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Home lot loans for the perfect piece of land

Building your dream home starts with the perfect lot. Let us help you with the financing, while you finalize your house plans.

Overview

Rates as low as 6.000%/8.019% APR¹

If you’ve found a great residential lot, our home lot loan is the perfect solution to secure the land financing even when you’re not quite ready to build yet. You can finance land up to 80% of the market value and make affordable payments for the next five years, giving you time to plan for your dream home.

Affordable payments
Fixed rate
Financing up to 80%
Once you’re ready to build, our mortgage specialists can take care of the necessary steps to convert your home lot loan into a construction loan. Find a mortgage specialist or request a free consultation

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Features

Learn about financing land with Lot Loans from MIDFLORIDA Credit Union

  • Fixed or adjustable rate loans
  • Down payment as low as 20% for fixed rate loans2, and 35% for adjustable rate loans¹
  • Fixed year payments calculated using up to 20-year amortization, with a 5-year balloon payment while adjustable rate payments are amortized over 15 years.

Homeowners Insurance

Are you covered?

Protect your home inside and out. Compare multiple carriers to find the best deal available. Insurance products provided by MIDFLORIDA Insurance Services, LLC. Lic. #L084232
Notices & Disclosures
1
MIDFLORIDA Credit Union membership, eligibility, and credit approval required, 6.000% is a 1-year promotional rate. Payment example: Based on a minimum credit score of 700, a 1-year adjustable rate vacant land loan for $100,000 with a minimum 35% down at 6.000% interest rate and an Annual Percentage Rate (APR) of 8.019%. The monthly principal and interest payments are $843.86 during the first 12 months. The interest rate may adjust once every 12 months thereafter, based on the 1-year US Treasury Bill rate (5.160% as of May 16, 2024) plus a margin of 2.75%, with a maximum interest increase of 4% over the rate at closing. The monthly payment amount after the first adjustment based on current rates will be $895.72 and the highest possible monthly payment during the life of the loan could be $1,041.00. Promotional Rate and margin may vary based on credit history and underwriting guidelines. Advertised terms are valid as of May 16, 2024, and subject to change without notice. Other conditions apply. Ask your mortgage loan officer for details
2
MIDFLORIDA Credit Union membership, eligibility, and credit approval required. Payment example: Based on a credit score of 700, a fixed rate residential lot loan for $100,000, amortized over 20 years, with 20% down at 8.000% and an Annual Percentage Rate (APR) of 8.760%, has a monthly payment of $836.44, with a balloon payment due after 5 years of $88,362.01. Advertised terms are valid as of May 16, 2024, and subject to change without notice. Minimum credit score 680. Other conditions apply. Ask your mortgage loan officer for details.