Business Hard Money Loans from Coastal La Jolla Funding Group
California Land Loans
California Land Loan Definition:
California land loans are any loans that are made against existing mortgages of land within the state of California. A California land loan can be used for building residential or commercial units within California.
Why would someone take out a California land loan?
A California land loan would be used to buy land or settle loans used in buying land or use part of the loan for other non-housing purposes.
For our California land loans, CLJF normally lends up to 60% of the land value. Land loans can be considered start-up loans that are usually used to start-up construction. We can loan on raw land but as the process goes, the next step is entitlements and permits and then the construction begins. Usually construction begins after all the land is entitled and all permits are secured. As construction begins the value of the land increases and now the developer can qualify for a larger loan based on approximately 70% of the value. Usually the value of a California land loan is based on the"as is value" and then the sell off value which is used in case the borrower defaults and the investor wants to cash in the land. The security for the loan is always the value of the land and that means the investor will hold the note or 1st trust deed to the land. There are certain situations where we can secure 2nd trust deeds, again based on loan to value.
Pre-qualifying for a California Land Loan
Pre-qualifying with our loan team for a California land loan is easy, fast and getting started is just a click away. Either fill out our online application or phone our Director of Operations to see whether you qualify for a hard money loan.
Craig Cecilio
ph: (858) 456-2423
fax: (858) 225-3683
Click here for our hard money loan application
Calfornia Land Loan Repayment:
Our California loan loan repayments normally run up to 20 years, but if you are below the age of 30 years you can go up to a 25
year term; keeping the monthly payment really low. Interest rates on our standard land loan products is variable and individual
loans are quoted either at a discount or premium to our base lending rate. The discounts and premiums primarily depend on land
loan purpose and security coverage.
If you would like to apply for a land loan through Coastal La Jolla Funding, click on our California land loan application.
If you would like to apply for a bridge real estate loan through the Coastal La Jolla Funding, click on our California land loans application.
For our California Land Loan Print Page, click on our California Land Loan Print Page.
CALIFORNIA LAND LOAN LENDER INFORMATION
Note: Coastal L.A. Jolla Funding is a California land hard money lender and Florida California land hard money lender that funds hard money loans, California land loans and commercial hard money loans within California and Florida. We specialize in California land loans, Florida land lender loans, commercial hard money lender loans, hard money real estate loans, hard money constructions loans, California land personal loans, direct California land loans, subprime loans and California land loans. As both a hard money lender and a California land lender, the material on this web site covers a variety of topics on California land loans and is for informational purposes only. The information on our hard money loan lender website is inherently limited in scope, may change without notice, and does not contain all of the applicable terms, conditions, limitations and exclusions of the products and services described herein.