Land and Construction Loans

Whether you are building in 10 years or next month, once you have found the perfect 'forever' spot, you can't help but dream. We understand! If you don't want that opportunity to slip past, use our popular Land Loan to claim that spot.

Features

• Easy way to purchase the land if construction is not going to occur immediately.
• Loan to value (LTV) loan amount up to 75% on unimproved land and 80% on improved!
• Land loans can be a part of a Construction Loan if construction is imminent.

Loan Types & Terms

• Fixed Rate 10-year term.
• 3/30 Balloon.
  • This option provides a lower payment than the 10-year fixed rate term.
  • This is a good option of you are going to complete construction within 3 years.
  • At the end of 3 years, the remaining balance on the loan is due.

They say building a home is one of the more stressful homeowner experiences you can undertake. 'They' must have used someone else to finance it.

Features

• Draws advanced to the builder, as progress of construction is completed.
• 5% minimum down payment (land can be used as equity).
• Interest only payments during construction.
• Stick build or modular construction.
• 9 month construction period.
• Builder approval required.