Understanding Land Loans
Eastern Washington has no shortage of land, from building lots outside Spokane to acreage on the Palouse and forest parcels in Stevens, Ferry and Pend Oreille counties. Financing land is different from financing a house, and fewer lenders do it well.
Jake helps buyers understand which land financing options fit their parcel and plans, whether they want to build soon, hold the land for the future or buy recreational property.
Who it's a good fit for
- Buyers planning to build a home
- Rural acreage and recreational land buyers
- Owners purchasing a lot next to their existing property
Key details
- Raw land without utilities or road access is viewed as higher-risk than improved land with utilities.
- Land loans usually require a larger down payment and may have shorter terms than home loans.
- Legal access, zoning, water, septic feasibility and distance to power all affect financing.
- If you plan to build soon, a construction loan may cover both the land and the building.
Land Loans questions
Can I finance raw land with no utilities?
Often, yes, though raw land typically requires more money down and stricter terms than improved land.
Do I need a survey or perc test?
Lenders frequently want to confirm the parcel's boundaries, legal access and septic feasibility. Requirements depend on the property and the loan.
Can I build on the land later?
Yes. Many buyers finance the land first and build later. Jake can talk through how a future construction loan would work.
Land Loans financing around Eastern Washington
- Pullman, WA: Used for building lots and small acreage on the edges of Pullman.
- Walla Walla, WA: For vineyard-adjacent and rural parcels around Lowden, Touchet and Dixie.
- Whitman County, Washington: For building sites and rural acreage across the Palouse.
- Franklin County, Washington: For building sites and acreage near Eltopia, Mesa and Basin City.
- Adams County, Washington: For building sites outside Othello and Ritzville.
- Garfield County, Washington: For recreational and building land toward the Blue Mountains.
- Lincoln County, Washington: For acreage and building sites west of Spokane.
- Stevens County, Washington: For forested acreage and building sites north of Spokane.
- Ferry County, Washington: For forest, recreational and building land in the Kettle River country.
- Pend Oreille County, Washington: For building sites and acreage in the Selkirk foothills.
Related programs
DSCR Loans for Investors
Investment property loans that qualify on the property's rental income, not your personal income.
Learn moreHard Money Loans
Short-term, asset-based financing for fix-and-flips, bridge loans and time-sensitive deals.
Learn moreCommercial Real Estate Loans
Financing for multifamily, mixed-use, retail, office, industrial and owner-occupied commercial property.
Learn moreInformation on this page is general and educational. Loan approval, terms and eligibility depend on your full application, credit, property and current program guidelines.