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.

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Land loan program details

Rates as low as 4.750% APR*

Terms available from 1 – 10 years

Finance up to 75% of the purchase price

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

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

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

How can we help?

Our dedicated Loan Officers are here to answer your questions. Contact your local branch for a land loan expert right around corner.

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Current rates

Type Rate APR Monthly Payment (per $1,000) Points
Adjustable Rate Mortgages

5 & 1 Fixed Variable

5375.% 5.750% $5.60 0

7 & 1 Fixed Variable

5.500% 5.816% $5.68 0

7 & 3 Fixed Variable

5.625% 5.693% $5.76 0

10 & 5 Fixed Variable

5.750% 5.819% $5.84 0

Convertible

4.750% 6.180% $5.22 0

1 Year Adjustable Rate Mortgage

4.750% 6.180% $5.22 0

3 Year Adjustable Rate Mortgage

4.875% 5.693% $5.29 0

40 Year Mortgage

5.625% 5.894% $5.24 0
Land Loan

1 – 10 Years, 25% Down Payment

4.750% 6.080% $10.48 0
Fixed Rate Mortgages

15 Year

5.625% 5.740% $8.24 0

20 Year

6.125% 6.221% $7.24 0

30 Year

6.500% 6.575% $6.32 0

40 Year

7.000% 7.069% $6.21 0
First Time Home Buyers

30 Year Fixed

6.250% 6.415% $6.24 0

*APR = Annual Percentage Rate

All mortgage annual percentage rates (APR) are for 1-4 unit owner occupied primary residences, based on 20% down payment. APR’s may vary with lesser down payment. All mortgages with a loan to value of 80% and over require Private Mortgage Insurance (PMI). Rates subject to change without any prior notice. Please call for detailed guidelines.

Subject to credit union underwriting approval. Taxes and insurance are not included in the payment examples.

The interest rate on ARM loans may increase after the initial fixed rate period following closing.

Award-winning service

2020 Best of Central Mass winner award badge

2020 Winner: Best of Central Mass

2019 Winner: Best of Central Mass

Rated 5 Stars by Bauer

2018 Winner: BBB Marketplace Excellence

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.

Program subject to change without prior notice.

*APR = Annual Percentage Rate

All mortgage annual percentage rates (APR) are for 1-4 unit owner occupied primary residences, based on 20% down payment. APR’s may vary with lesser down payment. All mortgages with a loan to value of 80% and over require Private Mortgage Insurance (PMI). Rates subject to change without any prior notice. Please call for detailed guidelines.

Subject to credit union underwriting approval. Taxes and insurance are not included in the payment examples.