Land Loans

Unimproved Property Loan Rates & Terms

As of 9/19/2024 our Fixed Rate Unimproved Property Loans have an Annual Percentage Rate of 8.50% for 5 year loan terms and 9.00% for 10 year loan terms. Rates are subject to change at any time. Minimum monthly payment on all loans is $35. Rates given are current as of Thursday, September 19, 2024 and are subject to change.

Questions?
Contact our Mortgage Services team today at 850.862.0111 x.3737 or via secure email

*APR = Annual Percentage Rate.

Maximum Loan Amounts & Restrictions - Unimproved Property

1. Requires Eglin FCU membership.
2. Loans from $5,000 to $200,000.
3. Purchase: Loanable equity is determined by 80% of the Appraised Value or Purchase Price, whichever is less.
4. Refinance: Loanable equity is determined by 80% of the Appraised Value or 100% of the Property Appraiser's land value.
5. Property must be residential or non-commercial raw land, 20 acres or less.
6. In an effort to provide the most fair and accurate Loan Estimate to assist you in comparing between lenders, please thoroughly complete the credit application with accurate information and figures.
7. A Mortgage Services team member may be in touch should we find that further information is needed pertaining to your loan request.