• Benefits
  • Application Process
  • FAQs


With low, competitive rates JSC FCU can help you purchase that piece of property that you would like to one day build on. Qualified members can borrow up to 80% of the lesser amount of the appraised value of the property or the sales price of the property.

JSC FCU Unimproved Property Loans feature:

  • Low-competitive rates
  • Terms up to 15 years
  • Loan amount up to $300,000
  • No loan application fee
  • No prepayment penalties

Application Process


To correctly submit an application, you will need to provide the Credit Union a signed original of the following:
(Provided in application package)


To help expedite the process, please provide the following:

  • Proof of Income
  • Earnest Money Contract
  • Survey (If available)
  • Name of Title Company and Title Company Contact
  • Appraisal (Will be ordered by Credit Union)

Credit and income are reviewed - can take up to three business days
Once Pre-qualified, we will provide you with a Pre-Approval Letter. This is not a loan commitment, as all loans must have a complete credit package and appraisal submitted to the loan committee prior to granting final approval.


Once you notify the Credit Union that you would like to proceed with the loan, we then will proceed by ordering the following reports on your behalf: (fees apply)

  • Title Commitment
  • Formal Appraisal
  • Survey (If applicable)

At this time you will be contacted to set an appointment for closing. There will be two closing involved, you must sign documents at the Credit Union and at the Title Company as well.

Loan Closing:

At this point you and your loan officer have scheduled a closing appointment at a JSC Branch and your Title Company at a time convenient for you.


Documents that will be provided at your closing appointment with the Credit Union:

  • Combined Promissory Note, Disclosure Statement and Security Agreement
  • Texas Mortgage Fraud Notice

Documents that will be provided at your closing appointment with the Title Company:

  • Note
  • General Warranty Deed (if applicable)
  • Deed of Trust
  • Document Correction Agreement
  • Loan Agreement Notice

For an explanation of these documents please refer to the Explanation of Unimproved Property Closing Documents included with this package.

After Closing:

All the necessary documents to convey ownership will be recorded in the proper county.


If you need further assistance, please contact a mortgage specialist at 281-488-7070.


What is an Unimproved Property Loan?

Unimproved property is land without significant buildings, structures, development, or site preparation. In essence, unimproved property is a raw piece of land.

What is the maximum time that you can finance an Unimproved Property loan for?

The maximum term you can finance an Unimproved Property loan is 15 years.

How is the interest rate determined?

The Credit Union has one interest rate all terms.

How long does the process take to finalize an Unimproved Property loan?

Unimproved property transactions rely on third party products such as an appraisal and title commitment. A comfortable closing normally takes up to 30 days.

What are the closing costs associated with an Unimproved Property loan?

The standard costs for closing an Unimproved Property loan include:

  • Survey (Cost depends on the size of the property)
  • Recording fees
  • Appraisal (a formal appraisal is required and the cost can vary)
  • Title commitment fees (determined by the title company)
  • Attorney fees
How much can be borrowed for an Unimproved Property loan?

The Credit Union will finance up to 80% of the purchase price or the appraised value, which ever value is lower.

Can an existing appraisal be used to determine property value?

A pre-existing appraisal cannot be used; one must be performed specific to the transaction. A pre-existing survey will be considered at the discretion of the Credit Union.

Is there a prepayment penalty on an Unimproved Property loan?

No. A lender may not charge a penalty to a borrower for paying all or a portion of an Unimproved Property loan early.

Is a spouse required to be on the loan?

Texas is a community property state, therefore, a spouse and anyone who is listed on the deed of trust is required to be a joint applicant and must occupy the property.

Can I file an agricultural exemption on my land?

You may not file an agricultural exemption against any property that is currently pledged as collateral with JSC FCU.

Can I build on my unimproved property?

No, you may not add any structures to the property that may add value until the loan is paid in full.

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