7 Best Land and Lot Loans in Florida


Land loans let you secure your ideal property for recreational, business or construction purposes while it’s still available and before prices go up.

Key Terms

  • Land loans are a great way to build a second or vacation home in an area you might not otherwise be able to afford.
  • Land loans don’t involve paying insurance or PMI.
  • You can build on your own time with a Florida “lot” loan.

Florida is nicknamed the Sunshine State with good reason. Its tropical weather and beautiful beaches are enough to make anybody dream of a vacation. If you’ve ever thought about buying land in Florida and building the home of your dream, you are certainly not alone.

Land is abundant in Florida and the coastline stretches for miles. In fact, according to the U.S. Census Bureau, there are 53,652 square miles of land in the Sunshine State. Of course, many people love the coastline so much that 76.5% of the population in Florida lives in coastal areas, making these regions some of the most expensive. 

If you want to buy land in Florida, especially on the coast, the first thing you’ll need to understand is how you’re going to finance your purchase. Luckily, there are many lenders in Florida that offer land loans (sometimes called lot loans). Per the New Estimates of Value of Land of the United States, the value per acre of land in Florida is $28,961.25, making this approach a pretty affordable option. 

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How land loans in Florida are different

If you plan to build a new home in Florida, you’ll need to find land that is suitable for building. There are several different types of land loans you can consider. If your ideal spot is completely undeveloped, you will need a raw land loan. If there are some infrastructure elements on a site, this would call for an unimproved land loan. Finally, there are improved land loans that are for tracts of land that are primed and ready for a build. 

Land loans are different from construction loans in that they finance the land and the land alone. You can purchase a parcel while prices are still good, then sit on the land as long as you like. When you are ready to build, you can secure financing for a Florida construction loan and even use your land as collateral in some situations. 

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7 Best Florida land loan lenders

If you’re ready to learn more about the best land loan lenders in Florida, here are the top options we’ve found through our research.

1. Farm Credit of Northwest Florida

Farm Credit of Northwest Florida is part of the Farm Credit System and is affiliated with AgFirst Farm Credit Bank. Established in 1916, the financial institution aims to meet the needs of ranchers and farmers in the region by offering a range of options for land loans, including rural purchases.

We asked Farm Credit of Northwest Florida for more details on their vacant land loan product and here is what they said:

  • Available for farm land purchase
  • Available for construction projects (home, lodge, etc.)
  • Available for hunting and recreational purchases
  • Rural land purchases and refinances
  • Land improvements (fencing, ponds, barns, etc.)
  • Land preparation and timber management
  • Lodge or home construction
  • Agricultural heritage property
  • Agritourism

When you’re ready to connect with a loan officer, use our form to quickly match with land and lot loan programs based on your specific circumstances.

2. MIDFLORIDA Credit Union

Starting in 1954 as the Polk County Teachers Credit Union, MIDFLORIDA Credit Union started with only 10 charter members and has grown significantly since. MIDFLORIDA Credit Union offers a number of products to help meet customers’ needs, including lot loans with financing for up to 80% of market value.

To get you the best information, we contacted MIDFLORIDA Credit Union for more details on their land loans and here are the key features and terms:

  • Lot loan available to secure the land when you’re not quite ready to build yet.
  • You can finance up to 80% of the market value.
  • Terms up to five years available.
  • Fixed rate
  • Payments calculated using up to 20-year amortization, with 5-year balloon payment
  • Converts to a construction loan

When you’re ready to connect with a loan officer, use our form to quickly match with land and lot loan programs based on your specific circumstances.

3. Seacoast National Bank

Seacoast National Bank serves the Stuart, Florida area, offering a number of banking and financial services to those who are members. Seacoast National Bank offers lot loans that can be used for securing a site for a future home and are available for up to $500,000.

We reached out to Seacoast National Bank to discuss land loan details, which you can read about below:

  • Loans available up to $500,000 on up to 5 acres.
  • Plan how you’ll start construction on your home within 3-5 years of closing.
  • Local loan specialists are available.

When you’re ready to connect with a loan officer, use our form to quickly match with land and lot loan programs based on your specific circumstances.

4. Citizens Bank & Trust

Based in North Alabama, Citizens Bank & Trust provides a number of services for those living in the area and looking to invest in property. Citizens Bank & Trust offers land loans and construction loans to help with the purchase of property as well as the building on property.

We reached out to Citizens Bank & Trust to discuss land loan details, which you can read about below:

  • Available for home construction or land
  • Available for primary residence or secondary home construction
  • Draw system: funds can be disbursed in stages as construction progresses
  • May roll into permanent loan, saving on closing costs
  • Local decision-making and processing

When you’re ready to connect with a loan officer, use our form to quickly match with land and lot loan programs based on your specific circumstances.

5. TD Bank

TD Bank is a full service bank that offers all types of financial products, including investments, wealth planning, and private banking services. TD Bank does have a large lending ability in which loans can be obtained for property and land purchases and the purchase and renovation of a home.

We reached out to TD Bank to discuss land loan details, which you can read about below:

  • Can finance land purchases as part of construction project
  • Construction loans are interest-only during the construction phase

When you’re ready to connect with a loan officer, use our form to quickly match with land and lot loan programs based on your specific circumstances.

6. Tyndall Federal Credit Union

Tyndall Federal Credit Union puts its customers and members first and is a not for profit credit union that is based in Southern Alabama and the Florida Panhandle. Tyndall Federal Credit Union offers many products and services for its customers, including land loans with an 80% loan to value ratio.

To get you the best information, we contacted Tyndall Federal Credit Union for more details on their land loans and here are the key features and terms:

  • Land loans available if you’re not yet ready to begin construction.
  • Financing of up to 80% loan-to-value available.
  • No closing costs available
  • Most loans close in 45 days 
  • Experts guiding through the entire process

When you’re ready to connect with a loan officer, use our form to quickly match with land and lot loan programs based on your specific circumstances.

7. First Florida Credit Union

As a not-for-profit organization, First Florida Credit Union provides members with access to full banking solutions across 18 locations in Florida. It offers lot and land loans to secure a tract of land or lot. Established in 1950, the institution has over $1.3 billion in assets and 60,000 members.

We reached out to First Florida Credit Union to discuss land loan details, which you can read about below:

  • Available for lot or tracts of land
  • Available for construction loan projects

When you’re ready to connect with a loan officer, use our form to quickly match with land and lot loan programs based on your specific circumstances.

Does a Florida land loan make sense for you?

If building a home in the sunny state of Florida sounds attractive to you and your family, or you want to purchase land in Florida, you have to ask yourself if a lot loan makes sense. Navigating the process of applying for a land loan in Florida can be daunting to do by yourself. This is why we advise contacting a vetted loan officer that has many years of professional experience guiding people just like you through the process of getting a land loan in Florida, from application to building the home of your dreams. 

When you find real estate or a piece of land you really like on the NMLS, you could even build your own dream home on that land with little hassle after getting a land loan. Knowing the loan amount, credit score requirements, down payment needs, interest rates, and more will all help borrowers decide if this is their best fit. Sometimes, a mortgage loan does not offer the terms you need to buy a piece of land and construct your dream home on it. Your financing options can vary, but you should always research the application process and all financing options first to find the best initial funding source that also gives you fair monthly payments.

Homeowners will want to know various details about the loan process and loan application, such as your loan rates, closing costs, refinancing options, mortgage payments, disclosures, and loan terms.

Don’t waste your time trying to figure out all of the requirements and regulations you must understand to purchase land in Florida with a land loan. The best loan officers can tell you exactly what you need to do because they will listen to your needs, and match your needs to the right loan. Once you have been approved for a land loan you will be able to begin construction on your new home in your own time.

If you’re looking to explore land and lot loans in other states, check out our national overview of land loans as a starting point in your search.

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Joshua Holt

Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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