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| Business Purpose |
Acquire 1-4 family residentially zoned property, complete infrastructure and construct homes for sale |
| Loan Amounts |
$100,000 to $5,500,000 |
| Terms/Maturity |
Up to three (3) years* |
| Interest Rate |
Variable, based on the Prime Rate as published in the Wall Street Journal plus a margin |
| Access to Funding |
Advanced for acquisition and as infrastructure and housing is completed |
| Monthly Payment |
Interest only monthly; Principal paydown on a lot release schedule |
| Collateral |
First mortgage position on land to be developed and homes to be constructed |
| Guarantees |
Required from each borrower/owner |
| Costs |
Closing costs may vary by type of property, dollar amount of loan and
complexity of transaction origination fee |
| Features/Benefits |
Over 50 years of experience lending to builders/developers |
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| *Applies to non-owner occupied properties. For owner-occupied properties, please contact us to learn about similar programs. |
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| Commercial RE Mortgages | LOC | Term
Loan |
