Residential Lot Loan Program

Managing Real Estate Broker with ERA American Real Estate
  • Up to 30 year amortization
  • Interest only payments available
  • Up to 90% financing (based on appraisal or contract)(*land size restrictions)
  • Mortgages modified for construction loan (reducing costs for construction loans)

Plan1 & 1 ARM3 & 1 ARM5-Year Fixed Amort.
Min. Cash
Down Payment
25%     10%25%     10%25%     10%
Maximum LTV75%     90%75%     90%75%     90%
Start Rate6.95%     7.25%7.50%     7.75%7.95%     8.25%
Total Points0     1/20     1/20     1/2
AmortizationInterest OnlyInterest Only15-Year(**20/30 Year)
Maturity5 Years5 Years5 Years
Caps2% Annual - 5% Life2% Annual - 5% LifeN/A
Index1 Year T-Bill1 Year T-BillN/A
Margin3.50%     3.75%3.50%     3.75%N/A
AnnuallyAnnually beginning
year 4

(Note this program is only available in platted/recorded subdivisions and good sales histories. Areas that do not qualify, lower LTV and higher interest rates may apply.)

  • A minimum of 25% down required on purchases of $500,000+.

  • Investor loans - minimum 25% down, 75% LTC/LTV; increase above rate by a minimum of 1% and get a 1% origination fee.

  • Non-purchase (refinance, renewal, cash out) add a minimum of .50% to above rate.

  • Non-platted, rural, and without deed restrictions which limit homes to site built add a minimum of 1% to above rate. Minimum 25% down, 75% LTV.

  • Add .50% to rate for loans qualifying for stated income program (purchased for primary residence only).

  • Foreign National Program - minimum 25% down, 75%LTC/LTV: increase above rate by a minimum of 1% and get a 1% origination fee and a 6 month reserve account.

  • All loans are subject to qualification.

* Maximum lot size 3 acres (10 acre if in platted subdivision).

** 20 year available on loans above $35,000, 30 year on loans above $100,000.

Rates and terms subject to change. For informational purposes only.

Call Rena Gilpatrick of Peoples First at 850-609-3941 for more information. Thanks again Rena for the information.

Residential lot loan


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Brandon Jordan, Realtor,E-PRO,ERA American Real Estate

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Certified E-Pro™ Realtor Short Sale and Foreclosure Certified ERA Distinctive Properties Specialist
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Brandon Jordan 
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ERA American Real Estate
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