Sized off a conservative as-is value, not off your income. No appraisal, no survey, no tax returns. You bring the down payment, the $600 doc fee and title costs to closing, and nothing else.
How Each Loan Is Sized
| Program | Loan Amount | Term | Rate |
|---|---|---|---|
| Bridge land loan | 50 percent of conservative as-is value as the standard, up to 65 percent when the value and resale speed support it. Never more than 80 percent of the purchase price. | 24 mo | 14% / 16% |
| Cash-out refinance | 50 percent of the lower of what you paid or the as-is value. | 24 mo | 14% / 16% |
| Refinance, no cash out | Pays off your current loan, balloon included, up to 65 percent of as-is value. If you owe more, you bring the difference to closing. | 24 mo | 14% / 16% |
| Subdivide | Up to 80 percent of the purchase price if the plat records at closing and perc tests show conventional septic for every lot. Otherwise 65 percent of as-is value at closing plus a 15 percent holdback released when the plat records and every lot passes perc. Partial releases as lots sell. | 24 mo | 14% / 16% |
| Outdoor storage | 50 percent of what you paid. 65 percent with 12 months of bank deposits showing the income. | 12 mo | 14% / 16% |
What Qualifies
For an operating farm or ranch rather than raw ground. Sized off the global cash flow of the whole operation, every entity included, not off the dirt alone.
What The File Has To Contain
What Fits
Send the returns for every entity at the start. Incomplete files get set aside, and that is the most common reason a good farm deal stalls here.
Anything you do not have yet can be left blank. An incomplete file is still worth sending.
State, acreage, price, value and what you want to borrow is enough to size it. Every file is reviewed by a person and answered within one business day, including the ones that do not work, which are declined the same day rather than left open.
(561) 410-2098