Step 1: Compare Land loan rates as low as:
Rates effective October 16, 2024
Term | Rate | APR* |
---|---|---|
5 Year | 6.00% | 6.64% |
10 Year | 6.25% | 6.60% |
15 Year | 6.25% | 6.50% |
|
*APR = Annual Percentage Rate. APR is calculated based on a loan amount of $100,000. Loan rates quoted are based on A+ credit rating. Actual rates will vary and are based on individual creditworthiness. Please call to verify listed rates and fees.
Step 3: Understand the Process and Benefits of a Land Loan.
The Pre-approval Process
The pre-approval process can vary greatly between land and property lenders. That's because these types of loans typically require a lot more information from you than a conventional loan. At DuGood, we make this process quick and easy for you.
The Appraisal Process
The time needed to complete this process is something land and property lenders can rarely control. A quality land appraisal can take between 3 to 4 weeks and should be very detailed to help establish the most accurate value of the land. However, this can vary depending on the size of the land, type of use, location, and market volume.
The Title Process
A land loan requires a title commitment and a title check to ensure ownership, and that there are no hidden liens against the title. If all information has been submitted correctly, the title process generally takes around a week or two.
benefits of a land loan
UP TO 80%
FINANCING
LOW CLOSING
COSTS
TERMS UP TO
15 YEARS
NO PRE-PAYMENT
PENALTIES
Pay by Mail
DuGood FCU
P.O. Box 12899
Beaumont, TX 77726
SEE WHAT OTHERS HAVE TO SAY
Meet Our Mortgage Team
Sandra Flanigan
Senior Mortgage Lender
(409) 726-2104
Email
Sandy Ferrell
Senior Mortgage Lender
(409) 726-2106
Email
Pauline Villarreal
Mortgage Lending Manager
(409) 726-2119
Email
Holly Clark
Mortgage Servicing Supervisor
(409) 726-2113
Email
Connie Tassin
Mortgage Loan Specialist
(409) 726-2111
Email
Charla Bailey
Mortgage Loan Specialist
(409) 726-2107
Email
Blake Worthey
Chief Lending Officer
(409) 241-2261
Email
Get answers to frequently asked questions
How much of a down payment is required on a land loan?
The required down payment is 20%
What terms are available on land loans?
We finance up to 15 years.
What financing option is best for me?
A shorter term payment plan is a good fit if you want to pay less in interest and save more money. But if a lower monthly payment is more important, a longer term payment plan might be the best fit for you.