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 Loan Purchase
Description Rate APR Points Disclosure
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:

  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

Go to main navigation