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Community of Healthcare Employees Credit Union offers loans on land for residential use. CHECU will finance up to 80% of the appraised value minus outstanding liens/mortgages for up to 15 years. If there are outstanding mortgages, CHECU would need to pay them off in order to be in first lien position. In general, closing costs range from $200 to $550 depending on documents needed. Community of Healthcare Employees Credit Union holds all land loans in house and per policy does not sell and/or transfer CHECU land loans to a second party. Contact the credit union for complete details. |
