Vacant Land Loans
Our vacant land loans are designed for customers who have found a piece of Florida property but may not be ready to build for several years or, who already own a piece of vacant land in Florida and wish to refinance it. Customers who want to buy vacant land and build within 12-18 months should consider our popular construction-to-permanent financing.
Our vacant land loan products allow you to buy the land at a great rate even if you are not ready to begin construction. The rate on our vacant land loans will commonly be fixed for the first three to five years giving ample time to plan for a new home. Longer fixed rate periods of up to 30 years are also available. For purchases of waterfront vacant land, we offer financing as high as 100%.
For balloon loans, as the end of term approaches, the borrower can either pay-off the loan, refinance it or, take advantage of our construction loan financing to carry the borrower through home construction and into a permanent mortgage.
Vacant Land Loan Refinance
If you need better terms on an existing vacant land loan in Florida, we offer rate-term refinance programs.
Vacant Land Equity Loans
If you are ready to build, equity built up in your vacant lot through price appreciation and loan amortization can be used as downpayment for our construction loan financing.
Vacant Land Improvements Other Than a Dwelling
Existing land improvements such as a seawall, roadway, utilities, elevated site pad, dock or other site improvements may be given consideration by the appraiser in valuing the land.
Structures such as a shed, barn, stables, trailer, etc are not uncommon on vacant land. If the structures cannot be classified as a residential dwelling or, commercial structure, the appraiser will tend to note them, their condition and focus on just the land and it's value.
If the renovation of an existing structure on the land is a possibility, be sure and consider our rehabilitation loans to combine the purchase and estimated cost of repairs into a single loan.
Operational and near operational farms and ranches are commonly viewed as residential/commercial hybrids. Much will depend on how the appraisor perceives any existing non-dwelling structures, how they relate to the land and how the parcel relates to comparable sales in the area.
Commercial/Investment Vacant Land:
We offer financing on purchases of select commercial/invesment land and also refinance select commercial/investment property. For program details, contact one of our loan officers.
Related Vacant Land Loan Products:
Buyers of vacant land that will be ready to build within 12-18 months should consider our low cost construction to permanent financing to carry them through vacant land purchase, construction and into their new home with just one mortgage for the entire process!