Land Loans

Land or Lot Purchases

Are you looking to invest in land? Or do you have a lot ready to build your new home?  

Our lending team can walk you through the intricacies of a land or lot purchase, and help you find the best options for your desired property. Typical aspects of land or lot purchases include:  

  • Improved real estate as a future home site 
  • Fixed rate loans with no prepayment penalties 
  • Secondary financing and/or gifted funds are not permitted
  • Site improvements include water, power accessible to property, road access and copy of soil analysis that was completed within the last 5 years, plus perk test 
  • Property value for determining financing amount is based on the purchase price or appraised value, whichever is less 


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Need more information? Contact our Mortgage Loan Officers to discuss your options and let us help guide you through this process.


Land Loans Rates

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Loan Term Interest Rate APR Discount Points Ex: Loan Amount Ex: Monthly Payment
20 Year Fixed Rate Land Purchase (20yr / 5yr balloon) 9.000% 9.150% 0.000 $140,000 $1,259.62

Interest Rates Effective: 6/14/2024

Rates listed are for an improved land purchase with a 30% down payment and borrower credit score of 740.  After first 5 years, remaining outstanding principal balance would be a balloon payment of $118,115.27 which could be paid in full or refinanced. APR (Annual Percentage Rate) is based on loan amount and interest rate. Example monthly payments quoted include principal and interest only. Actual payments may be higher if they include taxes and insurance. Rate, terms and fees are subject to change without notice. Subject to credit approval. Ask us about additional available loan programs.

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