Development Loans

 

What is a Development Loan?

The purpose of a development loan is to get the project ready for construction.  The money is typically used for grading, roads, utilities and other preconstruction costs.  Examples include commercial sites, malls, subdivisions, apartment complexes, golf courses, etc. Western Highland Mortgage has been involved in several large Development Loans, including Genoa Lakes Golf Club, (pictured left). 

 

We are most often contacted for Development Loans in order to convert large plots of raw land (40 acres or more) into subdivisions for housing. Many borrowers find us convenient to work with because these development loans easily convert into construction loans once initial conversion of the raw land is achieved. Our Loan-to-Value ratio varies due to the wide range of development loan types, Please Contact Us now for a risk-free consultation.