Lot Loans
Have you found the perfect lot for your dream home? If the answer is yes, then Goldenwest has the perfect loan for you.
Finance the lot until you’re ready to begin construction.
Save on fees because we will credit half the lot loan origination fee towards your Goldenwest construction loan.
Goldenwest lot loans are for a 30-year term with a 3-year call and require a minimum 20% down payment. See a full list of rates and disclosures.
Learn more about opening a mortgage with Goldenwest Credit Union.
From Lot Loan to New Home
Learn about how to navigate building your dream home
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Frequently Asked Questions
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What is a lot loan?
A loan to finance the purchase of land intended for future construction of your home or investment. -
Can I purchase my lot now and build later?
Yes! Purchasing your lot to build your home on later is the purpose of a lot loan. Purchasing your lot can guarantee your area for future plans. -
What types of land qualify for financing?
Eligibility varies based on intended use, zoning, and location of the property. Speak with a Mortgage Loan Officer today for more information. -
How soon do I need to build after getting a lot loan?
Building plans for your new home takes time. Requirements may vary based on loan terms and agreements. We recommend looking into building your home after acquiring your lot. Designing your home and choosing a builder are important decisions. Initiating plans for your new home may take longer than expected. Do your research, receive recommendations, and invest your time in meeting with prospective designers and builders. A rule of thumb is to speak with at least two or three alternate choices. -
Will a land survey be required for a lot loan?
Goldenwest does require your lot to have access to utilities and be designated as a legal parcel. Additional details may apply. Reach out to us today for recommendations. Call us at 801-786-8400 or step into a branch near you. -
How can I transfer my lot loan to a construction loan?
Learn how to navigate your process from purchasing your lot to building your dream home. Access our Lot Loan to New Home guide. -
What are the benefits of continuing with Goldenwest?
Benefits include:
- Saving money on fees
- Stressing less with continuity
- Streamlined process
- Competitive rates