Yes – we are still providing Land / Lot loans in 2021. Multiple products available, but see the qualifications below before inquiring.

Purchase or Refinancing for residential-zoned lot / land parcel intended for future construction of a primary or second / vacation home.

RESIDENTIAL land / lot financing meeting the following criteria:

• Minimum Land / Lot Price: $135,000 and up only.
• Size: For residential-zoned lots / land, up to 40.00 acres (conditions apply for parcels 10.01 – 40.00 acres). Parcels larger than 20 acres are case-by-case. Call or email for specifics.
• Minimum Down-Payment: 20% or more for land / lot purchase transactions, depending on several factors. Refinances require a minimum 30% equity to qualify. Call or email for parcel-specific down-payment / equity requirements.
• Credit Score / History:  720 is preferred, though we can accommodate credit scores as low as 620 with increased down-payment and/or reserves. No recent bankruptcy or foreclosure. Call or email for more info.
• Utilities: Financing requires availability of the following utilities at / in the street, or nearby in order to qualify:
  — Electricity
  — Public / city water (or private well report in some, but not all cases)
  — Public / city sewer (or percolation test report for private septic system)
• Existing Improvements: Typically, NO affixed, existing improvements (buildings, animal facilities, manufactured homes, garages / sheds, etc) regardless of condition are allowed. To qualify for land financing, the subject lot / land should be “vacant” (sometimes called “raw” land). Existing homes, buildings, or structures affixed to the land must usually be demolished or removed prior to closing unless eligible for case-by-case exception. A construction loan may be the better option for land with existing structural improvements. Call or email with questions or concerns.
• “Full Doc” Income and Asset Qualifying (traditional documentation is tax returns, income statements of W2, K-1, paystubs, bank and asset statements)
• NO “CASH-OUT” refinancing of lot / land (“rate / term” only). Call or email for residential land / lot refinancing requirements.
• No “Investment” or “Lot Next Door” financing. Eligible lot / land must be intended for future primary or second / vacation home construction.
• “Full Doc” Income and Asset Qualifying (traditional documentation is tax returns, income statements of W2, K-1, paystubs, bank and asset statements)
• AGRICULTURAL FARM land financing: Call or email for qualifying info
  
• DEVELOPER / BUILDER Lot / Land Financing: Call or email for qualifying info
  
• COMMERCIAL / INDUSTRIAL / OTHER Zoning: No bank financing. 50% LTV, $100k minimum loan amount, higher rate/cost and short-term only (24 months or less). Call or email for qualifying (925) 201 1874 

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