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Land development lending


Land Development Lending...

 

Mahich Banc Inc provides land development loans to middle-market commercial real estate investors and developers seeking to acquire and/or develop unimproved land for residential or commercial use. Subject to the characteristics of each transaction, general product characteristics include:

 

Loan Types

  • Residential development loans and related letters of credit
  • Commercial land development and related letters of credit
  • Land acquisition loans considered, based on debt service capacity of borrower

 Advance Rates

  • Residential or commercial land development — maximum advance equal to the lesser of 90% loan to cost (LTC) or 85% loan to value (LTV); up to 100% CLTC or CLTV with seller secondary financing.
  • Land acquisition loans — maximum advance equal to the lesser of 60% LTC or 50% LTV; up to 100% CLTC or CLTV with seller secondary financing.
  • Advance rates are project- and sponsor-specific, based on a variety of factors

For information on how you can maximize your financing flexibility, contact your Mahich Banc Inc. land development lending consultant.

 
Land Acquisition Loans:
We specialize on both entitled property and un entitled raw land. These deals are typically done at 80% Loan to Value, however we have the resources to get up to 90% financing on land acquisition in which the owner’s intent is to develop in the future.
Land Development Loans:

This financing covers the money necessary to Complete Entitlement Work and/or Infrastructure needed to either sell to a developer or hire your own General Contractor. We can provide financing not easily found of up to 100% loan to cost or 95% on the combination with a land purchase.
 


 
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