Family walking together on their empty lot

The perfect home begins with the perfect location.

With a land or lot loan, you can purchase the ideal piece of land to build your dream home, even if you're not quite ready to start construction. Whether you are looking for a primary or a secondary residence, we offer the financing you need to find the perfect setting for your new home.

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Features

<h3>Flexible financing. </h3>

Our financing allows you to purchase the property you intend to build on at a later date. Fully amortizing, balloon and interest-only options are available.

<h3>No prepayment penalties.</h3>

You can make partial or full prepayment(s) to your loan at any time with absolutely no prepayment penalty or fee.

<h3>Fast digital loan experience. <h3>

Apply for your land or lot loan online. Our fast and easy digital experience is backed by local lending experts who will personally guide you every step of the way.    

Current Rates

Residential Land Loans
Loan Type APR as low as** Loan Amounts
*Up to a 15 year amortization 5 year balloon 6.95% $50,000 - $250,000
*5 Year 6.74%
Rates reflect a .25% discount for auto-debit from a Broadway Bank account. Military rate discount of .25% available.1
*Click here to view assumptions and examples. 

Residential Lot Loans
Loan Type APR as low as** Loan Amounts
*Up to a 15 year amortization 5 year balloon 6.20% $50,000 - $250,000
*5 Year 6.07%
Rates reflect a .25% discount for auto-debit from a Broadway Bank account. Military rate discount of .25% available.1
*Click here to view assumptions and examples. 

Assumptions and Examples

Residential Land Loans
A representative example of payment terms are as follows: A loan amount of $50,000 with a 65% loan to value (ltv) and an APR of 6.95% would have 59 monthly payments of $442.38 and a final payment of $38,969.89. These calculations are based on a 15 year amortization with a 5 year balloon payment. All loans and lines of credit are subject to credit approval, verification, and collateral evaluation. Rates and terms are subject to change without notice. Other terms available. Minimum loan amount is $15,000.

The bank offers loans to purchase unimproved residential land with up to 65% financing available to qualified borrowers.

Residential Lot Loans
A representative example of payment terms are as follows: A loan of $50,000 with a 15 year amortization and a 5 yr balloon payment, a 80% loan to value (ltv) and an APR of 6.20% would have 59 monthly payments of $421.83 and a final payment of $38,420.58. A 5 year loan of $15,000 with a 80% loan to value (ltv) and an APR of 7.09% would have 60 monthly payments of $289.98. All loans and lines of credit are subject to credit approval, verification, and collateral evaluation. Rates and terms are subject to change without notice. Other terms available. Minimum loan amount is $15,000.

The bank offers loans to purchase unimproved residential lots with up to 80% financing available to qualified borrowers.

**APR is the Annual Percentage Rate. APRs quoted assume excellent borrower credit history and reflect a .25% discount for auto-debit of the monthly payment from a Broadway Bank account. We will set your APR based on your circumstances, including your credit history, loan amount, and internal credit criteria. Lending area and other restrictions apply.

1Military rate discounts are for military customers and are available on fixed rate consumer loan accounts. Not available on consumer lines of credit, HELOC, mortgage or construction loans or any business loans. A military customer is any Retired or Active Duty service member, Reserve/National Guard Member, Veteran, ROTC or Academy Cadet, or dependent (immediate family member), and Department of Defense Civilian and Contract Personnel.
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