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Routing Number: 272479663 Swift Code: MSUCUS44
 
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SmartLine Home Equity Loan
SmartLine Home Equity Loan
Vacant Land Loans
Whether buying land to build a new home or for recreational use, MSUFCU's Vacant Land Loan is available for property in Michigan.

• Fixed or adjustable rates with 10 and 15 year terms
• Lot Loan rates as low as 7.375% (3/1 ARM)
• As low as 20% down for Lot Loans for new construction within two years
• Recreational Land rates as low as 8.625% (15 Year Fixed)
• As low as 25% down for Recreational Land loans
• Loan amounts up to $1,000,000

Special Offer:
Members receive a $500 credit if they finance a Construction Mortgage Loan with MSUFCU on property financed with MSUFCU within two years.

Questions? Ready to apply? Contact our Mortgage Officers directly by phone at 517-333-2424 extension 2105, schedule an appointment, or request further information below.

Our Mortgage team is dedicated to assisting you with your lending needs. Contact us today to receive further information regarding our Vacant Land Loans. This form is monitored daily and responses from our Mortgage team can be expected within one business day.

If you prefer to contact us by phone, the direct phone number to the Mortgage team is 517-333-2424 extension 2105.

Vacant Land Loan Contact

Get FilePrivacy Policy
Get FileBorrowers Bill of Rights
Get FileConsumer Caution and Home Ownership Counseling Notice Get FileElectronic Correspondence Disclosure and Agreement
Get FileMortgage Information
Get FileNationwide Mortgage Licensing Systems IDs
Get FileHome Mortgage Disclosure Act Notice Get FileConsumer Handbook on Adjustable-Rate Mortgage
Get FileCFPB Your Home Loan Toolkit

Vacant land loans are only available for property in Michigan. Construction home loans are only available in Michigan. Rates are based on creditworthiness, loan-to-value (LTV), property type, and other factors associated with your loan application, your rate may be higher.
There is an origination fee as low as $995 to process the mortgage loan. Rates can be locked at your request, once a complete application has been submitted.

Construction Mortgage Special Fine Print
MSUFCU members who finance a land purchase with a new MSUFCU vacant land mortgage loan will receive a $500 lender credit on a MSUFCU Construction mortgage loan if approved and closed within two years. Both loans must be on the same property. Subject to change and cannot be combined with any other mortgage offers.

Fixed-Rate Vacant Land Mortgage Loan Payment Example: A Michigan property, vacant land, lot loan with intent to build a primary residence within two years, with a purchase price of $62,500 with 20% down payment, all borrowers with credit scores of 740 or higher, the mortgage for $50,000 borrowed at a 7.75% interest rate (8.291% APR) for a term of 180 months would require monthly payments of $470.64. Payment example does not include property taxes and your monthly payment obligation will be higher. Credit and collateral is subject to approval. Example interest rate was available 01/02/2024 at 9am. Rates, terms, and conditions are subject to change at any time based on market conditions or other business factors. Equal Housing Lender.

3/1 ARM Vacant Land Mortgage Loan Payment Example: A Michigan property, vacant land, lot loan with intent to build a primary residence within two years, with a purchase price of $62,500 with 20% down payment, all borrowers with credit scores of 740 or higher, the mortgage for $50,000 borrowed at a 7.00% interest rate (7.660% APR) for a term of 180 months would require monthly payments of $449.41. Payment example does not include property taxes and your monthly payment obligation will be higher. With a 3/1 ARM, your loan will have an initial fixed-rate period of 36 months. After the fixed-rate period, your interest rate will adjust up or down according to market rates at the time of the reset. Rate is variable after the fixed-rate period and subject to change every year for the remaining life of the loan. Credit and collateral is subject to approval. Example interest rate was available 01/02/2024 at 9am. Rates, terms, and conditions are subject to change at any time based on market conditions or other business factors. Equal Housing Lender.