Residential lot loan

A residential lot loan is used to purchase non-income producing, land up to a maximum of 40 acres. You can use this loan to buy the land you want to build your new home on.


  • Affordable payments with minimal closing costs.
  • Stable monthly payment.
  • Source of down payment is flexible.
  • Think retains servicing


  • Loan term/amortization
    3 year term with 15 year amortization
  • Loan purpose
    Purchase only.
  • Eligible property types
    Non-income producing lot. Maximum 40 acres.
  • Loan limits
    Generally $10,000 to $100,000. Higher limits available upon review.
  • Interest rate
    Fixed for term of loan.

How to apply:

Apply online, visit one of our branch locations or call us at 1-800-288-3425.

* APR = Annual Percentage Rate.
Payment example: A 3 year $25,000 fixed rate residential lot loan at 4.593% APR* has approximately 36 monthly payments of $184.80 with a final balloon payment of $21,118.59. 20% downpayment required.
Payment does not include amounts for taxes and insurance and the actual payment obligation may be greater. Rate current as of October 1, 2019 and is subject to change. Origination fees may vary from $0-$1500. Other closing costs may apply. Lot loans are available within a select area of Minnesota and may not be available in all Minnesota counties.
Residential lot loans are available for properties in Minnesota to existing customers, or new customers who live or work in Minnesota.