Florida Lot Loans

[Homeloan]

I'm looking for some lot loan programs for residential single family parcels in Florida. Can anyone help me?

[kyle422]

Your a mortgage broker located in Florida looking for lot loan programs for your state through a national/international real estate forum? That just seems a bit curious.

[Homeloan]

It's worth a try. You never know who might be reading this, right.

[pcdoc]

Homeloan, kyle422's comment was appropriate as we constantly deal with a ton of advertising spam on this forum.

[Homeloan]

The reason I'm looking for lot loans is I have a number of clients trying to buy lots in Florida. Last year I could get financing for 10 lot packages. Then in 2006 lenders only would finance 3 lots. And now in the last 3 months lenders are only allowing for one loan per lot. The rational is that lots are the first thing to be sold when times get rough. And forget about getting any refi on a vacant lot.

[pcdoc]

And forget about getting any refi on a vacant lot.

Makes sense to me.

[starke]

Have you tried Coast Bank? I'm a lender here in FL, and that's what I'd do.

Another thought is, if they have the credit, take them hard money. It's a 2 year balloon on a lot anyway. If they are serious about building, and aquiring... hard money shouldn't be a problem.

[drew23]

Thanks, I will look into it. I have heard of coast. They are known for doing CP loans.

[starke]

No problem... if need be, feel free to shoot me an email. We have a decent in house program if you are looking to do several.

[Mike Colpitts]

There are tons of banks and lenders in Florida, where I am located willing to do lot loans. ? wowowow.... Give me a call if you want the scoop. You can find me through my sites.