Land development loans
Capital for land acquisition and horizontal work, from pre-contract through lot completion. Underwritten before it goes to market and placed through a competitive process.
Pricing is quoted as an index plus a spread in basis points; 100 basis points equals 1.00%.
Terms are indicative until credit approval, and reflect the best available as a standalone, not a combination. Maximum leverage and best pricing are generally obtained at the cost of the other, and lenders size to the lower of LTC and LTV. Leverage and pricing move with sponsor creditworthiness, experience, market, and scope. Not all borrowers will qualify for all products.
What is reviewed
Market demand, pricing, lot yield, budgets, and key third-party reports including environmental and geotechnical studies.
Phased plans
Structural protections are assessed so future phases are not compromised by early lot or unit sales.
What to send
Tell us about your project
Address or parcel, unit type, count, budget, schedule, capital committed, and intended exit are all helpful details to include.
Turnaround
A response within 1 business day; a read on feasibility and indicative structure within 2.