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

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