Land Lot Loans
Secure the Perfect Spot for Your Dream Home
Found the perfect land to build your dream home? Whether you plan to build your home right away or a few years from now, GMM is here to help you get started. Our Land Lot Loan is a loan that can be used to finance the purchase of land or a lot property for your new home.
What is a Land Lot Loan?
If you are interested in owning a piece of property for a home, but are not quite yet ready to build, a land loan can give you the opportunity to secure the land you want without tying you down to specific building deadlines.
Undeveloped Land Loan
Raw land loans are designed to provide funding on property that is completely devoid of improvements. This particular type of financing would apply on a piece of land that has no existing utility lines or even easy access to them, for example.
Developed Land Loan
Unlike raw land, lot land has some type of infrastructure already in place, such as lines for electricity and water, those that have provable access to lines and also those that are already located on paved roads. Lot land is usually building space for residential construction in developed areas.
*Property must be located within 90 miles from a United Bank branch.