Land Loans - Nationwide


Blackburne & Sons Realty Capital Corporation (est. 1980) is seeking the following types of land loans:

Lending Area

  • Nationwide
  • We particulary like California

Minimum Loan

$100,000

Maximum Loan

$1,500,000 (maybe up to $2,500,000)

Acceptable Land

  • Commercial lots
  • Residential subdivisions
  • Single family individual lots in California only (investors only)
  • Corn farm land (our favorite)

Lending Area

  • Nationwide (Crime rate of the neighborhood must not exceed 125% of the national average)

Amortization

Interest-only

Loan Term

3 years interest only

Points

3.5 points

Prepayment Penalty

Usually none

Application Fees / Upfront Fees

None

Loan-to-Value Ratio

  • Purchase money loans:  50%
  • Refinances:  40%
  • Large remote parcels: 25%
  • Corn farm land: 55% to 60% (our most favorite collateral of all)

Interest Rate

  • 10.9% to 12.9% in California
  • 11.9% to 14.9% outside of California

Every one of our hard money land loans is individually-priced based on the risk, the desirability of the property, and the size of the loan (larger loans are more expensive).

How to Guesstimate Your Likely Interest Rate

  • California base rate:  11.9%
  • Outside-of-California base rate:  13.9%

Start with the base rate for your state and then add or subtract the following.

  • Subtract 1% for purchase money loans
  • Subtract 1% for more than 30% down
  • Add 1% for less than 30% down (20% minimum downpayment)
  • Subtract 1% if the loan-to-value ratio is less than 40% (except remote parcels)
  • Add 1% if the loan-to-value ratio exceeds 40%
  • Subtract 1% if the loan is smaller than $400,000
  • Add 1% if the loan is larger than $700,000 but smaller than $1MM
  • Add 2% if the loan is larger than $1MM
  • Subtract 1% for finished lots (utilities already at the site)
  • Subtract 1% for credit scores of 700+
  • Add 1% for credit scores between 550 and 630
  • Add 2% for credit scores below 550

Income Property Pricing Matrix

Please click here for our latest Pricing Matrix for Standing Commercial Properties

Sacramento Office:

            BLACKBURNE & SONS REALTY CAPITAL CORPORATION
            4811 Chippendale Drive, Suite 101, Sacramento, CA 95841

            Alicia Gandy - Loan Department Manager and Loan Officer
            gandy@blackburne.com
            (916) 338-3232
            DRE # 01430908
            NMLS # 389678

            Desmond Stoll - Loan Officer
            dstoll@blackburne.com
            (916) 338-3232
            DRE # 01311030
            NMLS # 1013512

Midwest Office:

            Tom Blackburne - Loan Officer
            tommy@blackburne.com
            (574) 210-6686
            DRE # 01919403