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SECURE THE PERFECT SPOT AND LOAN FOR YOUR DREAM HOME

Found the perfect land to build your dream home? A lot or land loan1 from Old National provides the financing you need to make it your own now.

Mortgage Calculators | Current Rates | Apply Online Now | Connect with a Mortgage Expert 

  • A vacant piece of land a client is looking to buy

    LOT OR LAND (UP TO 5 ACRES)

    Loan Programs available:

    • 15-Year Fixed Rate2 fully amortized purchase loan. Or,
    • 5/6 mo ARM with 20-Year fully amortized program3.
    • 20% minimum down payment required or lot equity in refinance transactions.
  • A couple with some blue prints imaging what their home could be on a piece of land

    BENEFITS AND FEATURES OF LOT & LAND LOANS

    • Plan to build over the next 12 months
    • Repayment options to fit your budget
    • Lot and Land loans can finance purchases of residential lots or refinancing of existing lot loans
    • And when you’re ready to build, we offer our One-Step Construction Loan

Connect With a Mortgage Expert

If you have questions, please submit our information request form or contact your nearest Old National mortgage expert.

IS A CONSTRUCTION TO PERMANENT LOAN RIGHT FOR YOU?

You may be able to build your dream home from the ground up. This financing option gives you the opportunity to turn your plans into reality.

Learn How It Works

BUYING YOUR FIRST HOME

Download our first-time homebuyers guide to help guide you through the home buying process.

Get our Guide

DETERMINING YOUR BUDGET

Knowledge is power. Our calculators will help you compare loans, calculate potential payments, and see differences in rates.

Find Your Budget

1 Subject to credit review and approval. Maximum loan amount is $500,000. Geographic limitations and other restrictions may apply. Program conditions are subject to change without notice. Rates are subject to change daily. Contact an Old National Mortgage Lender for complete product details.
2 Interest rate example for a 15-year fixed rate loan as of xx/xx/xxxx:  x.xxx% / x.xxx% Annual Percentage Rate (APR) based on a $xxx,xxx loan at 180 months, a down payment of $xx,xxxx, origination fee of $xxx.xx and a monthly payment of $xxx.xx.
3 Interest rate example of how an ARM loan would be calculated: On a $80,000, 5/6mo ARM amortized over 20 years with an initial interest rate of 5.000% with an annual percentage rate of 5.087%. After the fixed period of 5 years the rate may increase every six months; individual adjustments are capped at 2% for the first adjustment, 1% for subsequent adjustments and the rate can never increase by more than the lifetime cap of 5%. A payment example would be as follows based on a fully capped interest rate of the loan: Months 1-60 at 5.000% rate with a payment of $527.96, Months 61-66 at 7.000% rate with a payment of $600.10, Months 67-72 at 8.000% rate with a payment of $637.01, Months 73-78 at 9.000% rate with a payment of $674.03, and Months 79-240 at 10.000% rate with a payment of $711.08. The monthly payment may change when the interest rate on an adjustable rate mortgage is reset. After the initial fixed-rate period, your interest rate can increase every 6 months according to the market index. Current index (30-day avg SOFR) as of March 15, 2022, is .050%. The current index plus Margin rounded to the nearest Pl0.125 is 3.000%.