Land Loans: lot or bare land
Choose the land you want to build a home on. 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. Save thousands with low fees.
Features of a Land Loan
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Finance up to 80% of the value of the land. Minimum down payment is 20%
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15 year term
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Local decisions
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Fixed interest rate, fully amortizing
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No pre-payment penalty for early payoff
A Land Loan is ideal if you want:
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To buy a piece of property to build a dream home
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A fixed interest rate
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To build equity for future construction
The kinds of land we finance
We offer land loans to purchase two kinds of property:
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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.
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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
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$500 off lender fees. The $500 reduction of lenders fees is valid for 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.
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Rate incentives — Available when you follow up your Land Loan with a residential Construction Loan from Oregon State Credit Union. Contact us for details.
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 541-714-4000 or apply online. We’re happy to help you learn more about land loans, answer questions and talk about your land purchase options.
Apply here | Land loan at Oregon State Credit Union
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