This program is designed to provide a business loan for a Borrower purchasing a commercial lot or refinancing a current commercial lot loan. Commercial lots must be eligible for present or future commercial construction. Construction financing is also available
The Case Financial Advantage:
Fast pre-qualification, typically within 3 to 5 business days
Deal directly with the Loan Officer/Underwriter
Loans available to Borrowers with excellent to less than perfect credit
No minimum acreage requirements or maximum limitations
Commercially zoned land only
Up to 3 year terms (longer terms available on an exception basis)
Loan amounts up to 55% of the purchase price
Interest only payments in the first year (payments after the first year to be determined)
Full income documentation, self-employed, limited income and stated income programs available
Loan amounts of $20,000 to $1,000,000
Rates and Fees:
Rate: WSJ Prime + 1.50% to Prime + 2.95%. Currently rate floors are in effect, please call for a quote.
Application Fee: $450
Loan Fee: 1.00% to 2.00% (based on overall qualifications)
Broker Fee: 2.00%
Documents required for a full application package. Submit by Email, USPS or Overnight Mail Only:
Loan Submission Form
Fully completed and signed 1003 application
Tri-merge Credit Report for Borrower(s)
Current month pay stubs if a W2 Employee
2 years tax returns including all attached schedules and W2's (if applicable)
Asset Verification (2 Months statements for all accounts including checking, savings, 401k, IRA, stocks, other)
Legible copy of a valid drivers license for Borrower(s)
Map of the Property
Signed and Accepted Purchase Contract for Land/Lot or Closing Statement on Land/Lot Purchase
Lot/Land Improvements List
Other: Investor will order all appraisals. The appraisal fee must be paid in advance.
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