Land Acquisition Loans

Allied First Bank offers loans to builders for the acquisition of improved residential lots for near term residential home construction. An "improved lot" refers to a portion of land that already has road access and utilities in place to the lot boundary, and has additionally been approved by the city or county as a separate parcel of land on a parcel map.

Land acquisition loans are offered with maturities up to 24 months. The maximum loan amount will be the lower of 80% of the appraised value or purchase price. Liability insurance will be required at closing. All direct expenses incurred by the bank for processing the loan will be paid by the borrower at closing.

Current Rates