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Land Purchases Loan

Lay the Groundwork for Your Future.

Embarking on the journey of acquiring land is a significant step towards building your future. At Eastern Credit Union, we’re here to help turn your vision into reality with our Land Purchases Loan. Offering competitive terms and a hassle-free application process, we make it possible for you to secure the perfect plot of land. Whether it’s for building your dream home, investment, or cultivation, our loan is tailored to support your land acquisition ambitions.

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Repayment Period

Up to 180 months (15 years), providing ample time for repayment.
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Share Requirement

Just 10% of unencumbered shares required per request.
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Interest Rate

An attractive rate of 0.56% per month on the daily outstanding balance.
  • Share Requirement: 10% of the total loan amount in shares.
  • Current Job letter.
  • Recent salary slip.
  • Two forms of ID
    (per applicant)
  • Utility Bill or Bank Statement
    (Members without a utility bill/bank statement in their name are advised to provide a letter from the addressee on the utility bill confirming their address & valid copy of their ID).
  • Financial Statements
    (Bank statement showing credit and loan balances, credit union statements reflecting shares, deposit, and loan balances).
  • Property Documentation
    – Letter of sale or purchase agreement
    – Copy of Deed or Title deed to the property/Certificate of Title
    – Deed of lease (for leasehold land),
    – Copies of up-to-date receipts of lease rental,
    – Valuation report by an approved valuator.
  • Tax Compliance
    – Copies of up-to-date receipts of lease rental,
    – land and building taxes,
    – WASA clearance certificate
  • Additional Documents
    Life insurance policy
Apply Now!

Start the journey to owning your piece of land today. Apply now for our Land Purchases Loan and take the first step towards securing your future. Just fill out the form below, select your preferred branch, and let us guide you through every step of the process.

Explore Further: Uncover Additional Mortgage Loan Options and Resources

Approved Service Providers

We’ve assembled a Comprehensive Network of Professionals to meet all your homeownership needs, including Property Valuators, Attorneys, and Quantity Surveyors.

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Quick Loan Calculator

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