LandLoan.com

About LandLoan.com

LandLoan.com is an asset-based lender in Indianapolis, IN offering funding in 14 states throughout the US. Their focus is mainly on commercial loans. They issue terms between 6 months and 3 years, rates ranging between 8% and 13%, and loan amounts ranging from $500,000 to $20,000,000 with a maximum LTV of 50%. They do not require borrowers to have a minimum FICO score to receive a loan. They will consider varying loan scenarios but generally focus on undeveloped land.

Loan Types Offered: Commercial Hard Money Loans

Property Types Covered: Land

Areas Served: IN, TX, NV, NM, CA, AZ, FL, ID, OR, WA, HI, GA, NC, SC

Lending Guidelines for LandLoan.com

Below are the general loan guidelines published on the LandLoan.com website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by LandLoan.com.

Loan Example 1

LandLoan.com issues a private money loan to Ron for the acquisition of a new retail space after he is turned down for a standard loan by his local bank due to a subpar credit rating. The new building costs $390,000. Based on a 55% loan-to-value (LTV) set by the lender, the loan principle is $214,500. The remaining $175,500 will be be paid by the borrower. The terms of the deal include a 12 month length, a 11% interest rate, and a 1 origination fee paid by the borrower when the deal is closed. By the conditions of this loan, Ron will have to pay origination points of $2,145 when the loan closes. He will also start to make payments of $1,966 / month throughout the duration of the note and will pay off the principle amount at the end of the 12 month loan term. Should he decide to re-pay the note early, he may do so without an additional expense since there is not a pre-payment penalty attached to the deal.

Loan Example 2

Cristina finds a property in Houston, TX to remodel and resell. Since she does not have enough cash to buy the property outright, she takes a hard money loan from LandLoan.com with the following parameters:

$180,000 sales price
60% loan-to-value (LTV)
18 month term
10% rate of interest
4% origination fee

Once the renovation project is complete, if Cristina sells the property for $270,000, the outcome would be as follows:

$270,000 sales price
- $108,000 loan principle (60% LTV)
- $72,000 down payment (40% on 60% LTV)
- $4,320 origination fee (4% of the $108,000 principle amount)
- $16,200 total interest paid (18 months x 10% interest)
-----------------------
= $69,480 gross profit (does not include taxes or rehab costs)

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