US Bank offers a unique 30 year loan program for financing vacant lot loan purchases for buyers to as much as $5 million. Buying vacant land does not necessarily require a highly affluent profile, we can offer vacant lot financing currently to $750,000. While our pricing is comparable for any buyers, we now include a 30 year adjustable mortgage program with 3 years of fixed payments. There are no prepayment penalties currently required.

It can be helpful to note when buying a vacant lot to work with a knowledgeable real estate professional, who will know questions to ask in advance and address specifics whether an available lot has concerns including access to utilities and sewer services. For example: some lots may require a ‘Perc test’ to accurately determine if they can handle a septic system? This information is useful to get established clearly with your agent’s help prior of going into escrow. As a lender, it is a requirement also for closing a new lot loan request.

Buying vacant lots today may offer an excellent value and includes many advantages in building exactly what is desired for an owners’ lifestyle. Buying a ‘clean slate’ lot can save numerous issues dealing with costly retrofits and serial remodels to adjust for limited trade-offs in purchasing a mostly depreciated or ‘fixer’ home.

Please feel free to email me with any questions at rod.kuhns@usbank (dot) com.