Land loan program details
Rates as low as 5.743% APR1
Terms available from 1 – 10 years
Finance up to 75% of the purchase price
No pre-payment penalties: shrink your term by making extra payments to your principal balance
Finance construction of your new home once your land loan is complete with our construction loans
Home lending rates
| Type | Rate | APR1 | EMP2 (per $1,000) |
|---|---|---|---|
| Adjustable Rate Mortgages4 | |||
| 5&1 Fixed Variable4 | 5.375% | 5.705% | $5.60 |
| 7&1 Fixed Variable4 | 5.875% | 5.978% | $5.92 |
| 7&3 Fixed Variable4 | 6.000% | 6.166% | $6.00 |
| 10&5 Fixed Variable4 | 6.125% | 6.316% | $6.08 |
| Convertible 1 Yr Adjustable4 | 5.125% | 5.679% | $5.44 |
| 1 Year Adjustable4 | 5.125% | 5.679% | $5.44 |
| 3 Year Adjustable4 | 5.750% | 5.852% | $5.84 |
| 7&1 Variable 40 Year4 | 6.375% | 6.467% | $5.77 |
| Land Loan3,4 | 5.125% | 5.743% | $10.67 |
| Fixed Rate Mortgages | |||
| 15 Year | 6.250% | 6.427% | $8.57 |
| 20 Year | 6.500% | 6.644% | $7.46 |
| 30 Year | 6.875% | 6.988% | $6.57 |
| 40 Year | 7.125% | 7.226% | $6.31 |
| First Time Homebuyers | 6.750% | 6.822% | $6.49 |
1:APR = Annual Percentage Rate. All mortgage APRs are for 1-4 unit owner occupied primary residences based on 20% down payment. APRs may vary with lesser down payment. All mortgages with a loan to value of 80% and over require Prime Mortgage Insurance (PMI). Rates subject to change without prior notice. Zero points on all mortgages. Guidelines available upon request.
2:EMP = Estimated Monthly Payment.
3:Land loans 1-10 years, 25% downpayment
4:ARM loans are variable rate loans, interest rates and payments may increase after consummation. Rates and payments will remain the same for the first 5, 7, or 10 years and then can adjust to a new rate and payment every 1, 3 or 5 years based on a current index, depending on the ARM program you choose. For example, if you select the 5 & 1 Fixed Variable program your rate and principal & interest payment will be fixed for the first 5 years (the 5 in 5& 1), after that the interest rate and payment could change every 1 year for the remainder of the mortgage’s term (the 1 in the 5 & 1).
2:EMP = Estimated Monthly Payment.
3:Land loans 1-10 years, 25% downpayment
4:ARM loans are variable rate loans, interest rates and payments may increase after consummation. Rates and payments will remain the same for the first 5, 7, or 10 years and then can adjust to a new rate and payment every 1, 3 or 5 years based on a current index, depending on the ARM program you choose. For example, if you select the 5 & 1 Fixed Variable program your rate and principal & interest payment will be fixed for the first 5 years (the 5 in 5& 1), after that the interest rate and payment could change every 1 year for the remainder of the mortgage’s term (the 1 in the 5 & 1).
How can we help?
Our dedicated loan center team is happy to answer your land loan-related questions or provide assistance with completing an online land loan application.
(774) 823-1665
Monday – Wednesday: 8:00 a.m. – 4:30 p.m.
Thursday & Friday: 8:00 a.m. – 5:00 p.m.
Saturday & Sunday: Closed
Award-winning service
2024: Newsweek Best Regional Banks and Credit Unions
2023 Top Lender: Banker & Tradesman
2024 Winner: Best of Central Mass
Rated 5 Stars by Bauer
2022 Top Lender: Banker & Tradesman