Residential Lot Loan


Father and daughter

Building strong roots starts with finding the right land.

Lot Loan Details

A residential lot loan, also known as a land loan, is used to purchase a piece of land for your future home. Purchasing a lot at today’s prices helps you start accumulating equity now and build your dream home when you are ready. When ready to build, a lot loan easily converts to a construction loan.
  • Land Loan Options
    • Option 1: Interest only payments for 12 or 24 month terms with a Fixed Rate
      • Subdivision lot loans require 25% down and rural lot loans require 35% down
    • Option 2: Principle and interest payments with a balloon payment at the end of the 3 or 5 year balloon options
      • Payments set up on a 15 year amortization schedule
      • Subdivision lot loans require 25% down and rural lot loans require 35% down