When it comes to choosing where to build your future, the possibilities are endless. If you’ve decided that constructing a home on your dream piece of land is the right path for you—congratulations! A custom-built home offers the opportunity to design a space that perfectly fits your needs and vision. But once that big decision is made, a few more questions start to arise—where do you begin? What financing options are available? That’s where we come in.
A residential land loan is a great first step in making your dream home a reality. Many people confuse land loans with construction loans, but there’s a key difference: a land loan allows you to purchase a parcel of land now, with the flexibility to build in the future—whether that’s in a year or several years down the road. A construction loan, on the other hand, is designed for those ready to break ground immediately.
For many homeowners-to-be, securing a land loan first provides the benefit of paying down the principal on the land before starting construction. If this is the route you choose, our financial experts can help you finance your land purchase now and seamlessly transition your loan into a construction loan when you’re ready to build.
There are a few factors to keep in mind—such as residential land loans typically being limited to parcels 40 acres or less—but our team is here to guide you through the process and answer any questions along the way.
If you’re ready to take the first step toward securing your future home, click the button below to connect with our lending team today!