Lot Loans for Your Future Home Site

Sometimes the right first step isn’t building your home, it’s finding the land. A lot loan from Bank of Utah lets you secure the site for your future home now, while giving you time to finalize plans, choose a builder and prepare for construction.

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With a Bank of Utah Lot Loan, You Can:

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Secure the Right Location

Purchase the lot that fits your vision now and secure your future homesite while your plans and building timeline are still taking shape.

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Plan Around Your Budget

Talk through how a lot payment fits with your current housing costs, savings and future construction plans so you can move forward with clarity.

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Prepare for What Comes Next

Work with a loan officer who understands both lot and construction financing, so your land purchase and future home loan stay in sync.

How Lot Loans Work

Lot loans work differently than a traditional home mortgage. Your financing focuses on the land today, with an eye toward the home you plan to build in the future.

1

Review the lot and its details

Your loan officer will talk through location, access, zoning, utilities and other factors that can affect financing and your future construction plans.

2

Close on the lot loan and begin payments

Once approved, you close on the lot purchase and begin making monthly payments based on your loan amount, rate and term.

3

Transition when you’re ready to build

When your home plans, budget and timing are in place, we’ll talk through options for construction or long-term financing so your lot and home loans work together.

Loan structures and timelines can vary. Your loan officer will walk you through what to expect for your lot, location and future build plans.

Lot Loan Guidelines

Lot Loan FAQs

+ Do I have to start building right away?
Not necessarily. Lot loans are designed to give you time to prepare for construction. Your loan officer will explain any timing expectations, such as how long you can hold the lot loan before you plan to build.
+ What can I use a lot loan for?
Lot loans are typically used to purchase land where you plan to build a home in the future. Your loan officer can clarify whether a specific property, subdivision or acreage fits within our guidelines.
+ How much do I need for a down payment on a lot loan?
Down payment requirements can be higher for land than for an existing home. We’ll review your finances, the lot value and other details, then talk through what down payment range is realistic for your situation.
+ Can my lot loan be rolled into a construction loan later?
In many cases, clients explore construction or long-term financing options when they are ready to build. We’ll talk about how your lot loan, equity and future home budget can work together as you move into the building phase.
+ Are there special considerations for utilities or access?
Yes. Whether the lot has road access, water, sewer or other utilities can affect both your build costs and financing options. We’ll help you understand what to look for and how those details factor into your loan.

Talk With Us About a Lot Loan

Have a property in mind or just starting to explore locations? We’ll help you look at numbers, timelines and options so you can move toward your future home with confidence.

All loans subject to credit approval. Terms and conditions may apply.