What is a Property Acquisition Loan? What is a Property Acquisition Loan?
Property Acquisition Loans: Secure the Right Property Today, Build on Your Timeline
Finding the right property is often the hardest part of building a custom home or completing a major redevelopment project. Unfortunately, buyers aren't always ready to begin construction when the ideal property becomes available.
Leader Bank's Property Acquisition Loan program helps bridge that gap.
What Is a Property Acquisition Loan?
This program allows borrowers to purchase vacant land or properties that aren't yet ready for traditional financing while they complete planning for a future construction or renovation project.
During this phase, borrowers can make interest-only payments while they work on:
• Home or project plans
• Builder selection
• Budget development
• Permits and approvals
• Construction timing
The program is designed with an eventual transition into construction financing in mind.
A Simple Path From Land Purchase to Move-In
Imagine purchasing a buildable lot today but waiting a year before construction begins.
With a Property Acquisition Loan, you can secure the property, keep payments lower during the planning phase, and take the time needed to make informed decisions about your project.
When plans are complete, the loan can transition into Leader Bank's Construction-to-Permanent Loan program. Funds are then used to pay for construction as work progresses, with interest-only payments during the build.
Once construction is complete, the loan automatically converts to a permanent mortgage without a second closing or refinance.
Why Borrowers Choose Property Acquisition Loans
Leader Bank’s Property Acquisition Loan program offers a range of benefits to borrowers including:
• Buy land now and build later
• Interest-only payments during planning and construction
• No pressure to rush important decisions
• One lender from start to finish
• Seamless transition from acquisition to construction to permanent financing
The right property may not wait until you're ready to build. With a Property Acquisition Loan from Leader Bank, you can secure the opportunity today and move forward with confidence when the timing is right.
Buy now. Plan confidently. Build when you're ready.
Credit approval required; terms and conditions apply. Property Acquisition Loans are available for properties purchased with the intent to build a primary residence in the future; however, any dwelling on subject property may not be occupied by borrower as a primary or secondary residence during the life the term of the loan. Available only for properties located in Connecticut, Massachusetts, Maine, New Hampshire and Rhode Island. For specific rates, terms and conditions, please contact a Leader Bank loan originator.
