What is a land loan? Land loans are used to buy property without a home on it. Sometimes these are confused with construction loans, which are for people who want to build a house. The difference is that land loans are typically used by people who want to build a home in the future but may not want to jump into building and financing a home immediately. Types of Land Loans Unimproved Land Loan: a loan for large plots of land with no structure on them, and without a current source of water, or septic/sewer. Improved Land Loan: a loan…
Land Loans: Everything you need to know.
What is a land loan? Land loans are used to buy property without a home on it. Sometimes these are confused with construction loans, which are for people who want to build a house. The difference is that land loans are typically used by people who want to build a home in the future but may not want to jump into building and financing a home immediately. Types of Land Loans Unimproved Land Loan: a loan for large plots of land with no structure on them, and without a current source of water, or septic/sewer. Improved Land Loan: a loan…