Green Logo

Vacant Land Loans

Michigan Vacant Land

Vacant Land Loans are designed for borrowers that want to refinance or purchase parcels of property or real estate that have unimproved land or raw land.

Land can come in many forms and varies from property to property. Many people that buy land in Michigan use the property for hunting land or recreational land while other get vacant land loans to buy a piece of real estate to build their dream home.

Mortgage Programs for Vacant Land and Property loans

Getting a loan to buy vacant land and property

Getting a loan for vacant land in Michigan can be difficult because most banks and lenders do not have mortgage options that can finance raw land.

To get a conventional mortgage there must be a home that meets Fannie Mae or Freddie Mac's guidelines for housing. These guidelines state that there must be a livable home one the property to secure the loan. This does not allow for land financing for a conventional mortgage.

Our vacant land loan product allows you to buy property with little restrictions on usage and requirements. With only a 20% down payment, you may be able lock in a 30 year fixed rate with low payments.

Whether there is a home or outbuildings on the property or not, a vacant land loan may be an option for you to get money to buy the land.