Want to learn more about land loan rates and fees? Contact us at 800-233-2328 ext. 5772. You can also make an appointment to speak with a BECU mortgage advisor.
If you are interested in buying land to build now or later, a land loan may be right for you. We can connect you with a mortgage advisor who will work with you to help determine the best financing options for your circumstances.
Land loans cover a range of options. If you're ready to purchase a lot, a land loan may be used to purchase improved and unimproved land.
An example would be:
- Improved land requires water and electricity run to the property. A sewer or an approved septic and well system must be on the property.
- Unimproved land could be undeveloped or missing a water, septic or sewer system. Whatever type of land you're looking to purchase, we can help you find the right type of loan option for you.
Features and Benefits
- Fixed-rate and ARM loan options are available.
- Parcels up to 20 acres. Purchase loan amounts up to $400,000 for improved land; $200,000 for unimproved land.
- Refinance loan amounts up to $100,000 for improved land.
- No origination fee.
- No prepayment penalty.
- A land loan can be paired with a construction loan so you can “buy now and build later” if your situation changes.