Secure the property you need.
Dreaming of building that forever home? Looking for an investment in your future? Whatever your vision for owning your own piece of land in Minnesota, we can help bring that vision to fruition.
Our Land Loans include:
- Ability to borrow up to 80% of the land's value*
- Competitive rates
- Low closing costs
- 5 year balloon payments with 10, 15, and 20 year amortizations
- No penalties for pre-payments of early payoffs
- Your loan always stays with HomeTown
Payment Example: $332.32 per month for $50,000 at 6.99% APR with a 5 year balloon payment.*
Contact our Land Loan Experts for current rates and to apply!
Bruce Moore
MLO# 400727
150 18th Street SW
Owatonna, MN 55060
bmoore@hometowncu.coop
(507) 455-6735
Tuan Phan
MLO# 553997
2000 Honeylocust Dr., Northfield, MN 55057
1205 Hwy 60 West,
Faribault, MN 55021
tphan@hometowncu.coop
(507) 646-9303
*Rates subject to change and are based on creditworthiness. Borrow up to 80% of the appraised value or purchase price, whichever is less. 6.99% APR rate is based on a 15 year amortization. There is no minimum term; the maximum term is 5 years with up to a 20 year amortization. There is no minimum loan amount but the maximum is $100,000. Late payment fees of $25.00 and processing fees may apply and would be above and beyond the initial monthly loan cost.