The loan-to-value ratio is determined by an independent appraisal of the land. The loan amount offered can be up to 75% of the land's appraised value.

A 3-year balloon term means regular monthly payments are based on a 30-year amortization schedule, but the remaining principal balance becomes fully due at the end of three years, requiring either refinancing or full payoff at that time.

This type of financing applies exclusively to residential or development purposes. Properties primarily used for agriculture or farming do not qualify under this program.

Applicants should be prepared to provide recent bank statements, income verification (such as pay stubs or tax returns), and other standard financial documents showing sufficient assets and income.

Yes, borrowers who intend to build a home after land acquisition can typically transition from land financing into a construction loan, subject to meeting subsequent eligibility criteria and lender approval.