedule, exit and re-payment plan, proof of funds for purchase of land and occasionally some other financials. 

FEES: Varies from project to project 

Request Information