Buy land now, build on it later
Lot and Land Loans
You've found the perfect plot—now it's time to finance it at Mountain America. Get started with our land loan calculator.
Limited-time offer
Apply for your home-grown home loan and receive a free appraisal, now until July 31, 2025.¹
With an easy, online application and one-on-one guidance, you’ll be home in no time!
Your dream home starts with the dream location
If you've found the ideal piece of land for your dream home, but you're not yet ready to break ground, Mountain America's lot loan is the solution for you. Our land-only financing is an easy and affordable way to purchase a residential lot or land suitable for the construction of your new home.
Lot and land loan features
- Up to 80% financing on approved credit*
- Fully amortizing fixed-rate and balloon options
- Easy online application process
- Easy conversion to a construction loan
- Up to two lot loans per member
Estimate Your Mortgage Payments*
Get your lot or land loan
Don't wait. Apply for your lot loan now by clicking the button below, or call 1-800-277-7703. If you still have questions, schedule an appointment with one of our mortgage specialists.
Apply nowLot loan FAQs
What are lot loans?
Building your dream home begins with finding the right location. A lot loan is money given to a borrower to buy the land for a primary or secondary residence. A lot loan is different from a construction loan in that the lot loan pays for the land the home will be built on, while the construction loan pays for the construction of the home itself. Use our land loan calculator to get started.
How does a lot loan work?
A lot loan is used to finance the purchase of land. They are typically short-term loans with higher down payments and interest rates.
How much is a down payment for a lot?
The down payment for a lot is anywhere from 20% to 50% of the purchase price. The down payment is usually higher for raw land, while the down payment is lower if the land is a lot where a home will be built.
Is it better to buy land or a house?
Both buying land and buying a home can be great investments. The better option depends on the needs and wants of the buyer.
Pros to buying a home
- Ability to move in right away
- Typically cheaper to buy
- More likely to find options close to downtown or in the city
Pros to buying land
- Ability to customize the home entirely to your liking
- Ability to create a more energy efficient home that is good for the environment
- A newer home may need less maintenance
How can I finance a lot loan?
The process to finance a lot loan is simple and affordable. We offer up to 80% financing on approved credit with fully amortizing fixed-rate and balloon options. We also offer easy conversion to a construction loan. Get started by filling out our easy online application.
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*Loans on approved credit. Actual APR based on creditworthiness. Information and interactive calculators are made available as self-help tools for independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regard to individual circumstances. All examples are hypothetical and are for illustrative purposes. Seek personalized advice from qualified professionals regarding all personal finance issues. Actual rate, payment and costs could be higher. The payment amount does not include homeowner's insurance or property taxes which must be paid in addition to your loan payment. Get an official loan estimate before choosing a loan. Some limitations on loan amounts may apply based on county limits and/or loan product. FHA county loan limits apply for FHA loans.
- Loans on approved credit. Membership required—based on eligibility. Free appraisal on new purchases and construction loans only. Not available on refinance loans. Cannot be combined with other offers. Limit one per household. Offer valid on applications received between 3/1/25 and 7/31/25 for loans that close no later than 8/31/25. Limited-time offer. Offer can change or be withdrawn at any time.
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