Lock in your land before someone else does.
A land loan lets you secure the lot you want now without committing to a construction timeline. Firefighters First Credit Union offers land loans in 14 states with straightforward terms and a team that understands how firefighters plan for their futures.
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15-year fixed rate -
Loans up to $300,000
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Maximum 65% loan-to-value
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Available in 14 states
Build your legacy with 15-year fixed land loans.
Secure the land you’ve been eyeing with a fixed rate that stays steady for the life of your loan. Our 15-year land loans give you a reliable path to owning the ground beneath their future.
Four things to know before you buy the land.
Buying land is not like buying a home. There are no disclosures to guide you and no previous owner to ask. Here is what to investigate carefully before you close on a lot.
Know exactly what you are buying before you close.
A soil test reveals drainage issues that can complicate foundation and septic work. A land survey confirms exact boundary lines and identifies encroachments or unrecorded easements. Both are critical steps before closing.
Factor in the cost of making the land build ready.
Not all land is ready to build on. Some lots need roads, utilities or water connections first. Know what improvements are required and factor those costs into your budget before making an offer.
Confirm what you can and cannot build on the lot.
Local zoning regulations may restrict what you can build, how large it can be or how close to the property line you can build. Check with the local municipality before you buy to confirm the lot fits your vision.
Check for rules and restrictions before you buy.
Easements give other parties legal rights to your property. Subdivision covenants may restrict style, setbacks and parking. Review all restrictions before closing to confirm they align with your vision.
Where land loans are available.
Land loans are currently available in Arizona, California, Colorado, Florida, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Tennessee, Texas, Utah and Washington.
If your state is not listed, reach out to us so we can discuss what options may be available to you.
The path from land to home.
A land loan is often the first step in a longer journey. Here’s how it typically connects to the rest of the homebuilding process.
Secure the land.
Purchase your lot and lock in the location you want to build on.
Plan your build.
Develop plans, pricing and a timeline with your licensed builder.
Finance the build.
Finance your construction phase and permanent mortgage in a single close.
Move in.
When construction wraps up, your loan converts to a permanent mortgage.
Start your land loan with confidence.
Take the first step to understand more about our land loans. Apply today and move forward with clarity, speed and support at every stage.
Everything you need to know about land loans.
What is a land loan and how is it different from a mortgage?
A land loan is used to purchase a vacant lot or parcel of land rather than an existing home. Because land has no structure on it, lenders consider it higher risk than a standard mortgage, which is why land loans typically carry shorter terms, higher rates and lower maximum loan-to-value ratios. Our land loan is a 15-year fixed-rate product with a maximum LTV of 65%.
Is there a timeline to build after I take out a land loan?
No. A land loan allows you to purchase the lot without a commitment to begin construction by a certain date. You can hold the land and build when you’re ready.
What is the maximum loan amount?
The maximum loan amount for our land loan is $300,000.
What is the maximum loan-to-value ratio?
The maximum LTV is 65%, meaning you will need to bring at least 35% of the purchase price as a down payment, or have sufficient equity if you are refinancing.
What states is the land loan available in?
Land loans are currently available in Arizona, California, Colorado, Florida, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Tennessee, Texas, Utah and Washington. If you’re in another state, contact us to discuss your options.
Can I use my land as equity toward a construction loan later?
In many cases, yes. The equity you’ve built in your land may factor into your qualification for a construction loan when you’re ready to build. Contact us to discuss how your land fits into the financing picture.
Why is the LTV lower for land loans than for home mortgages?
Land without an existing structure is considered higher risk by lenders because it has no immediate income-producing potential and can be harder to sell quickly in the event of default. A lower LTV protects both the lender and the borrower by ensuring a meaningful equity cushion from the start.
Do I need a survey before applying?
A land survey is typically required as part of the loan process and is an important step before any land purchase regardless. A survey confirms boundary lines and identifies any issues that could affect your ability to build. Your Real Estate Loan Consultant can walk you through the documentation requirements.
* Participation in this program will not be confirmed until the completed application has been submitted to the Real Estate Department. All requests will be processed and must meet Firefighters First’s underwriting guidelines. Funding of these loans is subject to credit approval and verification of employment, equity, and all other related file documentation necessary to qualify applicant(s).
1. Firefighter Insurance Services (#0G87848) is not insured by NCUA.
Taxes and insurance premiums are not included in the payment and that the actual payment obligation may be greater.
Representative Example: 15 year fixed land loan: 8.25% rate, 8.689% APR $250k loan amount, $2,425.35 payment. Taxes and insurance premiums are not included in the payment and that the actual payment obligation may be greater.
APR = Annual Percentage Rate.
NMLS ID #649058.
Subject to credit approval.