Secure your plot, build your dream
Secure the financing you need to buy land and worry about building your dream property later with a Webster First land loan. Our loan experts are here to help guide you from application to closing.
Apply NowTo apply, you must be 18 years of age or older and live, work, worship, or attend school in Essex, Middlesex, Suffolk, or Worcester County.
Land loan program details
Enjoy competitive rates that make financing more affordable. Rates as low as 5.598% APR1
Choose from terms available between 1 and 10 years, tailored to suit your timeline.
Finance up to 75% of the purchase price, giving you more financial flexibility.
Pay off your loan faster by making extra payments to your principal balance without additional charges.
Whether you’re planning to build now or later, we’re here to support your goals every step of the way.
Home lending rates
| Type | Rate | APR1,4 | EMP3 (per $1,000) |
|---|---|---|---|
| Adjustable Rate Mortgages12 | |||
| 5&1 Fixed Variable12 | 5.875% | 5.978% | $5.92 |
| 7&1 Fixed Variable12 | 6.000% | 6.104% | $6.00 |
| 7&3 Fixed Variable12 | 6.125% | 6.230% | $6.08 |
| 10&5 Fixed Variable12 | 6.250% | 6.357% | $6.16 |
| Convertible 1 Yr Adjustable12 | 5.375% | 5.473% | $5.60 |
| 1 Year Adjustable12 | 5.375% | 5.473% | $5.60 |
| 3 Year Adjustable12 | 5.625% | 5.725% | $5.76 |
| 7&1 Variable 40 Year12 | 6.250% | 6.341% | $5.68 |
| Land Loan11,12 | 5.375% | 5.598% | $10.79 |
| Fixed Rate Mortgages | |||
| 15 Year | 6.125% | 6.301% | $8.51 |
| 20 Year | 6.750% | 6.897% | $7.60 |
| 30 Year | 6.875% | 6.988% | $6.57 |
| 40 Year | 7.250% | 7.352% | $6.40 |
| First Time Homebuyers | 6.750% | 6.822% | $6.49 |
4:All mortgage APRs are for 1-4 unit owner occupied primary residences based on 20% down payment. APRs may vary with lesser down payment. All mortgages with a loan to value of 80% and over require Prime Mortgage Insurance (PMI). Rates subject to change without prior notice. Zero points on all mortgages. Guidelines available upon request.
3:EMP = Estimated Monthly Payment.
11:Land loans 1-10 years, 25% downpayment
12:ARM loans are variable rate loans, interest rates and payments may increase after consummation. Rates and payments will remain the same for the first 5, 7, or 10 years and then can adjust to a new rate and payment every 1, 3 or 5 years based on a current index, depending on the ARM program you choose. For example, if you select the 5 & 1 Fixed Variable program your rate and principal & interest payment will be fixed for the first 5 years (the 5 in 5& 1), after that the interest rate and payment could change every 1 year for the remainder of the mortgage’s term (the 1 in the 5 & 1).
Our mortgage app makes it easy
Looking to buy or refinance a home? Our digital mortgage app makes it easy and convenient.
With one login, you can apply for a loan, complete tasks, securely scan and upload docs, submit payments, check on your loan status, eSign documents, and more. When you start an application online, you’ll find links to download the app to your favorite device.
Take the first step toward your dream home
Your dream starts here. Whether you’re buying your first plot of land or your final one, Webster First is your trusted partner for financing with confidence. Our dedicated loan center team is happy to answer your land loan-related questions or provide assistance with completing an online land loan application.
(774) 823-1665
Monday – Wednesday: 8:00 a.m. – 4:30 p.m.
Thursday & Friday: 8:00 a.m. – 5:00 p.m.
Saturday & Sunday: Closed
Award-winning service
2025: Newsweek Best Regional Banks and Credit Unions
2024 Winner: Best of Central Mass
2024: Newsweek Best Regional Banks and Credit Unions
2023 Top Lender: Banker & Tradesman
2023 Winner: Best of Central Mass
Rated 5 Stars by Bauer
2022 Top Lender: Banker & Tradesman
