Lot Loan
There is a lot of potential with a potential lot.
Find your personal slice of paradise and start looking at floor plans, because building your next home from the ground up just got easier.
Live anywhere you want.
A lakeside home. Living large in the country. The convenience of a new neighborhood. Owning your dream property starts with a vision and a Lot Loan from Addition Financial. Once you’ve chosen the piece of land you want to call your own, we’ll help you take care of the financial details.
Get your hands on land.
Maybe buying a preowned or prebuilt home isn’t for you. Or maybe you’re planning to build your forever home in a few years, but the perfect piece of land is available now. Whatever your situation, an Addition Financial Lot Loan can help you secure the ideal spot for your future primary residence.
- 5, 10, and 15 year fixed rate terms
- Minimum loan amount $25,000
- Maximum loan amount $300,000
- Financing available up to 75% of purchase price or appraised value, whichever is less
- Purchase & refinance
- Maximum 10 acres lot size
- Land must be zoned as residential
What to expect after you apply:
We want you to feel prepared as you navigate this application process. Download this checklist to learn about what you'll need to have on-hand once you've hit "submit".
Get a lot without paying a lot.
Whether you’re buying your first home or you’ve done this before, Addition Financial offers a variety of mortgage options to suit your needs plus one-on-one advice to help you reach your goals.
- Review eligibility
Anyone who lives, works, worships, attends school or vocational training, or is an alum of any college, university, or educational institution located in one of our select counties may join. View our "Become a Member" page for full eligibility.
- Complete loan application
When you're ready, complete the online application or visit your branch to apply in person.
- Make sure you have everything you need.
Mortgage Rates
5 Year Lot Loan
Mortgage
10 Year Lot Loan
Mortgage
15 Year Lot Loan
Mortgage
Payment Examples
Term Payment | Rate "as low as" | APR "as low as" | Example loan amount | Example monthly payment |
5 years | 8.750% | 8.750% | $300,000 | $6,191.17 |
10 years | 9.250% | 9.250% | $300,000 | $3,840.98 |
15 years | 9.750% | 9.750% | $300,000 | $3,178.09 |
*Historical example as of 03/03/2023
Calculate Your Mortgage
Take the guesswork out of homebuying! Use our easy-to-use mortgage calculator to estimate your monthly payments and find the right loan for your budget. Start planning today!
Related Articles
5 Tips on Saving for a Home & How Much You Should Save
We asked some financial experts for their advice for saving up to buy a home and here are five tips they shared with us.
Episode 6: Buying a Home for the First Time
On this episode of Making it Count, hosts Cristina and Will learn what it takes to become a homeowner from two local real estate experts.
How to Save Money for a House Down Payment While Renting
For many young people, it’s a priority to save money to buy a house, so they can stop renting. Saving isn’t easy, but here are some things you can do to help you save money for a house.