Land Loans

Land Loans in Oklahoma

• Competitive rates
• Available for unimproved land and improved land lots
• A wide range of terms customized to your unique situation
• Helpful loan advisors with working knowledge of the local real estate market
• No pre-payment penalty
• Refinance your current loan to potentially lower your rate
• Local decision-making and processing in Central Oklahoma
• Personalized service from lenders you can trust

All loans subject to credit approval.

What is a land loan?

A land loan provides financing for the purchase of a land lot that doesn’t have a house on it. People purchase land for a variety of reasons, including to build a home on or to farm on. There are two types of land lots:

• Unimproved land:

  Similar to raw land, but may have utility access or older structures.

• Improved land:

  Ready to build on–for example, a lot in a planned development.

A land loan can help you purchase a land lot, but you’ll need a construction loan to build a home on your land. The benefits of a land loan include the ability to build on your own timeline, whether that’s in the near future or years away. You can build your dream home and landscape the property as desired.

Apply Online for a land loan in Oklahoma!

To start the land loan application process, you can apply online, contact us, or visit your nearest branch location in Edmond, Guthrie OK, Kingfisher OK, Piedmont OK, Crescent OK, Yukon, OK, Greater Oklahoma City.

What types of land loans does F&M Bank offer?

At F&M Bank, we offer loans for both improved and unimproved land. Improved land refers to properties with existing infrastructure, such as utilities, roads, and other essential services. Unimproved land, on the other hand, may have limited or no infrastructure in place. Please note that we do not offer loans for raw land. 

What is the difference between improved and unimproved land?

Improved land is property with existing infrastructure, such as utilities, roads, and other essential services, making it ready for development or construction. Unimproved land, on the other hand, may have limited or no infrastructure in place, requiring additional investments to develop the property. F&M Bank offers loans for both types of land, but not for raw land.

Can I use a land loan to finance the construction of a home or commercial property?

You can use a land loan to finance the purchase of the land. F&M Bank offers new construction loans and commercial construction loans to help you build on your land. Our lending experts can guide you through the process and help you find the right loan product for your needs.

What are the requirements to qualify for a land loan from F&M Bank?

To qualify for a land loan from F&M Bank, you will need to meet our credit and income requirements. We will also evaluate the property's value, location, and intended use to determine eligibility. 

Can I refinance my existing land loan with F&M Bank?

Yes, F&M Bank offers refinancing options for existing land loans. Refinancing can potentially help you lower your interest rate, reduce your monthly payment, or access equity in your property. Our loan specialists can help you determine if refinancing is the right option for you.

How can I make payments on my land loan?

F&M Bank offers convenient digital banking services for making loan payments, including online and mobile banking. You can also make payments by mail or in person at one of our branch locations. For additional payment options and assistance, please contact us.