- Loan Amount: $550,000
- Term: 18 months
We are not afraid of lot loans for both residential and commercial properties as long as they are buildable. Lot loans require even greater analysis and this is where our experience comes in handy. It is very crucial to confirm the borrower’s exit plan, especially on lot loans. In this case, we had an extremely organized borrower who gave us a detailed timeline for the title entitlements. Most importantly, the borrower provided commitments from the financial institution that would be taking-out our lot loan with a commercial construction loan and eventually permanent financing. Again, we love working with bankers and well-prepared borrowers.