Conventional Land Funding
Does anyone know of a lender who can do conventional financing for land?
The loan amount is $1.5M.
Here is what I am trying to beat:
-15 amortization (client would like 20 if possible)
-rate is Pime minus .25-.50
-.1 pt. built into rate for my fees
-Interest Only payments for 1st 18 mos.
-Clients option to buy into another 18 mos. If needed (this shouldn't really
come into play as plans are already being drawn)
Keith Walker