Nationwide Construction Loans
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Which loan is right for me?
Years
in the house		 Recommended Program
1 - 3 3/1 ARM, 1year ARM or
6 month ARM
3 - 5 5/1 ARM
5 - 7 7/1 ARM
7 - 10 10/1 ARM, 30 year fixed or
15 year fixed

Land Loans

There usually is only one purpose in getting a land loan and that is to buy the land to eventually build a new home.

The only banks that provide land loans are banks that provide construction loans and even some of these banks will not provide land loans. Land loan terms usually range from 2, 5 to 20 year loan periods, amortized over 20 and 30 years.

Land loans are also available with interest only options. This can be very beneficial so the land payments are affordable while you are obtaining plans and permits to build your new home.

Buying land is like buying a expensive car that you cannot drive. Its very important to realize that a land loan should be thought of as a temporary loan. The land loan will be paid off with the construction loan once you are ready to apply for the construction loan. If you are not planning on building soon then you will want a land loan with a long term balloon payment.

Call me at (866) 211-3344 and I will help you in obtaining the best land loan available.

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STEP 1:
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It's easy! Just complete the form and our home building specialist will call or email you up to 4 different quotes from the top lenders.
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10 Construction Loans Misconceptions

A land purchase can easily be added into the construction loan.
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Construction loan rates are the same as all mortgages.
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You have to make a payment during construction.
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Construction loans are just as fast and easy to complete as any loan.
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Most banks allow owner builder.
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The largest lenders have the best rates and programs.
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No money down construction loans are easily available.
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All banks value construction loan projects the same way by appraised loan to value.
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Most loan officers are capable of providing a construction loan.
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Going directly to a bank is less expensive than working with a broker.
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