• Purchasing Land with Home……. NO PROBLEM!
• Consolidate an Existing Land Loan……. NO PROBLEM!
• The Land is Free-and-Clear of any Liens……. NO PROBLEM!
• Land has an Existing Lien with Good Equity……. NO PROBLEM!
We are YOUR SOLUTION for deals that involve land. We have four (4) convenient loan options to pick from and we are committed to providing you with the best service possible!
LAND PURCHASE OPTION
For customers who want to finance the purchase of land along with the purchase of their home. This can be for either a HUD or Modular built home that is permanently being fixed to the ground. Great way for the customer to own land and to start building equity while avoiding paying lot rent for their home plus there may be added tax benefits. This type of property would be classified as a real property mortgage just like a site built home. We have hundreds of possible financing options to choose from. These types of loans are processed through, Builders Resource Funding LLC, an affiliate of Alliance Credit LLC specializing in mortgage lending.
LAND CONSOLIDATION OPTION
If your customer currently owns land but has an existing lien against the land, we can payoff that existing lien by including that amount in with the loan to purchase their home. This is very convenient for the customer as they only have to make one monthly loan payment instead of two and possible will have no money out of their pocket in the purchase of their home.
2ND LIEN OPTION
For those customers that currently own land and have equity in the land that they’d like to utilize as down payment on the purchase of their home. However, there is an existing lien against the land and the customer prefers not to pursue our Land Consolidation Option. No problem, we can take a second lien position on the land as long as there is adequate equity. This way there may not be any physical money out of the customer’s pocket.
FREE-N-CLEAR OPTION
Land-In-Lieu, the simplest! For those customers that own their land where there is NO existing liens. This type of loan allows the customer to buy their home with no money down because they can utilize the equity in the land. With this deal, the customer typically gets the best rate!
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