Land Loans

Finance your lot purchase with Webster First

You’re purchasing much more than a lot of land. It’s where you’ll build your home. The place where family comes together, memories are made, and futures are planned.

At Webster First, we understand how important financial decisions with new homes can be. That’s why our commitment is to you, and understanding your unique needs. We’ll help you make the right decision, so you can focus on what really matters.

Apply Now

Land loan program details

icon depicting a percent symbol inside a circle

Rates as low as 6.250% APR*

icon depicting a calendar

Terms available from 1 – 10 years

icon depicting a map location marker

Finance up to 75% of the purchase price

icon depicting a hand with a dollar symbol crossed out

No pre-payment penalties: shrink your term by making extra payments to your principal balance

icon depicting a house with a hammer

Finance construction of your new home once your land loan is complete with our construction loans

Current rates

Type Rate APR1 EMP2 (per $1,000)
Adjustable Rate Mortgages
5&1 Fixed Variable 6.375% 6.839% $6.24
7&1 Fixed Variable 6.500% 6.829% $6.32
7&3 Fixed Variable 6.625% 6.716% $6.40
10&5 Fixed Variable 6.875% 6.968% $6.57
Convertible 1 Yr Adjustable 6.250% 6.906% $6.16
1 Year Adjustable 6.250% 6.906% $6.16
3 Year Adjustable 6.375% 6.557% $6.24
7&1 Variable 40 Year 7.125% 7.208% $6.31
Land Loan³ 6.250% 6.935% $11.23
Fixed Rate Mortgages
15 Year 6.750% 6.901% $8.85
20 Year 6.875% 6.997% $7.68
30 Year 7.125% 7.221% $6.74
40 Year 7.625% 7.713% $6.67
First Time Homebuyers 7.000% 7.060% $6.65
1:APR = Annual Percentage Rate. 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.
2:EMP = Estimated Monthly Payment.
3:Land loans 1-10 years, 25% downpayment

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.

Sign up on your mobile or desktop

With a single log-in, navigate all aspects of the home buying journey on your preferred device.

To start your loan inquiry in Spanish, click the “Español” button on the account creation page.

Calculate your mortgage options

Easily explore mortgage scenarios to see what you can afford and what your mortgage payments will be.

No need to wait on your loan officer to run calculations for you. This is self-service at its best.

Get pre-approved

Fill out an application from anywhere to get your letter fast.

Don’t waste your time (or paper!) with printed applications or complicated forms.

Authorize credit reporting

Authorize your Loan Officer to run your credit report with the click of a button.

You’ll enjoy having one less paper form to sign and submit.

Automatically verify your information

Verify your income, employment, and assets automatically in the platform.

This means fewer paperwork hassles for you and a faster application process.

Securely scan documents

Upload required documents with our built-in mobile scanner. It’s encrypted and completely secure.

No need to fuss with a physical scanner, unsecured emails, or trips across town.

Get real-time status and notifications

See where your loan is at in the process and what steps you have ahead of you.

Receive notifications when you have new tasks and important updates.

Sign disclosures

Receive and eSign disclosures with ease.

If any documents need to be physically signed, you can print, sign, scan, and upload from your mobile device.

Buy homeowners insurance

Complete your required homeowner insurance tasks before closing.

Upload proof of existing insurance, or compare rates and coverage and purchase a new policy within the platform.

Provide consent

Easily give consent for necessary steps, including the use of electronic signatures and information release authorization.

How can we help?

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: 8:00 a.m. – 7:00 p.m.
Friday: 8:00 a.m. – 5:00 p.m.
Saturday: 8:00 a.m. – 12:00 p.m.
Sunday: Closed

Apply Now

Protect the home you build on your lot

It’s never too early to start thinking about insurance. Ensure that what you build on your new land lot will be protected with homeowners insurance, offered by WebFirst Insurance, LLC., a subsidiary of Webster First.

WebFirst Insurance experts will work with you to determine the right coverage for your needs, and then search their network of carriers to find the right price.

Learn More

Award-winning service

Webster First Rated 5 Stars by Bauer June 2023

Rated 5 Stars by Bauer

2022 Top Lender: Banker & Tradesman

2022 Winner: Best of Central Mass

Why choose Webster First?

Smart money decisions are in our DNA

Webster First is one of the most well capitalized credit unions in Massachusetts as a result of our hard work and determination to make the best possible financial decisions. With our experience and dedicated team, we’re confident we can help you make the right financial decisions too.

Local, neighborly know-how

Our roots are in Massachusetts, opening our first branch in the small town of Webster back in 1928. Since then we’ve grown to over $1.2 billion with over 80,000 members who trust us with their banking. Since our lending team is locally grown too, they personally care about the success of their neighbors and community.

Authenticity you can trust

As New Englanders, we believe in being upfront and honest. You can expect straightforward answers to all your mortgage questions. Each relationship starts with trust and it’s the cornerstone of our acclaimed member service.