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Lot Loans

Location, Location, Location!
Once You Find The Perfect Spot, Secure It By Locking It In With A Lot Loan!

You could also be a business visionary, looking to expand to an underdeveloped area.

Here at NorthPort Funding, in addition to offering construction loans for your build, we offer lot loans for the land.

Raw Lot Loan

We offer loans for raw, undeveloped land with no electricity, roads or utility access. If you’re looking to go off the grid, we can help you achieve your dreams.

Unimproved Lot Loans

We offer loans for unimproved land lots which have electricity and road access, but lack other features like a gas meter or a phone line. Unimproved lot loans tend to have lower interest rates compared to raw land loans, and a lower down payment requirement.

Improved Lot Loans

The most developed type of land, improved lots have access to all utilities and infrastructure a modern home is expected to have. Out of the three types of lot loans NorthPort offers, these carry the lowest interest rates and down payment requirements.


Every client we do business with is unique. Every piece of land and every build plan has its merits and downsides. Here are some general characteristics of a lot loan:

  • Considering that raw land can be a risky investment, getting approved for a lot loan may require a higher credit rating than a traditional mortgage

  • Down payments for lot loans usually start at 20% of the total cost, depending of the development level of the lot

  • The more detailed plan of the intended build you already have, the higher the chances of getting a loan approved, and under more favorable conditions

Once you develop your dream home or business property, we offer refinancing plans to convert your land loan into a traditional mortgage.


What Is The Difference Between A Construction Loan And A Lot Loan?

Both loan types are aimed at borrowers who are yet to build their home.

A lot loan finances the land you intend to build on. A construction loan finances the materials, labor and other costs of constructing a new home.

If you have your eyes set on a piece of land you don’t want to build on straight away, a lot loan is the better choice.

Construction loans are better for people who already financed the land and have a full construction plan waiting to unfold straight away.


Contact NorthPort Funding today and see which type of loan suits your specific situation best!

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