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.

Apply or learn more about land loans

Apply here | Land loan 

Talk to a mortgage loan officer

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.

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.

Apply here | Land loan at Oregon State Credit Union


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