Lot Acquisition Loans
Acquiring a lot for your dream home is a phone call away!
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!
- 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.
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.
"I have found banking with INOVA FCU to be a hassle-free experience. Even though I am not in a town with a local branch, my on-line account allows me to handle most of my transactions without leaving home."Fishers, IN