Land Mortgage


Have you found the perfect spot to build a home, but don't yet have plans for your house drawn up? Take your time! We have land loans available that allow you to purchase property without the pressure of having to complete your home right away (and a perfect complement with our Construction Mortgages. Or, if you own land already, you can use the equity in it to pay for other expenses.

How does an Elmira Savings Bank land mortgage work?

  • Finance up to 65% of the lesser of purchase price or appraised value
  • Minimum loan amount of $40,000
  • Maximum loan amount of $250,000
  • 1 Year Adjustable Rate Mortgage (ARM).  10 Year Amortization.


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Elmira Savings Bank is an approved Seller/Servicer of Freddie Mac, FHA/Department of Housing & Urban Development, VA, USDA, and SONYMA (NY Only). Elmira Savings Bank is an Equal Housing Lender committed to ensuring every applicant for credit receive fair and equal treatment throughout the credit application and approval process, as embodied in the Equal Credit Opportunity Act and the Fair Housing Act. All mortgage lending products are subject to credit and property approval. Rates and program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply.

External links and content are being provided for informational purposes only. Elmira Savings Bank has no control over any other website and is not able to endorse, guarantee or monitor content, availability, viewpoints, products or services that are offered or expressed on any site other than this one.

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