Land Loans In Los Angeles
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Los Angeles Hard Money Land Loans
If you're looking at a piece of land with the intention of buying it, we recommend looking into financing options other than taking out a traditional bank loan. There's only a little chance that bank will approve an application for raw land, but fret not! We're not about to let this stand in your way. Los Angeles land loan lender will help you with every step of the way.
The Problem with Banks and Investing in Land
In many ways, a raw piece of land is more risky than property with an existing structure. It hasn't been improved or even zoned and so there's no income potential. If you're approved for a loan, the rate will be higher and the LTV (loan to value) lower. The banking industry has regulations to protect their interests – not yours.
If you want the ability to borrow money quickly, and have it tailored to your needs, hard money is the way to go. Los Angeles hard money land loans lenders are willing to work with unique requests and offer rates that are as close as they can get to prime.
What You Need to Know About Los Angeles Hard Money Land Loans
One of the first things to do before buying land is making sure that you have a workable plan for it. This includes considering zoning, improvements and surveying the property. For instance, you'll want to know what utilities are already in place and whether you'll need to put in sewer or another type of utility. You'll also need to have the property professionally surveyed so you know where lines and access points are.
When you're looking to purchase land in Los Angeles and need access to quick funding, it's important that you create a plan that illustrates how your purchase will improve the value of the property. In order to pay off the land loan from hard money, you'll need a better strategy than simply throwing all your resources at it.
Types of Land Transactions That We Work With
- Urban Land in Metropolitan Areas
- 50% or Less of the Acquisition Cost
- Raw or Entitled Land
- Hillside Construction Land
- Real Estate Development by Experienced Contractors
- Business Purpose Only
Get the Land Loan Money You Need Fast and Safe
If you're having a tough time getting your loan through traditional means, hard money land loans may be the solution for you. Rather than dealing with reams of paperwork and being denied because of things like your credit history or bankruptcy, a private money loan might work better!
With hard money loans, the amount you borrow is determined by the collateral you put up. Private money lenders will pay less attention to your credit score and more attention to the value of the collateral.
Hard money land loan lending is a good option for many types of real estate deals, including land. Pre-approval and funding can often be provided in as little as 15 days or less. In some cases, you can get pre-approved the same day. That means you'll have the opportunity to go ahead with your plans for the land and make your vision come to life.
If you're interested in learning more about hard money land loans, it's important to talk to a knowledgeable hard money real estate investment team. We offer competitive interests and low origination fees, so there's no reason not to get started today. The approval process is also fast--a must-have for any last minute financing needs. Call us at (855) 858-0853 or get instant quote now.
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