Lot and Land Loans

Lots are most easily defined as land parcels within a subdivision. Usually this means that water, power, sewer/septic, roads, and other amenities are available to the lot owner or buyer.

Land is most easily defined as as land not located in an established subdivision; in many cases with substantial acreage. The availability of the amenities listed above can affect the availability of financing for the property.

Mortgage Loans for these properties are readily available for Purchase and Refinance transactions, dependent on the specific details of the property. Usually these are short term ( 1-5 year ) loans that may be fixed or adjustable. Longer term loans are available on a case-by-case basis.

Primary Residence, Second-home, and Vacation properties typically have low down-payment requirements, flexible underwriting (Stated Income and No Income Verification programs), and competitive rates. Current guidelines are:
              5% Down to $400,000
            10% Down to $500,000
            20% Down to $750,000
            Maximum to  $6,000,000  

Investment and Spec Builder Loans are available for speculative construction and investors who do not plan to build a primary or secondary residence. The down-payment, rates, and terms vary on a case-by-case basis.

Development Loans are available for the conversion of land to subdivision lots. The primary purpose of these loans is to fund the acquisition and development of the property, including water, power, sewer/septic, streets, and all other amenities included in the master plan.

Lot, Land, Construction Cost Savings- For any lot or land purchase loan we close, the loan origination fee will be credited to the customer when we close a construction loan on the same property.

Mountain Mortgage Centers are specialists in obtaining the best available financing for each client by representing the leading banks and financial institutions with mortgage loans tailored to their needs. Contact Us for specific loan options for your transaction.