LAND AND LOT LOANS
LAND AND LOT LOANS
Lending Parameters
Non-Income Producing Land that is zoned Residential.
Max Size: 40 Acres
Max Loan to Value:
- 660-699 Credit Score = 80% LTV
- 700+ Credit Score = 90% LTV
Max Debt to Income
- 45% monthly gross
- 35% unsecured
Minimum Loan Amount: $10,000
Fixed Rate Loan
- Term = 5 year/ 7 year/ 10 year
Procedures
Required Documents
- Last two years full tax returns
- Last two years of W2s
- Pay stubs from last 30 days
- Bank Statement from last two months
- Copy of ID
Full Title Work Required
Full Appraisal Required
