Are lenders loosing up their policy requirements for builders and developers purchasing raw land?

1) Land for residential zoning. Land for single family lots, land large enough for small track subdivision, land for larger subdivisions
2) Land for commercial zoning. Industrial, warehouse, retail
In Buying Property - Asked by Saundra Lee A. - Nov 28, 2010
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Answer(s)

Rob B.
Chandler, AZ

Saundra....
Not yet! It may be a while. However, word on the street is that more funds will be available for other loans in early 2011.
Good luck Saundra....
Rob Baird, CA RE License #544165 (One of the oldest, active licenses in CA) 951 515-5855 Email: rob@capratecommercial.com

Nov 29, 2010
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Jeff R.
Lender/Mortgage Broker
Birmingham, MI

The best form of construction financing out there is for small businesses that want to build for their business location. We are getting 80 - 90% loan to cost financing done for loan requests between $1,000,000 at 10,000,000. But none for developers

Dec 2, 2010
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Mike F.
Broker/Agent
Atlanta, GA

In Metro Atlanta, we're not seeing any lending for residential subdivision development. However, there is some financing available for land development where the borrower intends to use or occupy the finished structure. Custom homes built to order are getting financing as well as commercial buildings for strong credit business users -- these are usually backed by SBA guarantees.

Dec 12, 2010
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