Lot and Land Loans Rates
Residential Lots – 10 or 15 Year Term
(Vacant, unimproved land for residential purposes)
Example below, APR* based on $100,000 loan amount, 80% LTV.
|Mortgage Term||Interest Rate
(with .25% automatic payment discount)
(no origination or discount points)
(combined loan to value)
(There may be additional closing costs)
(Includes points, fees and interest)
- Maximum loan amount is 80% of appraised value; minimum loan amount is $10,000.
- Property must be vacant, unimproved land for residential use only, acreage size is limited.
- No building or structures allowed on land at time of closing.
- Must be located within any of the 50 states of the USA.
- Escrow account is not required or available. An optional Mortgage Savings Club Account may be set up.
- Weekly, bi-weekly, semi-monthly, or monthly payment plans are available in conjunction with an automatic payment such as payroll deduction, direct deposit, and automatic transfer.
- Servicing of loan will be retained by First Florida Credit Union and not transferred.
- Credit and other qualifications apply for loan approval.
*APR – Annual Percentage Rate