Land loans can come from banks or credit unions, specialty lenders or government programs. The financing of residential mortgages, and secured or unsecured consumer loans, is regulated under the Consumer Loan Act, chapters 31.04 RCW and 208-620 WAC.You can use a land loan to purchase a residential lot in Alaska, Arizona, California, Idaho, or Washington State. However, having financing pre-approval as a backup allows flexibility if the ideal parcel is found. Evaluate both cash and financing options when buying land. What Is a Land Loan? A land loan is a type of credit used to finance the purchase of a plot of land. I was also wondering if anybody has advice for setting up utilities on the property, as well as financing. Any information you have is helpful. The purpose of the Land Acquisition Program (LAP) is to assist eligible organizations in.