Build on your own lot
Already own the land? Put it to work on your build.
If you own your lot, you've already done a big part of the work. Many buyers don't realize their land has value they can use toward the build. With a construction-to-permanent loan, the equity in your lot can help finance construction.
Land equity
What land equity means
Equity is the part of the lot you own outright: what it's worth minus anything you still owe on it. If you bought the lot years ago, or paid it off, that equity may count toward what you need to bring to the build. How much counts depends on the lot's value, your credit, how you'll use the home and the project.
How it works when you own the lot
- Tell us about the lot.Where it is, what you owe on it, and your builder if you have one.
- We review the lot, your builder and your plansas part of one application.
- Close once.The loan covers the build and becomes your long-term mortgage when construction ends.
- Your builder is paid in drawsas work is finished and verified.
Good to know
Before you call
- Tell us what, if anything, you still owe on the lot. It affects how much equity counts.
- Buying the lot too? We don't make standalone lot loans, but you can buy the lot and finance it with the build from day one, once your plans and specs are in place.
- Primary homes, second homes and investment properties are all eligible.
- Site-built homes and ADUs are eligible. Modular homes and barndominiums aren't.
Talk to Neil
Own a lot?
Call Neil with the address and what you owe on it. We'll tell you how the land can work for your build.
- You call or send the formWe'll ask where you're building, whether you own the land and your timeline.
- We look at your buildYour lot, your builder and your plans, together.
- You get a straight answerWhat it takes to close, and what happens next.