BECU Loan Options

 Mortgage Type:
15 Year Fixed - Land Loan
 Advantages:
  • Member wants to purchase land now and build later
  • Member owns land and wants to refinance to lower rate/payment only
  • Member owns land and wants to refinance to take cash-out refinance
  • Parcels up to 20 acres
  • Purchase loan amounts to $400,000
  • Refinance loan amounts to $100,000
  •  Best Choice If:
  • Member is looking to purchase improved or unimproved property or refinance improved land.
  • Wants a stable fixed rate payment.
  •  Disadvantages:
  • Only available for properties in Washington and Idaho.
  • No large structures or mobile homes are allowed on the property.
  • There can be no construction of any sort in progress.
  • Cannot be used for commercial, agricultural, timberland or farming.
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