Our mission is to turn the complex into the practical. Land mortgages are, perhaps, the most complex mortgage product in today’s financial market, mainly because every transaction tends to be unique and different.
Woodmere Land has organized the process into four clear assessments to make it both understandable and manageable. It is this approach which defines our service.
Assessment of Project Viability
This assessment is exactly what you would expect. We review your information to determine the viability of the project, and ensure the effective exit from the mortgage at the end of the term. Our mortgage terms range from 1 to 10 years.
Valuation of the Land
In this task, we review your appraisal, along with our own valuation, in support of the mortgage transaction you wish to undertake.
Review of Mortgage Payment Arrangements
In your application, you will present the mortgage transaction you wish to undertake, along with your proposed mortgage payment and cash flow arrangements. We focus on the strength and reliability of this proposal.
Perfecting the Collateral
While this is sometimes the most complex area to address, we are usually able to design the transaction structure to provide an effective collateral arrangement. Flexibility, and the drive to make your transaction succeed, are the forces which allow us to make your mortgage happen.
It should be noted that our mortgage transactions range between $500,000 and $5 million, and mortgage rates are entirely dependent upon the project. We reserve the right to levy an application processing fee to mitigate the processing costs of these applications if we feel it is necessary.
