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Maine Land Loans

  • Local decision making
  • Experienced lenders
  • Competitive down payments
  • Even lower interest rates when you put 35% or more down

Competitive land loan options

Choose to increase your down payment to obtain an even lower rate. Pick the adjustable rate mortgage that best fits your individual needs.

Not looking to build for another five years? Finance the land with an adjustable rate mortgage which will lock into a fixed rate for the first five years. When ready to build after five years, simply refinance to our single closing construction loan.

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Learn how we can customize a land loan to fit your individual needs.

Land loan rates & terms

Down Payment (35% or more)
Loan 1 Yr* 3 Yr Fixed/ 1 Yr Adj* 5 Yr Fixed/ 1 Yr Adj*
Rate 7.125% 7.250% 7.625%
Margin 2.750% 2.750% 2.750%
APR 7.904% 7.784% 7.869%
Prepaid Finance Chg $1,670.00 $1,670.00 $1,670.00
Payment $1,409.08 $1,422.68 $1,463.86
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Down Payment (less than 35%)
Loan 1 Yr. 3 Yr Fixed/1 Yr Adj 5 Yr Fixed/1 Yr Adj
Rate 7.625% 7.750% 8.125%
Margin 3.250% 3.250% 3.250%
APR 8.405% 8.283% 8.370%
Prepaid Finance Chg $1,670.00 $1,670.00 $1,670.00
Payment $1,463.86 $1,477.71 $1,519.63
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*Interest rates are .50% higher with less than 35% down

The interest rate and fees are valid as of June 14, 2024. Contact Bath Savings Institution for up-to-date rates and terms. All loan payments are based on a $180,000 note amount and a monthly payment schedule. Potential applicant must be aware that the APR on adjustable rate loans is subject to increase after consummation. Actual loan qualifying is subject to verification and approval of income, credit, property appraisal, and other factors. Rates, fees and programs are subject to change at any time without prior notice.