Oklahoma & Kansas Land Loans: 5% Down or No Down Payment Options
Looking to purchase land in Oklahoma, Kansas, Arkansas, or Missouri? Whether you’re planning to build your dream home now or invest for the future, Spurr Mortgage offers two excellent land financing options.
Compare our programs below to find the one that best fits your needs.
🌳 5% Down Payment Land Loan
Available in Oklahoma & Kansas
Perfect for buyers who want a fixed-rate land loan with a low down payment.
Loan Highlights
✅ 95% Financing
- Only 5% down payment required.
- Closing costs are separate from the down payment.
- Seller concessions are allowed up to 6% after your minimum 5% down payment.
✅ Loan Amount
- Finance up to $832,750
- Up to 100 acres
✅ Fixed Interest Rate
- 15-year fixed-rate land loan
- No prepayment penalties
- Pay off early with cash, refinancing, or a future construction loan.
Borrower Requirements
- Minimum 650 credit score
- Maximum 50% debt-to-income (DTI), including your new land payment
Interest Rates
- Current rates generally range from 7.50% to 7.75%
- Final rate depends on your credit score and investor approval.
- Borrowers with a 740+ credit score typically receive the lowest available rate.
Additional Requirements
- Open a savings account with the investor (minimum $10 deposit for Oklahoma and Kansas residents).
- A boundary survey is required, unless one has been completed within the past 120 days.
- Older surveys may be recertified by the original survey company.
Closing Timeline
Most loans close in about 30 days. We work hard to meet your contract closing date whenever possible.
You’ll have one primary loan specialist guiding you from application to closing, backed by an experienced mortgage team.
🌾 No Down Payment Land Loan
Available in Oklahoma, Kansas, Arkansas & Missouri
Purchase land with 100% financing and no required down payment.
Loan Highlights
✅ 100% Financing
- No down payment required.
- Closing costs still apply.
- Seller concessions are allowed with no maximum limit.
✅ Loan Amount
- Finance up to $500,000
- No acreage limitations
✅ Flexible Loan Structure
- 15-year loan
- Fixed for the first five years
- Converts to a 5/1 Adjustable-Rate Mortgage (ARM) after year five.
- No prepayment penalties
Borrower Requirements
- Minimum 680 credit score
- Maximum 38% debt-to-income (DTI), including your new land payment
Interest Rates
Current rates generally range from 7.77% to 11.52%, depending on:
- Credit score
- Investor approval
- Overall loan qualifications
Borrowers with a 740+ credit score typically qualify for the lowest available rates.
Additional Benefits
- Receive a 0.25% rate reduction when you enroll in automatic payments.
- A survey is not normally required, unless requested by the title company or due to a lot split or other special circumstances.
Closing Timeline
Please allow approximately 45 days to close.
Because this is a specialized loan program, the investor performs a more detailed review than traditional land loans. While many loans close sooner, we prefer to set realistic expectations from the beginning.
Throughout the process, you’ll work directly with your dedicated loan specialist while our experienced team works behind the scenes to help ensure a smooth closing.
Which Program Is Right for You?
Choose the 5% Down Loan if you want:
- Lower interest rates
- A fixed-rate loan
- Up to 100 acres
- Faster closing timeline
Choose the No Down Payment Loan if you want:
- Purchase land without a down payment
- No acreage restrictions
- Greater flexibility when buying larger tracts of land
Ready to Buy Land?
Whether you’re purchasing land to build your dream home or investing for the future, our experienced team is here to help you understand your options and guide you through every step of the financing process.
Contact Spurr Mortgage today to get pre-approved and start shopping with confidence.
Spurr Mortgage Corporation
233 E. 10th Street Plaza, Suite 3
Edmond, OK 73034
Website: https://www.spurrmortgage.com
Serving borrowers throughout Oklahoma, Kansas, Arkansas, and Missouri with specialized land loans and one-time close construction financing.