Other Real Estate Loans

Commercial Loans

Are you in the market to purchase a commercial income property? Refinance your commercial loan? Draw available equity from an income-producing commercial property anywhere in the USA? Restructure existing commercial debt? Have a commercial loan maturing?

We specialize primarily in loans for INCOME PRODUCING PROPERTY in CA and the Western U.S. Loan amounts in California from $100,000. Loans outside of CA from $500,000+.

  • Apartment Buildings
  • Senior Living Centers
  • Office and Medical Buildings
  • Multi-Unit Retail
  • Mixed-Use properties
  • Storage Units
  • Mobile Home Parks
  • Hotel & Motel, Resorts

Occassionally, we arrange financing for other specialty properties, but mostly in CA and the western U.S.

  • Industrial
  • Warehouses
  • Gas Stations
  • Laundromats, Dry Cleaners, Car Washes
  • RV parks

We provide up to 90% commercial financing nationwide with the U.S. government-insured SBA (Small Business Administration) 504 and 7(a) loans for owner-occupied commercial property purchases.

For commercial property loans,
call me direct at 1-800-644-8829.



"John has done two very difficult loans for me now -- one on my apartment building and another on this recent investment property. The sellers we had to deal with for the purchases were very difficult and did nothing to make the process easy. John was always there, doing things in the background to make sure the transactions were closed. I would recommend him to anyone who needs a real advocate for obtaining a loan."
~ Teena C., Hawthorne, California

California residential lot and land loans

Residential Lot Loans (no cash-out on land allowed)
Financing for the purchase or rate/term refinancing of California residential lot / land for future construction of an owner-occupied, primary residence. See our land loan restrictions.

10-ACRE PARCELS OR LESS QUALIFY FOR THIS PROGRAM

11-20 - ACRES MUST HAVE COMPARABLE SALES OF SAME-SIZE LOTS WITHIN THE IMMEDIATE AREA WITHIN 12 MONTHS -- more than 10 acres will NOT qualify without recent, close-in comparable sales.

NO 20-ACRE OR LARGER PARCELS ALLOWED -- we do NOT offer financing for 20+ acre parcels.


Residential Lot Purchase
(intended for future primary residence)
*
3/1 ARM loan, fixed for 3 years, adjustable annually thereafter, 30-year repayment schedule. (Index is 1-year Treasury plus 3.25% margin after first 3 years. Floor is start rate.)

Sale Price and Max Loan Amounts, Down Payment

When the subject lot has PUBLIC / CITY water and/or sewer to the property line:

20% down payment with sale price from $100,000 up to $375,000 and loan amount from $80,000 to $300,000 (80% LTV to max $300,000 loan amount)

25% down payment with sale price up to $533,333 and max loan amount of $400,000 (75% LTV to max $400,000 loan amount)

30% down payment with sale price up to $714,285 and max loan amount of $500,000 (70% LTV to max $500,000 loan amount)

35% down payment with sale price up to $1,538,460 and max loan amount of $1,000,000 (65% LTV to max $1,000,000 loan amount)

CALL for lot loans over $1.0M

For LOTS / LAND on BOTH well water AND septic, OR for "rural" property outside of incorporated areas, reduce the above loan-to-value limits by 5.00% -- you will need an additional 5.00% down payment.

THERE CAN BE NO VERTICAL IMPROVEMENTS ON THE SUBJECT PROPERTY. This means no structures of any type or condition on a foundation that can't be picked up and hauled away. No barns, no equestrian facilities, no tear-down homes, no manufactured homes, no out-buildings of any type. Only a bare foundation is acceptable.

* Minimum lot loan amount: $80,000 (minimum sale price of $100,000)
* 1st Trust Deed lien position only -- no seller or secondary financing
* Lot must be zoned / allow for Residential use -- no working farms, commercial property, improved property, or off-grid (solar).
* CALIFORNIA residential lots only
* No prepayment penalty
* Full income documentation required
* Minimum 700 qualifying credit score and 45% qualifying debt ratio
* Minimum 720 qualifying credit score and 50% qualifying debt ratio
* * Other conditions, terms, and restrictions apply

Residential Lot Refinance
NO CASH OUT ON LOT LOANS. WE DO NOT OFFER CASH-OUT ON LOTS OR LAND. Refinance at current balance or less only, must be intended for primary residence
* 3/1 ARM loan, fixed for 3 years, adjustable annually thereafter, 30-year repayment schedule. (Index is 1-year Treasury plus 3.25% margin after first 3 years. Floor is start rate.)

Sale Price and Max Loan Amounts, Down Payment

When the subject lot has PUBLIC / CITY water and/or sewer to the property line:

20% equity with value from $100,000 up to $375,000 and max loan amount from $80,000 to $300,000 (80% LTV to max $300,000 loan amount)

25% equity with value up to $533,333 and max loan amount of $400,000 (75% LTV to max $400,000 loan amount)

30% equity with value up to $714,285 and max loan amount of $500,000 (70% LTV to max $500,000 loan amount)

35% equity with value up to $1,538,460 and max loan amount of $1,000,000 (65% LTV to max $1,000,000 loan amount)

CALL for lot / land refinance loans over $1.0M

For LOTS / LAND on BOTH well water AND septic, OR for "rural" property outside of incorporated areas, reduce the above loan-to-value limits by 5.00% -- you will need an additional 5.00% down payment.

THERE CAN BE NO VERTICAL IMPROVEMENTS ON THE SUBJECT PROPERTY. This means no structures of any type or condition on a foundation that can't be picked up and hauled away. No barns, no equestrian facilities, no tear-down homes, no manufactured homes, no out-buildings of any type. Only a bare foundation is acceptable.

* Minimum lot loan amount: $80,000 (minimum value of $100,000)
* 1st Trust Deed lien position only -- no seller or secondary financing
* Lot must be zoned / allow for Residential use -- no working farms, commercial property, improved property, or off-grid (solar).
* CALIFORNIA residential lots only
* No prepayment penalty
* Full income documentation required
* Minimum 700 qualifying credit score and 45% qualifying debt ratio
* Minimum 720 qualifying credit score and 50% qualifying debt ratio
* * Other conditions, terms, and restrictions apply

Commercial Lot Loans (CA ONLY)
Commercial lot loans
* Up To 100% LTV purchase and rate/term refinance with additional collateral pledged and strong financials
* Commercial zoning, or intended for residential spec tract development
* Requires 620+ credit score and documented income
* Minimum $400,000 loan amount 
* Cannot offer more cash-out than the owner's vested cash equity
* 15-year amortized, fixed-rate term
I* Flexible structuring
* Fast closings, no junk fees

Restrictions on residential lot and land loans:

a) No loan broker submissions
b) 11-20 - ACRES MUST HAVE COMPARABLE SALES OF SAME-SIZE LOTS WITHIN THE IMMEDIATE AREA AND WITHIN 12 MONTHS -- more than 10 acres will NOT qualify without recent, close-in comparable sales. NO 20-ACRE OR LARGER PARCELS ALLOWED -- we do NOT offer financing for 20+ acre parcels.
c) Subject property cannot have any vertical improvements of any type unless not on a foundation and can be hauled away.
d) Loans on non-entitled / partial-entitled land for residential or commercial development are case-by-case and are limited to the commercial land loan program 

For residential lot loans in California,
call me direct at 1-800-644-8829.

New Construction Loans (California)


Available residential construction loans include:

"One-Time-Close Construction" loans, "Construction-to-Perm" loans. For California residential construction loans, we offer a few options:

Residential Ground-Up Construction Loans for borrowers using an outside contractor to build a primary, second/vacation home.

"Home Improvement Loans" require a minimum $100,000 in improvement cost and are qualified and treated the same as a ground-up construction loan with the same ARM terms, costs, etc. Our home improvement bank loan is a 1st loan only. If you have substantial equity in the property as-is you should consider a standard Home Equity Line of Credit instead of a construction loan, since the cost will be lower and the process easier.

NO INVESTMENT PROPERTY OR "SPEC" CONSTRUCTION BANK FINANCED TRANSACTIONS. Investment / Spec construction financing is HARD MONEY only.

"Construction-To-Perm" Loan
If you already own your lot and have approved plans and a contract with your builder you'll need a construction--to-perm loan in most cases. A construction-to-perm loan is a combination of two loans -- one for the construction of the home followed by permanent financing when the construction is completed. You'll need a minimum 20% or more cash equity in the total project cost to qualify. Owner-Builders are allowed for primary residence construction only, provided the majority of income received is from general contractor activity. Otherwise, licensed builders with an operational general contracting company and good credit is required.

"One Time Close" Construction Loan 
For those who have approved plans and a contract with a builder but have not yet purchased a lot, a One-Time-Close construction loan allows you to combine the lot purchase, construction, and permanent financing into one loan -- saving you thousands of dollars in costs versus multiple loans. The down payment required will be based on a percentage of cost-to-build, depending on the amount.

Private Money Jumbo Construction Loan 
We offer hard money jumbo construction loans over $1 million dollars, provided there is a minimum 30% documented cash equity vested in the project based on total cost, and the loan caps at 65% of finished value. Decent credit and a viable exit strategy required. Call for more info.

 

For construction loans in California,
call me direct at 1-800-644-8829.

Construction Loans

 

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This website is owned by John J. Harambasic (Agent, BRE Lic #01329768, NMLS ID #281276) at Augusta Financial Inc. This is not the official website of Augusta Financial Inc. Augusta Financial Inc is licensed by the California Bureau of Real Estate, Real Estate Broker ID #01212262, NMLS ID #241911 and is licensed to provide residential mortgage loans for California real estate. Commercial loans available nationwide. | See our Privacy Policy | Disclosures | Where We Loan
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