Development Lot Loans

Lot Loan Terms Presales: Do you have LOI in place from homebuilders with acceptable non-refundable deposits Gross Loan Amount: $5 up LTC: 65% to 75% of total cost (hard + soft + carry) with non-refundable builder deposits counting towards equity LTV: 55% to 65% of finished lot value Interest Rate: depending on level of LTC, LTV, builder strength, developer experience and opportunity for repeat business Recourse: typically, non-recourse Term: up to 48-month base term Location: nationally Timing to Close: typically, 45-60 days