Bare Land/Lot FAQs

Can you do cash out refinances on bare land/lot loans?

We can refinance rate and term refinance only on the bare land/lot loan program.

What is your minimum credit score for your programs?

Minimum credit score required is 620 for the bare land/lot loan program.

What is your maximum loan to value on your programs?

Maximum loan to value is 75% with a 25 year loan term

What are your current interest rates?

Please contact us for our current interest rates.

What is your minimum loan amount?

Our minimum loan amount is $50,000.

How long do you have to build a residence?

You must have the intent to build a single-family primary residence sometime during the life of the loan.

Can you loan on a lot in a large city?

The bare land/lot must be located in a rural area or town with a population of 2,500 or less.

Can you loan on bare land/lots that will be used to build a second home?

If you are currently a full-time farmer, we can loan on bare land/lots that will be used to build a second home.

Can bare land/lots be financed with the purpose of developing the property or using it for investment purposes?

No, the intent for the property must be to build a single-family, primary residence on the property.

Does there have to be farming activity on the property?

If the bare land/lot is valued at over $121,100, there must be the intent to build a single-family, primary residence as well as the intent to generate $500 of gross agricultural income per year.

Is there a limit on acreage?

There is no limit on acreage.

Can the property be used for recreational purposes?

Yes, only if there is the intent to build a single-family primary residence on the property.