any ideas on who would do a line of credit on an unencumbered land in Chipley FL for even 50% or 40% LTV. the land will definitely appraise out based on surrounding comparables
What is zoned; commercial or residential?
Rural or urban?
I am aware of hard money program that allows for between 65-70% for undeveloped commercial/residential land up to 5000 acres.
Depending on the use, Farm Credit Services will do rural land deals as high as 85-90% LTV in states that they operate. They hold and service their own paper.
This past spring I just did a 30 fixed on A-2 zoned acreage with them at 6.8%
There is nou doubt your best bet will be with the farm credit system. They are great. Try here: mylandlender.com