Residential Lot Loans

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What is a Residential Lot Loan?

Residential lot loans are designed to help you purchase the lot that you wish to build your dream home on. CresCom's lot loan requirements are as follows:

  • Purchase ONLY, no Refinance  (Borrower must intend to Build)
  • Maximum Loan Amount $100,000.00 (over $100,000.00 will be considered on a case by case basis).
  • Loans of $100,000 or less are available up to a maximum of 85% LTV with minimum 740 credit score and up to a maximum 80% LTV with a minimum credit score of 700.
  • Lot must be an Existing, Platted Suburban Subdivision  (Water, Sewer, Power & less than 2 acres)

CresCom Bank offers 2 residential lot loan program options below:

  • Interest only 
  • Amortizing options 

 

Do not hesitate to email or call our Mortgage Team as we are here to listen and ready to find the perfect solution for you!

Contact Us at: 855-CRESCOM (273-7266) or scenario@haveanicebank.com

Apply for a Residential Lot Loan Today!

 

LTV means loan-to-value ratio. LTV's and Interest Rates/APR's may be higher for applicants with lower credit scores.

NMLS# 462560

CresCom Bank

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