- Loan program for the purchase of improved real estate as a future home site.
- Maximum loan-to-value 75%.
- Maximum lot size is 20 acres.
- Five year maturity (due and payable); amortized over 20 years.
- Fixed rate loan--no prepayment penalty.
- No gifted funds / secondary financing not permitted.
- One lot loan per customer—must have recorded road access to property.
- Site improvements include water, power accessible to property, road access and copy of soils 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.
NOTE: All terms and conditions are subject to change without notice.
Need more information? Contact our Mortgage Loan Officers to discuss your options and let us help guide you through this process.