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
Need more information? Contact our Mortgage Loan Officers to discuss your options and let us help guide you through this process.
Land Loans RatesApply Now
|Loan Term||Interest Rate||APR||Discount Points||Ex: Loan Amount||Ex: Monthly Payment|
|20 Year Fixed Rate Land Purchase (20yr / 5yr balloon)||7.750%||7.958%||0.500||$140,000||$1,149.33|
Interest Rates Effective: 11/23/2022
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