If you are thinking of building a new home and need a place to finance the property, your credit union can help. We offer lot acquisition loans with easy terms and low fees to assist you in reaching your dream!
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Requirements:
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You must be credit union member.
Your lot must be approved residential zoning.
You must purchase your land with the intention to build a home, or combine the land with your existing home.
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| Benefits to You : |
Your credit union will loan up to 80% of the purchase price or appraised value (whichever is less).
You are able to take time to pay off your lot, which could serve as your down payment when you are ready to build! Our lot loans come with a maximum term of 5 years, or a 5-year balloon with 10 year amortization.
You receive simple interest on this loan with no pre-payment penalties. |
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Need advice, have a question, or want to open an account?
Call or email
The Link
574.294.6553, opt 5
800.645.3732, opt 5
memserv@inovafcu.org
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