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Land and Leased Land Loans

If you’re looking to purchase a lot, or live on leased land, MPECU has you covered. If you’re looking for a fixer upper, we also have special programs!

For mortgage appointments, we will need:

  • Most current paystubs (30 days)
  • Two months of complete financial statement(s)
  • Copy of Driver’s License
  • Two years of W2’s and/or 1099s
  • Two years of Federal and State tax returns
  • Most recent quarterly statement for retirement and investment accounts


Purchase land lots for eventual building or vacant (recreational) land.

  • Borrow up to 65% of the purchased price
  • Repayment term of up to 10 years
  • $150,000 maximum

Call Peter at (218) 336-1810 

Set up an appointment about Lot Loans.


Lot can either be vacant or have an existing home on it.

  • 7 year balloon term with up to 30 years for repayment
  • $500,000 maximum

You can also refinance your current leased land loan with us.

Call Peter at (218) 336-1810 

Set up an appointment about Leased Land Loans.


USDA Rural Development Loans are designed to help make housing affordable for residents of rural areas. The USDA backs and services these loans.

– 0% down payment
– Qualified properties must be in designated areas as defined by the USDA — generally designated for properties in communities of 20,000 or less.
– Maximum income limits determined by geographic area

Call Peter at (218) 336-1810 

NMLS Information:
Peter- NMLS 747132

Set up an appointment about USDA Rural Development Loans.