Colonial Funding Group is a direct buyer of notes and contracts secured by land in one or more subdivisions. These can be purchased on an individual one-on-one basis or through our standard portfolio division. We can also offer a unique program that was designed especially for land developers. This specialized land note portfolio program was designed for the developer that carries back a first lien in order to provide financing on residential or mobile home lots and is looking for a way to raise capital.
If you are interested in receiving preliminary pricing we request that you provide the following information:
- General Memo about the Development
- Spreadsheet of the Accounts
- Plat Map
- Deed Restrictions, if any
- Sample Loan File
We review this information and provide a price based on the attributes of the loan portfolio. These include interest rate, buyer’s credit, payment history, seasoning, loan balance, and loan to value ratios.