My vacant land loans are designed for customers who have found a piece of property but may not be ready to build for several years or, who already own a piece of vacant land and wish to refinance it. Customers who want to buy vacant land and build within 12-18 months should consider our popular construction-permanent financing.

My vacant land loan products allow customers to buy the land at a great rate even if they are not ready to begin construction. The rate on our vacant land loans will commonly be fixed for the first three to five years giving customers ample time to plan for their new home. For vacant land purchases, we offer financing as high as 80%.

Land Loan Refinance

If you need better terms on an existing lot loan, we offer rate-term refinance programs. We can also help you tap into your lands built up equity with a cash-out refinance. Customers with credit issues wishing to refinance their land should ask about our portfolio loan.

Land Improvements Other Than a Dwelling

Existing land improvements such as a seawall, roadway, utilities, elevated site pad, dock or other site improvements may be given consideration by the appraiser in valuing the land.

Sometimes, a piece of land contains non-dwelling improvements such as a shed, barn, stables, trailer, etc. If the improvements cannot be classified as a residential dwelling or, commercial structure, the appraiser will tend to note them, their condition and focus on just the land and it’s value.

If the fixup, restoration or renovation of an existing structure on the land is a possibility, be sure and consider our rehabilitation loans to combine the purchase and estimated cost of repairs into a single loan.

Related Products:

Buyers of vacant land that will be ready to build within 12-18 months should consider our low cost construction to permanent financing to carry them through vacant land purchase, construction and into their new home with just one mortgage for the entire process!

Lot loans are available in the following states: Arizona, Florida, Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri and Wisconsin.