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Metro Detroit • 31 mortgage lenders profiles
Land Loans in Metro Detroit
Compare verified lenders for vacant land and lot loans in Metro Detroit, from Detroit city lots to rural acreage. Request a consultation and buy with confidence.
5Featured pros
31Mortgage Lenders profiles
6Metro counties
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Rebuild Detroit is not a lender or mortgage broker, does not make credit decisions or quote rates, and information here is general, not financial advice.
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Featured land loan pros
Top Land Loans Pros in Metro Detroit
Featured spots are paid placements shown first. The Verified badge records dated checks; other listed businesses have not been verified yet. Confirm current licensing, insurance and written scope with each provider.
I AM Funding
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Jalen Scott Mortgage Broker
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Kin Capital Mortgage
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Kudos Financial
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Before you hire
Land Loans in Detroit: what to expect
A land loan in Detroit finances vacant land: a city lot for an infill home, a side lot next to your house, or acreage in Livingston, Lapeer or St. Clair County. Land lending is riskier for lenders than home lending because there is no house to secure the loan, so fewer lenders offer it and terms are usually shorter with a larger down payment.
Lenders sort land by how ready it is to build. Improved lots with road access, utilities and zoning in place are easier to finance than raw land. In outer counties, lenders may ask about perc tests, septic and well approvals from the local health department. In Detroit, check zoning and any deed restrictions on lots bought from public sellers.
Local banks and credit unions are the most common land lenders. If you plan to build soon, a construction loan can sometimes include the lot. Compare Metro Detroit lenders.
What a good engagement includes
- Review of the parcel, zoning, access and utilities
- Land appraisal or valuation
- Survey and title review for easements and liens
- Discussion of septic, well or sewer availability
- Written terms with the loan length and any balloon
- Plan for converting to a construction loan, if building
- Loan disclosures appropriate to consumer or business purpose
What drives the fee
- Improved lot versus raw land
- Down payment and loan-to-value
- Loan term and any balloon payment
- Credit score and income
- Your building timeline and plans
- Survey, perc test and appraisal costs
- Property taxes and liens found in title work
Rebuild Detroit does not publish fees. Ask each attorney to explain the fee basis in writing and compare.
Licensing and disclosures in Michigan
Michigan licenses mortgage brokers, lenders and servicers through DIFS (the Department of Insurance and Financial Services), and individual mortgage loan originators need their own license unless an exemption applies. Banks and credit unions are exempt from the state company license, and their loan officers are registered in NMLS instead. Either way, the NMLS ID must appear on applications and ads: look it up on NMLS Consumer Access.
Before you close, confirm zoning and buildability with the local planning or building department (BSEED in Detroit), and have a title company check for unpaid taxes and liens.
Verify: NMLS Consumer Access lookup DIFS: Mortgage brokers, lenders and servicers File a complaint with DIFS How We Vet
How to compare attorneys
- Ask local banks and credit unions whether they lend on your type of land.
- Compare down payment, term and balloon terms in writing.
- Ask whether the lender can roll the land into a construction loan.
- Confirm what surveys or tests the lender requires before closing.
- Check each lender on NMLS Consumer Access.
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Common questions
Land Loans FAQ
Yes. Local banks and credit unions most often lend on land, usually with a larger down payment and shorter term than a home loan.
Whether the land is improved or raw, your down payment, credit, the term and any balloon. Rebuild Detroit does not quote rates.
Many small lots are bought with cash, but some lenders finance them or fold them into a construction loan. Ask lenders early.
Call local banks and credit unions in the county where the land sits, then compare their written terms.
Get land loan consultations from local pros
Compare Metro Detroit mortgage lenders and confirm credentials, scope and cost drivers before you hire.