Thank you for inquiring about a Land Loan with First Reliance Federal Credit Union. We hope the following will answer many of the questions you may have about this product. If you have more questions or are ready to proceed with the Land Loan Application Process, please call us at (706) 613-1644. We look forward to working with you!

• Unimproved property or raw land loans will be processed and administered by, with the assistance of a local attorney for legal documents.
• The maximum land loan amount shall be $100,000.00.
• The credit union will loan a maximum of 90% of the appraised value.
• The maximum maturity for any land loan will be 15 years.
• The interest rate will be Prime + ½% Fixed on land loans with a term of
  0 to 10 years. And a rate of Prime + 1% Fixed will be applied to loans with a term of 11 to 15 years. (Floor Rate of 7.0%.)
• The attorney will perform all closings on the land loans for the credit union.
• The member will be responsible for all closing costs and fees.
• Land loans will be housed and serviced by the credit union.