Phil Smith's (pwsmith2) Blog

LENDING PARAMETERS OVERVIEW: Interest Rates: 9.99% ‐13.99% Amortization: Interest Only LTV: Up to 65% on income producing properties CLTV: Up to 100% on income producing properties (ltv might be reduced to compensate for risk) Origination Fee: 3 ‐ 6% taken at closing from the loan proceeds Loan T...

I just came across a source for land loans to 95% LTV Less than 20 Acres.  80% for over 20 Acres.These are full doc loans, with loan amounts to 1 Million Dollars.  This is sweet, just when land loans were getting non existent a new source emerges.Give me a call and we can see if it fits your needs. 

Thought I would start with something simple.I began in the lending industry in the late 70's and have been working in some aspect of real esate since them. Either lending, insurance, developemnt and services.   The last few years have been fun low rates, and taking orders but with the slow down t...