Land Loans
Land loans finance the purchase of raw or improved land, separate from a construction or home loan.
What goal may it serve?
Purchasing land to build on later, hold as an investment, or develop.
Who might consider it?
Buyers looking to purchase land for future construction, investment, or personal use.
Major tradeoff
Land loans typically have shorter terms, higher rates, and larger down payment requirements than home mortgages, since land alone is harder to finance.
What information matters?
The land's location, size, price, whether it's raw or improved, and your intended use.
FAQs
Can I finance raw land?+
Often yes, though terms are typically less favorable than for improved land or homes. A loan expert can explain the options.
Does a land loan roll into a construction loan?+
Sometimes. It depends on the program and your plans. A loan expert can help you structure the financing.
Logical next step
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