Land Loan Calculator
Calculate monthly payments for a land loan.
Compare raw land, lot, and construction loan terms and interest rates.
Land Loan Payment
Land loan payments use the standard amortization formula:
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n − 1]
Where:
- P = loan principal (land price − down payment)
- r = monthly interest rate (annual rate / 12)
- n = total number of payments (years × 12)
Typical land loan terms:
| Loan Type | Down Payment | Rate | Term |
|---|---|---|---|
| Raw land | 30–50% | 6–10% | 5–15 years |
| Improved lot | 20–30% | 5–8% | 10–20 years |
| Land + construction plan | 15–25% | 5–7% | 15–30 years |
Land loans typically have:
- Higher interest rates than home mortgages
- Larger down payment requirements
- Shorter repayment terms
- Stricter qualification requirements