Lot / Land Financing
You have been looking around and have found the perfect piece of land to build your next project. But wait, you don’t have plans or an architect chosen yet? What do you do?
Vanguard Funding Corp can get you the lot financing you need so that you can focus on getting your architect and plans together.
We will lend on finished lots and raw land. A finished lot is one that does not need retaining walls; it does not need extensive grading and is surrounded by paved streets with ready access to water, electricity and sewer.
Q: What are the guidelines for Lot Financing?
A:
Gross Loan Amount |
Max Loan-To-Value |
$20,000 - $3,000,000
|
Purchase land transaction:
Up to 60% of Purchase Price or Appraised Value which ever is less.
|
Refinance land transaction:
Up to 50% of Appraised Value.
|
Loan Terms:
- Up to 6 months up to 5 years
Prepayment penalty:
Property types : (*LTV may be reduced)
- Residential
- Commercial *
- Industrial *
- Rural locations case by case *
Vesting:
- Individuals
- Partnerships
- LLCs
- Corporations
- Trusts
To get started, tell us a little about your project, apply using our online application or contact a Vanguard team member today. |