Residential Loans for Lots
Building strong roots starts with finding the right land.
Security Federal Bank offers residential lot loans to help you secure the perfect plot for your dream home or investment. Our land loans are designed to provide flexibility and competitive rates, ensuring you can bring your vision to life. Whether you're planning to build your primary residence or invest in a residential development, our residential land loan options are here to support your goals.
Build Equity in Your Land
Converts to a Construction Loan
Competitive Rates and Flexible Terms
Lot Loan Details
A residential lot loan, also known as a land loan, is used to purchase a piece of land for your future home. Purchasing a lot at today’s prices helps you start accumulating equity now and build your dream home when you are ready. When ready to build, a lot loan easily converts to a construction loan.
- Land Loan Options
- Option 1: Interest only payments for 12 or 24 month terms with a Fixed Rate
- Subdivision lot loans require 25% down and rural lot loans require 35% down
- Option 2: Principle and interest payments with a balloon payment at the end of the 3 or 5 year balloon options
- Payments set up on a 15 year amortization schedule
- Subdivision lot loans require 25% down and rural lot loans require 35% down
- Option 1: Interest only payments for 12 or 24 month terms with a Fixed Rate
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