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Unimproved Property and Construction Loans

Land Loans

Whether you're interested in purchasing land as a long-term investment or you intend to build your new home there, EFCU can help provide the funds to get you there.

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Unimproved Property Loan Payment Calculator

Use our unimproved property loan payment calculator to determine how much you can afford.

 Frequently Asked Questions

Unimproved Property Loan FAQs

How soon will someone contact me after I have submitted my mortgage application?

Once you submit your mortgage loan application for review, EFCU will contact you within 24-48 hours, unless it is a weekend application.

How long does the loan process typically take?

EFCU strives to close all of our loans within 30-45 days.

What is the largest piece of land I can buy with a land loan?

EFCU has a limit on the amount of acreage that can be financed. That limit is 20 acres.

Will I need an appraisal?

There are some cases where we can use 100% of the tax assessment. Please call our office to see if this could be an option for your current situation.

Will I need a survey?

A survey is always required on our land loans. We will use an existing survey on the property if you have one. If you do not have one, a new survey will be ordered by EFCU during the loan process.

The property I am interested in purchasing with my land loan is within a flood zone. What does this mean?

Flood insurance is not required by EFCU on a land loan. However, additional insurance coverage could be required by your lender when you choose to build on the property.