Vacant Land Loans in Wisconsin & Minnesota

Vacant Land Loan Features

As your trusted community bank in Wisconsin and Minnesota, we specialize in vacant land loans to help you secure that perfect piece of real estate! You can take out a land loan to purchase land for future construction, farming, recreational purposes or simply as an investment. With Forward Bank’s deep roots in the rural communities, we understand the local landscape and are committed to helping you achieve your goals.

• Competitive interest rates: Benefit from attractive rates tailored to your financial needs
• Loan terms: Choose from a variety of repayment terms to suit your budget and goals
• Local expertise: Work with a team that understands the unique real estate markets in Wisconsin and Minnesota
• Streamlined approval process: Enjoy a straightforward application and loan approval process with personalized support

Who Qualifies for a Vacant Land Loan in Wisconsin or Minnesota?

Buying land is an exciting first step toward building your dream home or making a long-term investment. To help you prepare, here’s a quick overview of what lenders may look for when reviewing vacant land loan applications.

Vacant Land Eligibility Requirements

• Credit Score: Generally, a 680+ credit score is recommended for approval. Higher scores may qualify for better interest rates.
• Down Payment: Expect to provide 20–35% down, depending on whether the land is raw, improved, or part of a development.
• Debt-to-Income Ratio (DTI): A DTI under 43% helps demonstrate you can manage additional debt comfortably.
• Income & Documentation: Proof of steady income (recent pay stubs or tax returns). Self-employed borrowers may need extra documentation.
• Collateral & Appraisal: The land serves as collateral; a professional appraisal confirms its value. Zoning, access, and utilities are reviewed during approval.

What is the Process of Getting a Vacant Land Loan?

Buying land is a big step toward your future; whether you’re preparing to build, invest, or simply secure your perfect property. The process is simpler than you might think. Here’s how it works:

1. Apply: Start your application online or in person with basic details about you and the property you want to purchase.
2. Provide Documents & Appraisal: Submit income and financial information. An appraisal will confirm the land’s value, access, and zoning.
3. Review & Approval: Your lender reviews credit, income, and the appraisal to finalize loan terms and approval.
4. Close & Record: Sign your final documents, pay closing costs, and once recorded, the land is officially yours.
5. Plan Your Next Steps: When you’re ready to build, you can explore options to transition your land loan into construction or long-term financing.

Don’t Forget About Insurance

Purchasing land is an exciting first step—but it’s important to protect your investment while you plan your future build. Vacant land insurance can offer peace of mind and help cover unexpected risks.

Moving Land Owners Forward

Financing vacant land or a property lot to build your dream home can be more complex than a traditional mortgage, but our local lending experts make it easy. We’ll walk you through your options and help you find the best vacant land loan for your goals.

Whether you’re exploring land loans in Wisconsin or land loans in Minnesota, you’ll benefit from local guidance, competitive rates, and a process designed to help you move from land purchase to construction with confidence.