Unlock the Potential of Your Land

Land Mortgage Loan Highlights

• Purpose of the Land: The intended use of the land—be it for recreation, hunting, or development—will significantly affect the available loan types and terms.
• Down Payment: Land mortgages typically require higher down payments than traditional home loans, often between 20% to 50%.
• Interest Rates: Expect higher interest rates for land loans, which can be either fixed or variable, influenced by the land's purpose and your financial profile.
• Repayment Terms: Terms can vary widely, from fully amortized loans to those with a balloon payment at the end.
• Zoning and Land Use Restrictions: It is crucial to be aware of any local zoning and land use restrictions before purchasing, as they affect the land's value and potential.

Types of Land Loans

• Options for Recreation and Hunting: For those looking to purchase land for personal use, options may include personal loans, home equity loans, or financing from a specialized lender.
• Options for Developers: Developers purchasing land for building projects may seek commercial mortgages or construction loans.

It's important to do your research and work with a reputable lender when considering a land mortgage. Consulting with a real estate attorney is also recommended to fully understand the terms and any legal restrictions associated with the property.