Lot Loans                                                                                                                             

Lot loans are available if you are not planning to build immediately. We offer several convenient programs depending on your needs. A balloon option allows  2-5 years to begin construction, a fixed rate product is amortized over 30 years to keep the payment low. We also offer an adjustable rate product which has no prepayment if you convert to our construction/perm program. Programs are available as fully documented or stated income documentation for individuals with difficult to document income situations.

Down payment requirements vary by program and documentation preferences but lot loans will generally require a 20% down payment with one of our lenders now offering a lot loan with 10% down.

If you are not ready to build but have found the perfect lot. The new Purchase Plus Lot Loan can save you a great deal of money.

Please send me an email and let me know what you are trying to do and I will send you a good faith estimate for several programs which will meet your needs.

Lot size must conform to the general area and must be residential in nature. Improvements are required and include a legally accessible street with sewer. Electricity must be available and hillside lots are generally not acceptable.  We do not make loans for working farms or for lots of more than 25 acres at this time.