Build a Custom Home with a Lot Loan
Your big plans for a custom home require financing that can help you break ground sooner while saving you money. United Bank's lot loans are the answer.*
Lot Loan Overview
- Borrow up to 75% of the purchase price or appraised value, whichever is less, on approved building lots
- Features flexible rates and terms
You’ve found the ideal location for your new home. United Bank can help you finance it. Contact us today to learn how a lot loan can put you one step closer to securing your perfect piece of land.
What is a lot loan?
A lot loan is a short-term loan that can help you fund the purchase of land you are planning to build on. Unlike a construction loan which provides money for costs related to the actual building of a home, a lot loan is used specifically to buy an undeveloped piece of property in a residential area.
How does a United Bank lot loan work?
With a United Bank lot loan you can borrow up to 75% of the purchase price or appraised value of the land, whichever is less. The land must be an approved building lot zoned for residential construction. Our loans require a 25% minimum down payment and feature a variety of interest rates and terms to fit your financial requirements and budget.
Benefits of a United Bank lot loan
- Competitive rates and terms
- A convenient way to finance a lot for your primary residence or vacation home
- Step-by-step assistance from a United Bank lot loan specialist
Put the property you want within your financial reach. Contact United Bank today and inquire about a lot loan today. Let our team help you acquire the land you need for your next big move.
*Subject to credit approval.