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Lot/Land Loan Requirements and Terms

What are the requirements for a Lot/Land Loan and what terms are offered?

Eligible Properties

A residential buildable lot or land not to exceed fifteen (15) contiguous acres

Ineligible Properties

Investment, commercial or working farm properties
Properties with existing structures or slabs

Loan Amount and Rates

The maximum loan amount will be no greater than 80% of the purchase price.

Purpose of the Loan

Proceeds of the loan may be used for purchase of the lot/land.

Terms of Loan

Maximum of 10 years
Minimum of 5 years

Documentation required to review and process the loan

Signed statement of intent to build a primary, secondary or vacation/seasonal residence on the on property within 10 years.
Income, asset, and credit documentation
Appraisal
Copy of signed sales contract
Additional tests may be required if public water and utilities are not present at time of financing.

To verify if we lend in the state where the property is located, view our FAQs about Applying for a Mortgage.

Visit our Land Lot Loan page to learn more. If you are ready to apply, view our Delta Community Home Loan Team to choose a Home Loan Specialist serving the area most convenient to you, or call us at 866-963-7811.

Lot/Land Loan Requirements and Terms

What are the requirements for a Lot/Land Loan and what terms are offered?

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EHL

Equal Housing Lender

NCUA

National Credit Union Administration, a U.S. Government Agency