Get the land now. Finance your home later.
Found the right piece of land? LMCU can help you secure it now. And then build when the time is right.
Land financing that works on your schedule, not the bank’s.
Most loans are tied to a structure. LMCU’s vacant land loan is tied to a plan — yours, on your timeline. As little as 10% down1, up to 40 acres, no reserve funds required.
As little as 10% down
Get started with as little as 10% down1. No reserve funds required. Just the land you've been looking for.
Up to 40 acres
Parcels up to 40 acres are eligible. Whether it's a small lot or a larger stretch of land.
Loan amounts up to $500k
A few things to know before you apply.
LMCU vacant land loans are designed for members who plan to build a permanent home on the property. Meaning, a primary or secondary residence. Here's what to have in order.
A home plan
This loan is for members who intend to build a permanent dwelling on the land. Primary or secondary residence only.
Intent to build
You don't have to break ground right away. But the plan to build a permanent dwelling needs to be there.
Zoning approval
Local zoning laws need to permit residential construction on the parcel before financing can move forward.
Details worth knowing before you buy.
Buying land is a different process than buying a home. LMCU offers a dedicated vacant land loan with clear terms and local guidance. Start with the questions below.
A vacant land loan — sometimes called a lot loan — is financing specifically for purchasing land without an existing home on it. Unlike a traditional mortgage, the land itself serves as collateral, and there's no structure for the lender to fall back on — which is why land loans tend to have different terms than home purchase loans. A vacant land loan lets you purchase the property now and build later, on your own timeline. Many members use a vacant land loan first, then transition to LMCU's construction loan when they're ready to break ground.
LMCU vacant land loans are available for parcels up to 40 acres intended for a primary or secondary residence. A few things lenders look at:
- The property must be zoned for residential construction
- Your plan to build a permanent dwelling needs to be clear — not necessarily imminent, but real
- As little as 10% down1 is required, with no reserve funds needed
Because land has no structure on it yet, financing vacant land does require solid credit and a clear intended use for the property. A loan officer can walk you through where you stand before you apply.
Yes, and that's exactly what a vacant land loan is designed for. If you've found the right parcel and aren't ready to build yet, this loan lets you secure it now and build later.
Though there are a few things worth sorting out before you purchase: zoning and land use restrictions, access to utilities, road access, and any survey or title work the property may need. None of these have to be resolved before you apply. However, knowing where things stand helps the process move faster. Your LMCU loan officer can help you think through what to check.
Think of them as two chapters in the same story. A vacant land loan covers the acquisition — you're buying the parcel and holding it until you're ready to build. A construction loan kicks in when it's time to break ground and covers the cost of the build itself. A lot loan is used to purchase the land, followed by LMCU's construction loan when they're ready to start. If that's the direction you're headed, talking to a loan officer early can help you see how the two fit together.
Land is exciting. But it has a few more moving parts than a finished home. Before you move forward, it's worth looking into:
- Zoning and permitted uses: Can you build the kind of home you're planning?
- Utilities: Is water, sewer, and electricity accessible, or will you need to bring them in?
- Road access: Is there legal access to the parcel, or will an easement be needed?
- Survey and title: Know what you own and where the lines are
- Your build timeline: There’s no deadline required. But a rough sense of when helps when discussing financing options.
Your LMCU loan officer can help you work through the list and flag anything that might need attention before you apply.
LMCU's vacant land loan is available for parcels where the intent is to build a primary or secondary residence — not recreational or investment-only land. If you're purchasing land for hunting, farming, or recreational use without plans to build a permanent home, this particular loan may not be the right fit. Not sure which path makes sense for your situation? A loan officer can help you figure out the best route based on what you're planning to do with the property.
The LMCU difference, by the numbers.
Not sure where to start?
Buying land is a different kind of decision than buying a home — and it helps to have someone who knows the territory. LMCU loan officers work with members at every stage, from 'I found a lot I love' to 'I'm ready to apply.' No commitment required to talk things through. Find one near you.
One membership. Every way to get home.
Disclosures
For well qualified borrowers. Borrower may only have one vacant lot loan.
To receive MaxMortgage discount, mortgage payment must be an automatic payment that comes from an LMCU checking account with an ACH deposit. Some programs may not be eligible, discuss with your mortgage loan officer for further details.
