Banks offering land loans include Bank of America, Union Bank and Trust, and LightStream, a division of SunTrust Bank, according to the company websites. LightStream gives land loans for purchasing, refinancing, investing or building. Bank of America offers agricultural loans, while Union Bank and Trust provides land and lot loans.
Union Bank and Trust offers loans for residential lots and unimproved land, and it helps customers transition from construction loans to personal mortgages, notes Union Bank and Trust. Bank of America states that it makes customized loans for purchasing or refinancing ranch and farm lands, Borrowers cannot use the land for residential properties. The borrowing limits are 60 to 75 percent of the property's value, and the bank secures the loans with the land.