Land Loans
Land Loans with KRA Private Mortgage Funding
Whether you’re planning to build your dream home, invest in real estate, or develop land for commercial purposes, we provide personalized lending plans to meet your unique needs. Our expertise in private mortgage loans ensures you receive the best terms and support throughout the loan process.
What is a Land Loan?
Land loans are specialized financing options designed to help individuals and businesses purchase land. These loans can be used for various purposes, such as building a home, developing commercial property, or holding the land as an investment. Here’s an in-depth look at what land loans are and how they work:
Purpose and Use
- Residential Development: Land loans can finance the purchase of land where you plan to build a home. Whether it’s a primary residence or a vacation home, these loans provide the necessary funds to acquire the land.
- Commercial Development: For businesses looking to expand or start new projects, land loans can be used to purchase commercial property. This includes developing retail spaces, office buildings, or industrial complexes.
- Investment: Land loans are also an option for those looking to invest in land as a long-term asset, holding it for future development or sale.
Types of Land Loans
- Raw Land Loans: These loans are used to purchase undeveloped land without any improvements or infrastructure. They typically require a higher down payment and have higher interest rates due to the increased risk.
- Improved Land Loans: These loans are for land that already has some infrastructure in place, such as roads, utilities, or buildings. They are generally easier to obtain and have more favorable terms compared to raw land loans.
- Construction Loans: These loans cover both the purchase of the land and the cost of constructing a new building. Partial releases are available as portions of the project are completed and sold.
- Hard Money Land Loans: These are short-term, high-interest loans typically used for quick financing needs. They are ideal for investors who need to act quickly to secure a property.
Why Choose KRA Private Mortgage Funding?
At KRA Private Mortgage Funding, we understand the unique challenges and opportunities associated with purchasing land. Our commitment to personalized service and flexible lending options makes us a top choice for those seeking land loans in Charleston, SC, and the surrounding areas. Here’s how we can help you:
- Customized Lending Plans: We create tailored lending plans that align with your specific needs, whether you’re purchasing raw land, improved land, or planning a construction project.
- Expert Guidance: Our knowledgeable team provides expert guidance throughout the loan process, helping you make informed decisions and secure the best terms.
- Fast Approvals: With our streamlined application process, you can expect quick approvals and funding, allowing you to act swiftly on opportunities.
- Local Expertise: Specializing in private mortgage loans in South Carolina and North Carolina, we have a deep understanding of the local markets and can provide insights and support tailored to your goals.
*If you complete an application, please e-mail it to kristi@kraprivatemortgage.com.*