Private Money Land Loans in
The Greater Los Angeles Area
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Today's challenging real estate market makes it harder than ever to secure financing for raw land. To that end, New Haven Financial has private investment capital available to fund private money land loans loans in Los Angeles, Ventura County, Orange County, and Santa Barbara County.
Our private money land loan are very popular, as landowners realize that banks and conventional lenders have all but stopped making land loans. Most lenders and banks realize there is no "cookie-cutter" approach to analyzing a land loan, so, rather than spend the time to educate themselves on a land loan, they pass. That is where we shine as a private money lender. We understand that the only way to evaluate a raw land loan is to put on our boots, roll up our sleeves, and prepare to get a bit dirty. It is also SOMETIMES necessary to review stacks of documentation, have conversations with city and county governmental authorities, and to make decisions based on an assessment of various probabilities with the understanding that there are no certainties when it comes to raw land development. The banks wont do this, we will, and we do!
WHat To Expect When Shopping For a Private Loan For Raw Land
A private hard money land loan will carry an interest rate of 10-15%, with
fees of 3-10 points. A land loan will always be more expensive than a loan for an improved
property, let me explain why...today, building has slown to a very slow pace. Very
few lenders are lending on raw land. To that end, anytime a private hard money lender lends on raw land, they always
factor-in taking the land back. Private lenderss are not in the business of carrying raw land, we are in the
business of lending our private funds. If we take the raw land back, we need to lower the
price significantly to attract a buyer, and, there will be no income while waiting for the sale of the raw
land. Hence, there is a great deal of risk when a private hard money lender looks at a raw land investment, so,
we increase rates and fees to compensate for the higher risk.
Contact Donald Timms at (805)832-0572 or info@privatemoneybankers.com
General Guidelines On Raw Land Loans
* Maximum Loan To Value of 65%* Minimum Loan of $100,000
* Rates are 10-15%
Private Money Loans Has Financing Available For:
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Conventional and Private Money Loans are Available for the Following:
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Commercial | Residential
| Raw Land | About Us
| Contact
Land
Private Money Bankers
Donald G. Timms
Phone: 805-832-0572Email: info@privatemoneybankers.com
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