Land Loan Rates

APR = annual percentage rate. Payment examples do not include amounts for taxes and insurance premiums and actual payment obligation may be greater than illustrated.

The land loan is an adjustable-rate mortgage and may increase after the original fixed rate period. Variable interest rate may adjust 2% annually after the fixed rate period with a 6% lifetime cap and impact the monthly payment. Adjustable-rate mortgage payment example: The land loan is a variable rate loan; interest rates and payments may increase after the original fixed-rate period. 1/1 Adjustable-Rate loan for $100,000 at a 5.375% initial interest rate and APR of 7.151% will have the following monthly payment: 12 payments of $680.85 at an interest rate of 5.375%, 107 payments of $793.16 at an interest rate of 7.375%, and 1 payment of $67,981.67 at an interest rate of 7.375%. 3/1 Adjustable-Rate loan for $100,000 at a 6.000% initial interest rate and APR of 6.891% will have the following monthly payment: 36 payments of $716.43 at an interest rate of 6.000%, 83 payments of $788.06 at an interest rate of 7.375%, and 1 payment of $67,545.11 at an interest rate of 7.375%.