If you are looking for a land loan and thinking about building a new home, you are in the right place. If you have found a building lot and want to purchase it, you will need a land loan. Vacant Land loans can help you purchase the land and give you time to develop your house plans and your construction budget. If you are looking for more than just a lot loan we have construction loans that allow you to finance up to 95% of the total cost of construction, including the land. Schaefer Mortgage Corp. offers many services to make your home construction a success, including land loans. Contact us today and get started with your land loan.
A Land Loan would be a good choice if you’ve found the lot but aren’t ready to begin construction.

Land Loan Features:

• Minimum 10 to 20% down payment.
• Land Loans must be under 10 acres.
• Building lots must be deemed zoned for single family residential construction.
• Additional requirements exist.

Schaefer Mortgage Corp. has ARM and Fixed Rates and can close in a little as two weeks.

Site Plan

• Plot Plan (shows house, easements, setbacks, septic, slope, etc.)
• Topographical Map (if required on a sloping lot)
• Grading Plan (if required by Building Department)
• Percolation Test (if a septic system is required)
• Septic Plan layout and/or Septic Design if engineered system is required
• Well site, depth, flow rate, water quality

Utilities

• Where is closest place to tie into existing utilities?
• What is the cost of bringing electric to house site?
• What is the cost of bringing water to house site?
• What is the cost of bringing gas to house site?
• What is the cost of bringing sewer to house site?
• What is the cost of bringing telephone and cable to house site?
• What are connection fees for all of the above from each Utility Company.

Building Department

• Is lot a legal building site?
• Are there easements on property?
• What are setbacks (front, rear, and sides)?
• What are Soft Costs associated with building your home?

Construction Permits

• Fees (schools, road use, Fire Dept., environmental impact, etc.)
• Is engineering required on your home plans?
• Is engineering required on trusses PRIOR to submitting plans?
• GET A COPY OF THE BUILDING DEPARTMENT PLAN CHECK PROCESS.
• Get accurate idea of timeline for getting a Building Permit.

Title Issues

• Easements
• Road maintenance agreement