Land Loan Interest Rates
Long-term financing for rural real estate is our specialty. As a lending institution that is owned by our borrowers, we are able to offer competitive land loan interest rates with a variety of options.
We care about your success. Together we’ll choose the right loan for your needs and goals.
What Is the Current Interest Rate on Land Loans?
Because of market fluctuation and other factors, land loan interest rates change regularly. However, we have an advantage that many other banks and lending institutions don’t have.
Plains Land Bank is a cooperative and our members receive what is called “cash patronage.” Through our program, the institution annually divides patronage to our borrowers, all of whom own stock in the co-op as a percentage of their loans. Once you finish repayment on your loan, your stock is refunded back.
How Long Can You Finance a Land Loan?
Simply put, when you work with Plains Land Bank, you’ll find that our loan terms are flexible. From more aggressive repayment structures to payment options that accommodate your financial situation, we can offer you several options to choose from. Interest rates are competitive, regardless of your loan choice.
- Loan terms of five to 20 years
- Fixed rates for the life of the loan
- Variable rates
- Monthly, quarterly, semiannual and annual payment options
- Personalized interest rate programs
Whether you need to finance a rural residence on a piece of land or new outbuildings to store implements on your existing land, we have loan officers who are equipped to handle any request. Our interest rates reflect our commitment to our members and we will work to give you the best rates we can.
How Difficult Is It to Get a Land Loan?
Obtaining a loan for a piece of property in the Texas Panhandle and South Plains can be achieved in a few easy steps. Rural lending rates generally depend on a few factors.
When you borrow, a suitable credit score will be required. Land loan interest rates always vary but good credit and a lower debt-to-income ratio will always be considered when an interest rate is determined. Plains Land Bank knows the ins and outs of land loans and related loan types. We have several conveniently located credit offices with Loan Officers that will guide you through your loan process from start to finish. Visit one of our locations in Amarillo, Pampa, Perryton or Plainview today.
You can also begin an estimation of your loan with our online loan calculator.