Land Loan Calculator
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Understanding Land Loans
Key Factors
Important considerations for land loans:
- Down Payment:
Typically higher than traditional mortgages (20-50%)
- Interest Rates:
Usually higher than residential mortgage rates
- Loan Terms:
Can range from 2-30 years depending on lender
Types of Land Loans
- Raw Land:
Undeveloped land with no utilities or roads
- Improved Land:
Land with utilities and basic infrastructure
- Construction Land:
Land ready for immediate construction
Required Documents
- • Property survey
- • Land appraisal
- • Zoning verification
- • Environmental assessment
- • Development plans
Loan Requirements
- • Good credit score
- • Stable income
- • Low debt-to-income ratio
- • Substantial down payment
- • Clear land title
Tips for Success
- • Research zoning laws
- • Check utility access
- • Verify property boundaries
- • Consider future development
- • Compare multiple lenders