loan calculator


Land Loan Calculator

Land Loan Calculator with amortization schedule to estimate the monthly payment for your land loan.

Online Land Loan Calculator

Loan Amount
Loan Terms
years
Interest Rate
First Payment Date
Amortization schedule
Show By Month Year

Loan Summary

Loan Amount:
$255,000.00
Monthly Payment:
$1,471.95
Total # Of Payments:
360
Start Date:
Dec, 2023
Payoff Date:
Nov, 2053
Total Interest Paid:
$274,902.45
Total Payment:
$529,902.45

Land Loan Amortization Schedule

Payment Date Payment # Interest Paid Principal Paid Total Payment Remaining Balance
Dec, 2023 1 $1,200.63 $271.33 $1,471.95 $254,728.67
Jan, 2024 2 $1,199.35 $272.60 $1,471.95 $254,456.07
Feb, 2024 3 $1,198.06 $273.89 $1,471.95 $254,182.18
Mar, 2024 4 $1,196.77 $275.18 $1,471.95 $253,907.01
Apr, 2024 5 $1,195.48 $276.47 $1,471.95 $253,630.53
May, 2024 6 $1,194.18 $277.77 $1,471.95 $253,352.76
Jun, 2024 7 $1,192.87 $279.08 $1,471.95 $253,073.68
Jul, 2024 8 $1,191.56 $280.40 $1,471.95 $252,793.28
Aug, 2024 9 $1,190.24 $281.72 $1,471.95 $252,511.56
Sep, 2024 10 $1,188.91 $283.04 $1,471.95 $252,228.52
Oct, 2024 11 $1,187.58 $284.38 $1,471.95 $251,944.15
Nov, 2024 12 $1,186.24 $285.71 $1,471.95 $251,658.43
Dec, 2024 13 $1,184.89 $287.06 $1,471.95 $251,371.37
Jan, 2025 14 $1,183.54 $288.41 $1,471.95 $251,082.96
Feb, 2025 15 $1,182.18 $289.77 $1,471.95 $250,793.19
Mar, 2025 16 $1,180.82 $291.13 $1,471.95 $250,502.06
Apr, 2025 17 $1,179.45 $292.50 $1,471.95 $250,209.56
May, 2025 18 $1,178.07 $293.88 $1,471.95 $249,915.67
Jun, 2025 19 $1,176.69 $295.26 $1,471.95 $249,620.41
Jul, 2025 20 $1,175.30 $296.66 $1,471.95 $249,323.75
Aug, 2025 21 $1,173.90 $298.05 $1,471.95 $249,025.70
Sep, 2025 22 $1,172.50 $299.46 $1,471.95 $248,726.25
Oct, 2025 23 $1,171.09 $300.87 $1,471.95 $248,425.38
Nov, 2025 24 $1,169.67 $302.28 $1,471.95 $248,123.10
Dec, 2025 25 $1,168.25 $303.70 $1,471.95 $247,819.40
Jan, 2026 26 $1,166.82 $305.13 $1,471.95 $247,514.26
Feb, 2026 27 $1,165.38 $306.57 $1,471.95 $247,207.69
Mar, 2026 28 $1,163.94 $308.02 $1,471.95 $246,899.67
Apr, 2026 29 $1,162.49 $309.47 $1,471.95 $246,590.21
May, 2026 30 $1,161.03 $310.92 $1,471.95 $246,279.29
Jun, 2026 31 $1,159.56 $312.39 $1,471.95 $245,966.90
Jul, 2026 32 $1,158.09 $313.86 $1,471.95 $245,653.04
Aug, 2026 33 $1,156.62 $315.33 $1,471.95 $245,337.71
Sep, 2026 34 $1,155.13 $316.82 $1,471.95 $245,020.89
Oct, 2026 35 $1,153.64 $318.31 $1,471.95 $244,702.58
Nov, 2026 36 $1,152.14 $319.81 $1,471.95 $244,382.77
Dec, 2026 37 $1,150.64 $321.32 $1,471.95 $244,061.45
Jan, 2027 38 $1,149.12 $322.83 $1,471.95 $243,738.62
Feb, 2027 39 $1,147.60 $324.35 $1,471.95 $243,414.27
Mar, 2027 40 $1,146.08 $325.88 $1,471.95 $243,088.40
Apr, 2027 41 $1,144.54 $327.41 $1,471.95 $242,760.99
May, 2027 42 $1,143.00 $328.95 $1,471.95 $242,432.04
Jun, 2027 43 $1,141.45 $330.50 $1,471.95 $242,101.54
Jul, 2027 44 $1,139.89 $332.06 $1,471.95 $241,769.48
Aug, 2027 45 $1,138.33 $333.62 $1,471.95 $241,435.86
Sep, 2027 46 $1,136.76 $335.19 $1,471.95 $241,100.67
Oct, 2027 47 $1,135.18 $336.77 $1,471.95 $240,763.90
Nov, 2027 48 $1,133.60 $338.35 $1,471.95 $240,425.55
Dec, 2027 49 $1,132.00 $339.95 $1,471.95 $240,085.60
Jan, 2028 50 $1,130.40 $341.55 $1,471.95 $239,744.05
Feb, 2028 51 $1,128.79 $343.16 $1,471.95 $239,400.89
Mar, 2028 52 $1,127.18 $344.77 $1,471.95 $239,056.12
Apr, 2028 53 $1,125.56 $346.40 $1,471.95 $238,709.73
May, 2028 54 $1,123.92 $348.03 $1,471.95 $238,361.70
Jun, 2028 55 $1,122.29 $349.66 $1,471.95 $238,012.03
Jul, 2028 56 $1,120.64 $351.31 $1,471.95 $237,660.72
Aug, 2028 57 $1,118.99 $352.97 $1,471.95 $237,307.76
Sep, 2028 58 $1,117.32 $354.63 $1,471.95 $236,953.13
Oct, 2028 59 $1,115.65 $356.30 $1,471.95 $236,596.83
Nov, 2028 60 $1,113.98 $357.97 $1,471.95 $236,238.86
Dec, 2028 61 $1,112.29 $359.66 $1,471.95 $235,879.20
Jan, 2029 62 $1,110.60 $361.35 $1,471.95 $235,517.85
Feb, 2029 63 $1,108.90 $363.05 $1,471.95 $235,154.79
Mar, 2029 64 $1,107.19 $364.76 $1,471.95 $234,790.03
Apr, 2029 65 $1,105.47 $366.48 $1,471.95 $234,423.55
May, 2029 66 $1,103.74 $368.21 $1,471.95 $234,055.34
Jun, 2029 67 $1,102.01 $369.94 $1,471.95 $233,685.40
Jul, 2029 68 $1,100.27 $371.68 $1,471.95 $233,313.72
Aug, 2029 69 $1,098.52 $373.43 $1,471.95 $232,940.28
Sep, 2029 70 $1,096.76 $375.19 $1,471.95 $232,565.09
Oct, 2029 71 $1,094.99 $376.96 $1,471.95 $232,188.13
Nov, 2029 72 $1,093.22 $378.73 $1,471.95 $231,809.40
Dec, 2029 73 $1,091.44 $380.52 $1,471.95 $231,428.89
Jan, 2030 74 $1,089.64 $382.31 $1,471.95 $231,046.58
Feb, 2030 75 $1,087.84 $384.11 $1,471.95 $230,662.47
Mar, 2030 76 $1,086.04 $385.92 $1,471.95 $230,276.56
Apr, 2030 77 $1,084.22 $387.73 $1,471.95 $229,888.83
May, 2030 78 $1,082.39 $389.56 $1,471.95 $229,499.27
Jun, 2030 79 $1,080.56 $391.39 $1,471.95 $229,107.88
Jul, 2030 80 $1,078.72 $393.24 $1,471.95 $228,714.64
Aug, 2030 81 $1,076.86 $395.09 $1,471.95 $228,319.55
Sep, 2030 82 $1,075.00 $396.95 $1,471.95 $227,922.61
Oct, 2030 83 $1,073.14 $398.82 $1,471.95 $227,523.79
Nov, 2030 84 $1,071.26 $400.69 $1,471.95 $227,123.10
Dec, 2030 85 $1,069.37 $402.58 $1,471.95 $226,720.52
Jan, 2031 86 $1,067.48 $404.48 $1,471.95 $226,316.04
Feb, 2031 87 $1,065.57 $406.38 $1,471.95 $225,909.66
Mar, 2031 88 $1,063.66 $408.29 $1,471.95 $225,501.37
Apr, 2031 89 $1,061.74 $410.22 $1,471.95 $225,091.15
May, 2031 90 $1,059.80 $412.15 $1,471.95 $224,679.01
Jun, 2031 91 $1,057.86 $414.09 $1,471.95 $224,264.92
Jul, 2031 92 $1,055.91 $416.04 $1,471.95 $223,848.88
Aug, 2031 93 $1,053.96 $418.00 $1,471.95 $223,430.89
Sep, 2031 94 $1,051.99 $419.96 $1,471.95 $223,010.92
Oct, 2031 95 $1,050.01 $421.94 $1,471.95 $222,588.98
Nov, 2031 96 $1,048.02 $423.93 $1,471.95 $222,165.05
Dec, 2031 97 $1,046.03 $425.92 $1,471.95 $221,739.13
Jan, 2032 98 $1,044.02 $427.93 $1,471.95 $221,311.20
Feb, 2032 99 $1,042.01 $429.94 $1,471.95 $220,881.25
Mar, 2032 100 $1,039.98 $431.97 $1,471.95 $220,449.29
Apr, 2032 101 $1,037.95 $434.00 $1,471.95 $220,015.28
May, 2032 102 $1,035.91 $436.05 $1,471.95 $219,579.24
Jun, 2032 103 $1,033.85 $438.10 $1,471.95 $219,141.14
Jul, 2032 104 $1,031.79 $440.16 $1,471.95 $218,700.98
Aug, 2032 105 $1,029.72 $442.23 $1,471.95 $218,258.74
Sep, 2032 106 $1,027.63 $444.32 $1,471.95 $217,814.43
Oct, 2032 107 $1,025.54 $446.41 $1,471.95 $217,368.02
Nov, 2032 108 $1,023.44 $448.51 $1,471.95 $216,919.51
Dec, 2032 109 $1,021.33 $450.62 $1,471.95 $216,468.88
Jan, 2033 110 $1,019.21 $452.74 $1,471.95 $216,016.14
Feb, 2033 111 $1,017.08 $454.88 $1,471.95 $215,561.27
Mar, 2033 112 $1,014.93 $457.02 $1,471.95 $215,104.25
Apr, 2033 113 $1,012.78 $459.17 $1,471.95 $214,645.08
May, 2033 114 $1,010.62 $461.33 $1,471.95 $214,183.75
Jun, 2033 115 $1,008.45 $463.50 $1,471.95 $213,720.25
Jul, 2033 116 $1,006.27 $465.69 $1,471.95 $213,254.56
Aug, 2033 117 $1,004.07 $467.88 $1,471.95 $212,786.68
Sep, 2033 118 $1,001.87 $470.08 $1,471.95 $212,316.60
Oct, 2033 119 $999.66 $472.29 $1,471.95 $211,844.31
Nov, 2033 120 $997.43 $474.52 $1,471.95 $211,369.79
Dec, 2033 121 $995.20 $476.75 $1,471.95 $210,893.04
Jan, 2034 122 $992.95 $479.00 $1,471.95 $210,414.04
Feb, 2034 123 $990.70 $481.25 $1,471.95 $209,932.79
Mar, 2034 124 $988.43 $483.52 $1,471.95 $209,449.27
Apr, 2034 125 $986.16 $485.79 $1,471.95 $208,963.48
May, 2034 126 $983.87 $488.08 $1,471.95 $208,475.40
Jun, 2034 127 $981.57 $490.38 $1,471.95 $207,985.02
Jul, 2034 128 $979.26 $492.69 $1,471.95 $207,492.33
Aug, 2034 129 $976.94 $495.01 $1,471.95 $206,997.32
Sep, 2034 130 $974.61 $497.34 $1,471.95 $206,499.98
Oct, 2034 131 $972.27 $499.68 $1,471.95 $206,000.30
Nov, 2034 132 $969.92 $502.03 $1,471.95 $205,498.27
Dec, 2034 133 $967.55 $504.40 $1,471.95 $204,993.87
Jan, 2035 134 $965.18 $506.77 $1,471.95 $204,487.10
Feb, 2035 135 $962.79 $509.16 $1,471.95 $203,977.94
Mar, 2035 136 $960.40 $511.56 $1,471.95 $203,466.39
Apr, 2035 137 $957.99 $513.96 $1,471.95 $202,952.42
May, 2035 138 $955.57 $516.38 $1,471.95 $202,436.04
Jun, 2035 139 $953.14 $518.81 $1,471.95 $201,917.23
Jul, 2035 140 $950.69 $521.26 $1,471.95 $201,395.97
Aug, 2035 141 $948.24 $523.71 $1,471.95 $200,872.26
Sep, 2035 142 $945.77 $526.18 $1,471.95 $200,346.08
Oct, 2035 143 $943.30 $528.66 $1,471.95 $199,817.42
Nov, 2035 144 $940.81 $531.14 $1,471.95 $199,286.28
Dec, 2035 145 $938.31 $533.65 $1,471.95 $198,752.63
Jan, 2036 146 $935.79 $536.16 $1,471.95 $198,216.48
Feb, 2036 147 $933.27 $538.68 $1,471.95 $197,677.79
Mar, 2036 148 $930.73 $541.22 $1,471.95 $197,136.58
Apr, 2036 149 $928.18 $543.77 $1,471.95 $196,592.81
May, 2036 150 $925.62 $546.33 $1,471.95 $196,046.48
Jun, 2036 151 $923.05 $548.90 $1,471.95 $195,497.58
Jul, 2036 152 $920.47 $551.48 $1,471.95 $194,946.10
Aug, 2036 153 $917.87 $554.08 $1,471.95 $194,392.02
Sep, 2036 154 $915.26 $556.69 $1,471.95 $193,835.33
Oct, 2036 155 $912.64 $559.31 $1,471.95 $193,276.02
Nov, 2036 156 $910.01 $561.94 $1,471.95 $192,714.08
Dec, 2036 157 $907.36 $564.59 $1,471.95 $192,149.49
Jan, 2037 158 $904.70 $567.25 $1,471.95 $191,582.24
Feb, 2037 159 $902.03 $569.92 $1,471.95 $191,012.32
Mar, 2037 160 $899.35 $572.60 $1,471.95 $190,439.72
Apr, 2037 161 $896.65 $575.30 $1,471.95 $189,864.42
May, 2037 162 $893.94 $578.01 $1,471.95 $189,286.42
Jun, 2037 163 $891.22 $580.73 $1,471.95 $188,705.69
Jul, 2037 164 $888.49 $583.46 $1,471.95 $188,122.23
Aug, 2037 165 $885.74 $586.21 $1,471.95 $187,536.02
Sep, 2037 166 $882.98 $588.97 $1,471.95 $186,947.05
Oct, 2037 167 $880.21 $591.74 $1,471.95 $186,355.31
Nov, 2037 168 $877.42 $594.53 $1,471.95 $185,760.78
Dec, 2037 169 $874.62 $597.33 $1,471.95 $185,163.45
Jan, 2038 170 $871.81 $600.14 $1,471.95 $184,563.31
Feb, 2038 171 $868.99 $602.97 $1,471.95 $183,960.35
Mar, 2038 172 $866.15 $605.80 $1,471.95 $183,354.54
Apr, 2038 173 $863.29 $608.66 $1,471.95 $182,745.88
May, 2038 174 $860.43 $611.52 $1,471.95 $182,134.36
Jun, 2038 175 $857.55 $614.40 $1,471.95 $181,519.96
Jul, 2038 176 $854.66 $617.29 $1,471.95 $180,902.66
Aug, 2038 177 $851.75 $620.20 $1,471.95 $180,282.46
Sep, 2038 178 $848.83 $623.12 $1,471.95 $179,659.34
Oct, 2038 179 $845.90 $626.06 $1,471.95 $179,033.29
Nov, 2038 180 $842.95 $629.00 $1,471.95 $178,404.28
Dec, 2038 181 $839.99 $631.96 $1,471.95 $177,772.32
Jan, 2039 182 $837.01 $634.94 $1,471.95 $177,137.38
Feb, 2039 183 $834.02 $637.93 $1,471.95 $176,499.45
Mar, 2039 184 $831.02 $640.93 $1,471.95 $175,858.52
Apr, 2039 185 $828.00 $643.95 $1,471.95 $175,214.57
May, 2039 186 $824.97 $646.98 $1,471.95 $174,567.58
Jun, 2039 187 $821.92 $650.03 $1,471.95 $173,917.55
Jul, 2039 188 $818.86 $653.09 $1,471.95 $173,264.47
Aug, 2039 189 $815.79 $656.16 $1,471.95 $172,608.30
Sep, 2039 190 $812.70 $659.25 $1,471.95 $171,949.05
Oct, 2039 191 $809.59 $662.36 $1,471.95 $171,286.69
Nov, 2039 192 $806.47 $665.48 $1,471.95 $170,621.21
Dec, 2039 193 $803.34 $668.61 $1,471.95 $169,952.60
Jan, 2040 194 $800.19 $671.76 $1,471.95 $169,280.85
Feb, 2040 195 $797.03 $674.92 $1,471.95 $168,605.92
Mar, 2040 196 $793.85 $678.10 $1,471.95 $167,927.83
Apr, 2040 197 $790.66 $681.29 $1,471.95 $167,246.54
May, 2040 198 $787.45 $684.50 $1,471.95 $166,562.04
Jun, 2040 199 $784.23 $687.72 $1,471.95 $165,874.31
Jul, 2040 200 $780.99 $690.96 $1,471.95 $165,183.36
Aug, 2040 201 $777.74 $694.21 $1,471.95 $164,489.14
Sep, 2040 202 $774.47 $697.48 $1,471.95 $163,791.66
Oct, 2040 203 $771.19 $700.77 $1,471.95 $163,090.90
Nov, 2040 204 $767.89 $704.06 $1,471.95 $162,386.83
Dec, 2040 205 $764.57 $707.38 $1,471.95 $161,679.45
Jan, 2041 206 $761.24 $710.71 $1,471.95 $160,968.74
Feb, 2041 207 $757.89 $714.06 $1,471.95 $160,254.68
Mar, 2041 208 $754.53 $717.42 $1,471.95 $159,537.26
Apr, 2041 209 $751.15 $720.80 $1,471.95 $158,816.47
May, 2041 210 $747.76 $724.19 $1,471.95 $158,092.28
Jun, 2041 211 $744.35 $727.60 $1,471.95 $157,364.68
Jul, 2041 212 $740.93 $731.03 $1,471.95 $156,633.65
Aug, 2041 213 $737.48 $734.47 $1,471.95 $155,899.18
Sep, 2041 214 $734.03 $737.93 $1,471.95 $155,161.26
Oct, 2041 215 $730.55 $741.40 $1,471.95 $154,419.86
Nov, 2041 216 $727.06 $744.89 $1,471.95 $153,674.97
Dec, 2041 217 $723.55 $748.40 $1,471.95 $152,926.57
Jan, 2042 218 $720.03 $751.92 $1,471.95 $152,174.65
Feb, 2042 219 $716.49 $755.46 $1,471.95 $151,419.18
Mar, 2042 220 $712.93 $759.02 $1,471.95 $150,660.16
Apr, 2042 221 $709.36 $762.59 $1,471.95 $149,897.57
May, 2042 222 $705.77 $766.18 $1,471.95 $149,131.39
Jun, 2042 223 $702.16 $769.79 $1,471.95 $148,361.60
Jul, 2042 224 $698.54 $773.42 $1,471.95 $147,588.18
Aug, 2042 225 $694.89 $777.06 $1,471.95 $146,811.12
Sep, 2042 226 $691.24 $780.72 $1,471.95 $146,030.41
Oct, 2042 227 $687.56 $784.39 $1,471.95 $145,246.02
Nov, 2042 228 $683.87 $788.08 $1,471.95 $144,457.93
Dec, 2042 229 $680.16 $791.80 $1,471.95 $143,666.14
Jan, 2043 230 $676.43 $795.52 $1,471.95 $142,870.61
Feb, 2043 231 $672.68 $799.27 $1,471.95 $142,071.35
Mar, 2043 232 $668.92 $803.03 $1,471.95 $141,268.31
Apr, 2043 233 $665.14 $806.81 $1,471.95 $140,461.50
May, 2043 234 $661.34 $810.61 $1,471.95 $139,650.89
Jun, 2043 235 $657.52 $814.43 $1,471.95 $138,836.46
Jul, 2043 236 $653.69 $818.26 $1,471.95 $138,018.20
Aug, 2043 237 $649.84 $822.12 $1,471.95 $137,196.08
Sep, 2043 238 $645.96 $825.99 $1,471.95 $136,370.10
Oct, 2043 239 $642.08 $829.88 $1,471.95 $135,540.22
Nov, 2043 240 $638.17 $833.78 $1,471.95 $134,706.44
Dec, 2043 241 $634.24 $837.71 $1,471.95 $133,868.73
Jan, 2044 242 $630.30 $841.65 $1,471.95 $133,027.08
Feb, 2044 243 $626.34 $845.62 $1,471.95 $132,181.46
Mar, 2044 244 $622.35 $849.60 $1,471.95 $131,331.86
Apr, 2044 245 $618.35 $853.60 $1,471.95 $130,478.27
May, 2044 246 $614.34 $857.62 $1,471.95 $129,620.65
Jun, 2044 247 $610.30 $861.65 $1,471.95 $128,759.00
Jul, 2044 248 $606.24 $865.71 $1,471.95 $127,893.29
Aug, 2044 249 $602.16 $869.79 $1,471.95 $127,023.50
Sep, 2044 250 $598.07 $873.88 $1,471.95 $126,149.62
Oct, 2044 251 $593.95 $878.00 $1,471.95 $125,271.62
Nov, 2044 252 $589.82 $882.13 $1,471.95 $124,389.49
Dec, 2044 253 $585.67 $886.28 $1,471.95 $123,503.20
Jan, 2045 254 $581.49 $890.46 $1,471.95 $122,612.75
Feb, 2045 255 $577.30 $894.65 $1,471.95 $121,718.10
Mar, 2045 256 $573.09 $898.86 $1,471.95 $120,819.24
Apr, 2045 257 $568.86 $903.09 $1,471.95 $119,916.14
May, 2045 258 $564.61 $907.35 $1,471.95 $119,008.80
Jun, 2045 259 $560.33 $911.62 $1,471.95 $118,097.18
Jul, 2045 260 $556.04 $915.91 $1,471.95 $117,181.27
Aug, 2045 261 $551.73 $920.22 $1,471.95 $116,261.04
Sep, 2045 262 $547.40 $924.56 $1,471.95 $115,336.49
Oct, 2045 263 $543.04 $928.91 $1,471.95 $114,407.58
Nov, 2045 264 $538.67 $933.28 $1,471.95 $113,474.30
Dec, 2045 265 $534.27 $937.68 $1,471.95 $112,536.62
Jan, 2046 266 $529.86 $942.09 $1,471.95 $111,594.53
Feb, 2046 267 $525.42 $946.53 $1,471.95 $110,648.00
Mar, 2046 268 $520.97 $950.98 $1,471.95 $109,697.02
Apr, 2046 269 $516.49 $955.46 $1,471.95 $108,741.56
May, 2046 270 $511.99 $959.96 $1,471.95 $107,781.60
Jun, 2046 271 $507.47 $964.48 $1,471.95 $106,817.12
Jul, 2046 272 $502.93 $969.02 $1,471.95 $105,848.10
Aug, 2046 273 $498.37 $973.58 $1,471.95 $104,874.52
Sep, 2046 274 $493.78 $978.17 $1,471.95 $103,896.35
Oct, 2046 275 $489.18 $982.77 $1,471.95 $102,913.58
Nov, 2046 276 $484.55 $987.40 $1,471.95 $101,926.18
Dec, 2046 277 $479.90 $992.05 $1,471.95 $100,934.13
Jan, 2047 278 $475.23 $996.72 $1,471.95 $99,937.41
Feb, 2047 279 $470.54 $1,001.41 $1,471.95 $98,936.00
Mar, 2047 280 $465.82 $1,006.13 $1,471.95 $97,929.87
Apr, 2047 281 $461.09 $1,010.86 $1,471.95 $96,919.00
May, 2047 282 $456.33 $1,015.62 $1,471.95 $95,903.38
Jun, 2047 283 $451.55 $1,020.41 $1,471.95 $94,882.97
Jul, 2047 284 $446.74 $1,025.21 $1,471.95 $93,857.76
Aug, 2047 285 $441.91 $1,030.04 $1,471.95 $92,827.72
Sep, 2047 286 $437.06 $1,034.89 $1,471.95 $91,792.84
Oct, 2047 287 $432.19 $1,039.76 $1,471.95 $90,753.08
Nov, 2047 288 $427.30 $1,044.66 $1,471.95 $89,708.42
Dec, 2047 289 $422.38 $1,049.57 $1,471.95 $88,658.85
Jan, 2048 290 $417.44 $1,054.52 $1,471.95 $87,604.33
Feb, 2048 291 $412.47 $1,059.48 $1,471.95 $86,544.85
Mar, 2048 292 $407.48 $1,064.47 $1,471.95 $85,480.38
Apr, 2048 293 $402.47 $1,069.48 $1,471.95 $84,410.90
May, 2048 294 $397.43 $1,074.52 $1,471.95 $83,336.38
Jun, 2048 295 $392.38 $1,079.58 $1,471.95 $82,256.81
Jul, 2048 296 $387.29 $1,084.66 $1,471.95 $81,172.15
Aug, 2048 297 $382.19 $1,089.77 $1,471.95 $80,082.38
Sep, 2048 298 $377.05 $1,094.90 $1,471.95 $78,987.49
Oct, 2048 299 $371.90 $1,100.05 $1,471.95 $77,887.43
Nov, 2048 300 $366.72 $1,105.23 $1,471.95 $76,782.20
Dec, 2048 301 $361.52 $1,110.44 $1,471.95 $75,671.77
Jan, 2049 302 $356.29 $1,115.66 $1,471.95 $74,556.10
Feb, 2049 303 $351.03 $1,120.92 $1,471.95 $73,435.19
Mar, 2049 304 $345.76 $1,126.19 $1,471.95 $72,308.99
Apr, 2049 305 $340.45 $1,131.50 $1,471.95 $71,177.50
May, 2049 306 $335.13 $1,136.82 $1,471.95 $70,040.67
Jun, 2049 307 $329.77 $1,142.18 $1,471.95 $68,898.50
Jul, 2049 308 $324.40 $1,147.55 $1,471.95 $67,750.94
Aug, 2049 309 $318.99 $1,152.96 $1,471.95 $66,597.99
Sep, 2049 310 $313.57 $1,158.39 $1,471.95 $65,439.60
Oct, 2049 311 $308.11 $1,163.84 $1,471.95 $64,275.76
Nov, 2049 312 $302.63 $1,169.32 $1,471.95 $63,106.44
Dec, 2049 313 $297.13 $1,174.83 $1,471.95 $61,931.62
Jan, 2050 314 $291.59 $1,180.36 $1,471.95 $60,751.26
Feb, 2050 315 $286.04 $1,185.91 $1,471.95 $59,565.35
Mar, 2050 316 $280.45 $1,191.50 $1,471.95 $58,373.85
Apr, 2050 317 $274.84 $1,197.11 $1,471.95 $57,176.74
May, 2050 318 $269.21 $1,202.74 $1,471.95 $55,974.00
Jun, 2050 319 $263.54 $1,208.41 $1,471.95 $54,765.59
Jul, 2050 320 $257.85 $1,214.10 $1,471.95 $53,551.49
Aug, 2050 321 $252.14 $1,219.81 $1,471.95 $52,331.68
Sep, 2050 322 $246.39 $1,225.56 $1,471.95 $51,106.12
Oct, 2050 323 $240.62 $1,231.33 $1,471.95 $49,874.80
Nov, 2050 324 $234.83 $1,237.12 $1,471.95 $48,637.67
Dec, 2050 325 $229.00 $1,242.95 $1,471.95 $47,394.72
Jan, 2051 326 $223.15 $1,248.80 $1,471.95 $46,145.92
Feb, 2051 327 $217.27 $1,254.68 $1,471.95 $44,891.24
Mar, 2051 328 $211.36 $1,260.59 $1,471.95 $43,630.65
Apr, 2051 329 $205.43 $1,266.52 $1,471.95 $42,364.13
May, 2051 330 $199.46 $1,272.49 $1,471.95 $41,091.64
Jun, 2051 331 $193.47 $1,278.48 $1,471.95 $39,813.16
Jul, 2051 332 $187.45 $1,284.50 $1,471.95 $38,528.67
Aug, 2051 333 $181.41 $1,290.55 $1,471.95 $37,238.12
Sep, 2051 334 $175.33 $1,296.62 $1,471.95 $35,941.50
Oct, 2051 335 $169.22 $1,302.73 $1,471.95 $34,638.77
Nov, 2051 336 $163.09 $1,308.86 $1,471.95 $33,329.91
Dec, 2051 337 $156.93 $1,315.02 $1,471.95 $32,014.89
Jan, 2052 338 $150.74 $1,321.21 $1,471.95 $30,693.68
Feb, 2052 339 $144.52 $1,327.44 $1,471.95 $29,366.24
Mar, 2052 340 $138.27 $1,333.69 $1,471.95 $28,032.55
Apr, 2052 341 $131.99 $1,339.96 $1,471.95 $26,692.59
May, 2052 342 $125.68 $1,346.27 $1,471.95 $25,346.32
Jun, 2052 343 $119.34 $1,352.61 $1,471.95 $23,993.70
Jul, 2052 344 $112.97 $1,358.98 $1,471.95 $22,634.72
Aug, 2052 345 $106.57 $1,365.38 $1,471.95 $21,269.34
Sep, 2052 346 $100.14 $1,371.81 $1,471.95 $19,897.54
Oct, 2052 347 $93.68 $1,378.27 $1,471.95 $18,519.27
Nov, 2052 348 $87.19 $1,384.76 $1,471.95 $17,134.51
Dec, 2052 349 $80.67 $1,391.28 $1,471.95 $15,743.24
Jan, 2053 350 $74.12 $1,397.83 $1,471.95 $14,345.41
Feb, 2053 351 $67.54 $1,404.41 $1,471.95 $12,941.00
Mar, 2053 352 $60.93 $1,411.02 $1,471.95 $11,529.98
Apr, 2053 353 $54.29 $1,417.66 $1,471.95 $10,112.32
May, 2053 354 $47.61 $1,424.34 $1,471.95 $8,687.98
Jun, 2053 355 $40.91 $1,431.05 $1,471.95 $7,256.93
Jul, 2053 356 $34.17 $1,437.78 $1,471.95 $5,819.15
Aug, 2053 357 $27.40 $1,444.55 $1,471.95 $4,374.60
Sep, 2053 358 $20.60 $1,451.35 $1,471.95 $2,923.24
Oct, 2053 359 $13.76 $1,458.19 $1,471.95 $1,465.05
Nov, 2053 360 $6.90 $1,465.05 $1,471.95 $0.00


What is a land loan?

A land loan is a loan to finance the purchase of land. You can take out a land loan if you are interested in buying land to build a home.


How do land loans work?

Land or lot loans are similar to a home mortgage but are more complex. Land loans are viewed as riskier than a traditional mortgage because there is no property on the land to be used as collateral, only the land itself. When the risk for the bank increases, so does the interest rate. Borrowers are required to put down a bigger down payment along with higher interest for land loans than conventional mortgages. Once you are approved for a land loan, you will repay the lender with monthly installment payments plus interest over a period of time.


Types of land loans

There are mainly three types of land loans depending on the type of land you are buying.


1. Raw Land Loan

Raw lands are lands in undeveloped areas with no electricity, or access to other utilities and roads. This type of land is cheaper but the hardest to get financing for because it is hard for the lender to evaluate their risks. The interest rates are also higher for raw land loans. To increase your chance of getting approved for a raw land loan, you need a very good credit score, a sizable down payment, and a solid plan to show the lender that you are serious and fully committed to the land, and that you have the financial means to repay the loan.


2. Unimproved Land Loan

Unimproved land is an upgrade from the raw land, but still in an undeveloped area with limited access to utilities. Electricity, phone lines, and gas meters are usually not available on unimproved lands. Financing for unimproved land is a little easier than raw land, but still difficult when compared to a traditional mortgage. Again, to increase your odds of getting approved, a higher down payment and a detailed plan on what you are going to do with the land help.


3. Improved Land Loan

Improved land is located in a fully developed area with access to utilities and roads. Improved lands are more expensive than raw and unimproved lands but are easier to get financing. Improved lands are easier for lenders to evaluate the potential risks, and therefore the interest rates are lower for improved land than raw and unimproved lands.



How to get a land loan?

Before applying for a land loan, you should review your credit report so that you know what kind of interest rate to expect. To qualify for a land loan, you will need to meet the following requirements.


1. Credit Score

All land lenders will check your credit score, most require a minimum credit score of 680 to approve land loans. To get the best interest rate, you may need a credit score of 720 or higher.


2. Compare Quotes

Don't just ask one lender, you need to shop around the market and see what's available and find a lender that offers you the best rate and the lowest costs.


3. Proof of Income

You will need to provide income proof and bank statements, so lenders know you have the money for a down payment and can repay the loan with interest.


4. Debt-to-income

Lenders check your debt-to-income or DTI ratio to determine if your debt is manageable relative to your income. Most lenders require a DTI below 40%. Pay off some of your debt first if your DTI is high before applying for a land loan.


5. Detailed Plan

Lenders will need to see what you are going to do with the land. Be prepared to provide them with a detailed plan. Lenders won't approve your loan if you don't have a plan. You may also need to provide documents for zoning, property checks, land restrictions, surveys, and access to utilities.


Is a land loan harder to get?

A land loan is harder to get than a traditional mortgage because they are riskier for lenders. To get a land loan, lenders require the borrower to have a higher credit score, a large down payment, a lower debt-to-income ratio, financial statements, and other documents.


What is a typical term for a land loan?

Land loans have shorter terms than a 15-year or 30-year traditional mortgage. Land loan terms are usually between 5 to 10 years, but could be longer depending on the lender. Some land loans are structured as balloon payments where the borrower is only required to make interest-only payments during the initial years and then the whole loan balance is due after the initial period is over. The last payment will be huge compared to the initial monthly payments so borrowers should have a plan to pay off that large payment or face defaults.



Land Loan Alternatives

There are land loan alternatives such as a home equity loan or seller finance loan to buy land.


1. Home Equity Loan

If you have a home with significant equity, you can get a home equity loan instead of a land loan. The main benefit of a home equity loan is a much lower interest rate because it is secured by your home. A typical term for a home equity loan can range from 5 to 30 years. The downside of a home equity loan is that you may lose your home if you default on the loan.


2. Seller Financing

Another alternative to a land loan is a seller financing loan. Seller financing loans are usually short-term and have a high-interest rate. Keep in mind that sellers are not in the business of financing, they may only be interested in seller financing if they can't find any other buyer or when they are highly motivated to sell.


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