Lot Loans
Location, location, location! Once you find it, lock it in with a lot loan.:
Whether you’re planning to build, or using the land for recreation, FNC Bank offers competitive lot loans to get you started on your journey!
5.99%*
Only 10% Down
Lot Loans are 3/1 Adjustable Rate Mortgage (ARM) Loans. Rate is fixed for the first three years with variable rates each year after for the duration of the loan. These loans have a 10-year term based on a 20-year amortization rate.
Contact a mortgage lender for more information, or apply now and someone will reach out to you shortly.
*5.99% Rate has an Annual Percentage Rate (APR) of 7.537%. Good for lots under 10 acres. Purchase money only.
**APR based on $50,000 loan amount. 10 year balloon feature. Adjustments are calculated by adding 3.50% to the Current Index. Current Index is the weekly average yield on the US Treasury securities adjusted to a constant maturity of one year. Adjustments are limited to 2.00% points per adjustment with a rate cap of 6.0% above the initial/floor rate.
Land loans over 10 acres have a rate of 6.99% (APR) of 8.01% and require 20% down payment. Refinance or purchase transactions available.
**APR based on $100,000 loan amount. 10 year balloon feature. Adjustments are calculated by adding 3.50% to the Current Index. Current Index is the weekly average yield on the US Treasury securities adjusted to a constant maturity of one year. Adjustments are limited to 2.00% points per adjustment with a rate cap of 6.0% above the initial/floor rate.
**APR based on $100,000 loan amount. 10 year balloon feature. Adjustments are calculated by adding 3.50% to the Current Index. Current Index is the weekly average yield on the US Treasury securities adjusted to a constant maturity of one year. Adjustments are limited to 2.00% points per adjustment with a rate cap of 6.0% above the initial/floor rate.
Rates effective as of 12/07/22, are subject to change, and can be discontinued without notice. Loans are conditional on credit approval and completed appraisal. Lot/ARM loans are subject to a 0.5% origination fee.
For current rates and payment examples, please visit our Mortgage Rate Webpage.