Land Loans: lot or bare land

Our Land Loans give you the opportunity to choose the land you want to build a home on, but we don't require you to build in any set amount of time, giving you the flexibility to plan and build your dream home when you're ready.

Apply here for a Land Loan

Apply here | Land loan 

Talk to a mortgage loan officer

Check our Land Loan rates

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

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

The kinds of land we finance

We offer land loans to purchase two kinds of property, with easy online application:

  1. Building lots — 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.

  2. Bare Land — Defined as 1-10 acres with basic improvements and utilities; septic system and drain fields. Meant for residential use only.

Land Loan special offers

  1. Get a $500 reduction off lender fees if you're a premier member. 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.

  2. Rate incentives — Available when you follow up your Land Loan with a residential Construction Loan from Oregon State Credit Union. Details available on request. Contact us today.

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.

Apply here | Land loan at Oregon State Credit Union


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