Hard Money for Land - Why don't I just go to the local bank?

Let's start with a few definitions:

Land: Any type of land. A lot, acreage, a subdivision, farm ground, land is anything that doesn't have a building or structure on it.

Land is NOT to be confused with a house, a commercial building, a business property etc.

OK - that was pretty easy. Let's continue...

If you are trying to get a loan for the purchase or refinance of land, then the first thing you need to do is to call your local bank and simply ask them if they CAN make a land loan. Many banks cannot or will not make a loan against plain land. Why? I do not know.

If you can find a local bank willing and able to make a loan against your land, then my recommendation is to take it. My money will probably be more expensive to you than the banks money.

The bad news is that IF you can find a bank able to make a land loan, they will take forever to actually close the loan.

The reason Hard Money Land lenders exist is because of the void in bank lenders for land...