Financial Compound arranged a land loan facility that allowed the borrower to refinance two single family residential communities in different states in the midwest and southwest. The midwest property has approximately 500 home sites on 700-acres. Custom homes prices are expected to be valued between $1 and $3 million. The development includes custom homes and detached cottages. There is also plans for an 18-hole golf course. Loan terms included a 12% interest rate and 3.5% lender fee. The loan is non-recourse.
A commercial mortgage broker such as Financial Compound is able to help its borrowers place and close land financings, in addition to more traditional commercial mortgage loan products.