[Everydollarcounts]

What is the goal you are trying to achieve with the refi? To payoff business debt

Current mortgage balance: 0

Current available equity: 2.4M

Current property value: 2.4M

690 credit score

No other properties to refi

Anyone interested? Lenders only - no other brokers please. DM.

[Olderguy]

Lenders for that type of loan typically wouldn't be on a MCA forum...

Reach out if you have trouble with this.

[Olderguy]

You aren't going to get a loan on land just to pay off business debt.

So you just want to take cash out?

From the lenders perspective you have to consider if the client doesn't make the payments, how liquid is the asset - and land isn't very liquid. That's how the lenders look at land deals as development makes it a bigger picture project.

Do you have a construction development plan in place?

A lender just isn't going to do a cash out on land without a plan and exit strategy.

Development will need executive summary, business plan, resume of development partners, proforma, exit strategy,

You need grading, permits, entitlements, final map, shovel ready.

30% - 50% LTV on land with up to 100 LTC on development.

https://drive.google.com/file/d/1s-8...usp=drive_link

[omegafund]

I have funded millions in land loans this year and plenty in Colorado.
The above Benjamin is correct if you go private money the lender will typically want the funds going back into the project with plenty of documentation and exit, but at a LTV under 30% you may get away with documentation depending on the area.
Client may be better off going to local bank or credit union it will take longer but some of them dont need all the paperwork. I have referred deals to a local credit union and all they asked for was tax returns.