Land Loan: lot or bare land
If you are currently an Oregon State Credit Union member or you live or work in Oregon, you are elegible for a land land. Our land loans are for the purpose of eventually building an owner-occupied residence. We do not require you to build in any set amount of time, therefore you have the flexibility to plan and build your dream home.
A land loan is perfect if you want:
- To buy a piece of property to build a dream home
- A fixed interest rate
- To build equity for future construction
Apply or learn more
|Land Building Lot||8.125%||8.365%||1%||Disclosure|
|Land unimproved Property||9.125%||9.373%||1%||Disclosure|
The kinds of land we finance
We offer land loans to purchase two kinds of property, with easy online application:
Defined as a lot within city limits that has immediate access to public utilities; streets, gutters and sidewalks in place. Meant for residential use only.
Defined as 1-10 acres with basic improvements and utilities; septic system and drain fields. Meant for residential use only.
Features of a land loan
- Finance up to 80% of the value of the land
- 15 year term
- Local decisions
- Fixed interest rate, fully amortizing
- Minimum down payment is 20%
- No pre-payment penalty for early payoff
For our Premier Members
We offer a $500 reduction off lenders fees for our premier members. This offer is not valid for Short Term Second Lien Home Equity Loans. See a Mortgage Loan Officer for further details on how to qualify for Premier Membership.
Here's an example of Land loan terms
Loan example: On a 15-year land loan of $180,000 and an estimated property value of $240,000 at 5.15% APR (interest rate 5.00%), monthly payments would be $1,423.43. Rate is based on specific product type. All loans subject to approval.
Apply now for a loan to buy land
Call us at 800-732-0173 or apply online. We’re happy to help you learn more about land loans, answer questions and talk about your options.
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