Lot Loans

Get the right tract of land for your dream home

Secure your spot with residential lot and land loans

Owning land has long been part of the American dream, and now it's within your reach. With a lot loan from First Citizens, you can buy land today and build the home of your dreams tomorrow.

Primary or secondary residence

Plan to build your new house or the vacation home you've always wanted.

Flexible terms

Explore loan term options up to 180 months with a 60-month balloon.

Interest-only payments

Build within a year to enjoy 12 months of interest-only payments.

Secure land for your dream home
Lot Loan Benefits

Bringing your vision to life, from the ground up

Using a loan to buy land gives you a unique opportunity to design and develop your property as you wish.

  • Choose developed or undeveloped land for your dream home
  • Easily refinance to a home construction loan or a mortgage when construction is complete
  • Put down residential roots in an up-and-coming area
  • No PMI or homeowners insurance required to purchase land

How to get started

Getting a lot or land loan doesn't have to be hard—in fact, the process itself is a lot like getting a mortgage. Our friendly lending experts will guide you through your best options.

Step 1

Find a lot to purchase

Before you apply for a lot loan, you'll need to find land to purchase. The land is where you'll be planning to build a primary or secondary residence, and it may be developed or undeveloped.

Step 2

Connect with our lending team

Get the conversation rolling with one of our expert lenders. The best time to do this is after you've found land but before you've started planning for construction.

Step 3

Explore your loan options

We'll work with you to gather important details about your financial situation, the land you're buying and how you want to use it. Then we'll help you explore your loan options to find the best fit for you.

Step 4

Apply for a lot or land loan

Ready to set your land plans in motion? Then it's time to apply for financing and turn your dream of buying land into a reality.

Homeowners Insurance

Keep your home and your family safe

Get the right homeowners insurance to meet your family's needs.
Home Construction Loans

Make financing your new home seamless

Get one loan to cover the short-term costs of construction and the long-term financing of a mortgage.
Lot Loans FAQ

People often ask us

A lot loan is a way to finance the purchase of a tract or plot of land. It's similar to a mortgage, except the loan isn't secured by a house. Both lot loans and land loans refer to the same thing, so the terms are often used interchangeably.

No. Getting a land loan doesn't have to be hard. However, because land loans are riskier for the lender than a traditional mortgage, the borrowing requirements may be different. For example, interest rates are usually higher for land loans, and you may need to provide a higher down payment.

No. Although it's very common, building a house isn't required to get a lot loan. There are many other reasons why people choose to buy land. For example, a homeowner might purchase neighboring lots to increase their acreage and expand their homestead. Others might want to purchase land they can use specially for hunting, fishing, camping or gardening.

Terms for lot loans can vary. Common terms include 60 months and 120 months (with a 60-month balloon). The longest term we offer is 180 months with a 60-month balloon.

Yes. In fact, residential lot and land loans are typically refinanced once you get further along in the construction process. They're often replaced with a home construction loan—or a mortgage when construction is completed. Refinancing this way can help you get a lower interest rate on your principal balance.

There are many contributing factors that determine how much land you can afford. First, there's the land itself to consider: its location, its quality, whether it's developed or undeveloped, and how you plan to use it. Next, consider your financial situation as a borrower. Reviewing the 5 Cs of credit can help you see how your application might look to a lender. Finally, there's no substitute for expert guidance. Talk to one of our lending experts to learn more about your options and how much you may be qualified to borrow.


A few financial insights for your life

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