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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 Show By Year

Loan Summary

Loan Amount:
$255,000.00
Monthly Payment:
$1,471.95
Total # Of Payments:
360
Start Date:
May, 2023
Payoff Date:
Apr, 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
May, 2023 1 $1,200.63 $271.33 $1,471.95 $254,728.67
Jun, 2023 2 $1,199.35 $272.60 $1,471.95 $254,456.07
Jul, 2023 3 $1,198.06 $273.89 $1,471.95 $254,182.18
Aug, 2023 4 $1,196.77 $275.18 $1,471.95 $253,907.01
Sep, 2023 5 $1,195.48 $276.47 $1,471.95 $253,630.53
Oct, 2023 6 $1,194.18 $277.77 $1,471.95 $253,352.76
Nov, 2023 7 $1,192.87 $279.08 $1,471.95 $253,073.68
Dec, 2023 8 $1,191.56 $280.40 $1,471.95 $252,793.28
Jan, 2024 9 $1,190.24 $281.72 $1,471.95 $252,511.56
Feb, 2024 10 $1,188.91 $283.04 $1,471.95 $252,228.52
Mar, 2024 11 $1,187.58 $284.38 $1,471.95 $251,944.15
Apr, 2024 12 $1,186.24 $285.71 $1,471.95 $251,658.43
May, 2024 13 $1,184.89 $287.06 $1,471.95 $251,371.37
Jun, 2024 14 $1,183.54 $288.41 $1,471.95 $251,082.96
Jul, 2024 15 $1,182.18 $289.77 $1,471.95 $250,793.19
Aug, 2024 16 $1,180.82 $291.13 $1,471.95 $250,502.06
Sep, 2024 17 $1,179.45 $292.50 $1,471.95 $250,209.56
Oct, 2024 18 $1,178.07 $293.88 $1,471.95 $249,915.67
Nov, 2024 19 $1,176.69 $295.26 $1,471.95 $249,620.41
Dec, 2024 20 $1,175.30 $296.66 $1,471.95 $249,323.75
Jan, 2025 21 $1,173.90 $298.05 $1,471.95 $249,025.70
Feb, 2025 22 $1,172.50 $299.46 $1,471.95 $248,726.25
Mar, 2025 23 $1,171.09 $300.87 $1,471.95 $248,425.38
Apr, 2025 24 $1,169.67 $302.28 $1,471.95 $248,123.10
May, 2025 25 $1,168.25 $303.70 $1,471.95 $247,819.40
Jun, 2025 26 $1,166.82 $305.13 $1,471.95 $247,514.26
Jul, 2025 27 $1,165.38 $306.57 $1,471.95 $247,207.69
Aug, 2025 28 $1,163.94 $308.02 $1,471.95 $246,899.67
Sep, 2025 29 $1,162.49 $309.47 $1,471.95 $246,590.21
Oct, 2025 30 $1,161.03 $310.92 $1,471.95 $246,279.29
Nov, 2025 31 $1,159.56 $312.39 $1,471.95 $245,966.90
Dec, 2025 32 $1,158.09 $313.86 $1,471.95 $245,653.04
Jan, 2026 33 $1,156.62 $315.33 $1,471.95 $245,337.71
Feb, 2026 34 $1,155.13 $316.82 $1,471.95 $245,020.89
Mar, 2026 35 $1,153.64 $318.31 $1,471.95 $244,702.58
Apr, 2026 36 $1,152.14 $319.81 $1,471.95 $244,382.77
May, 2026 37 $1,150.64 $321.32 $1,471.95 $244,061.45
Jun, 2026 38 $1,149.12 $322.83 $1,471.95 $243,738.62
Jul, 2026 39 $1,147.60 $324.35 $1,471.95 $243,414.27
Aug, 2026 40 $1,146.08 $325.88 $1,471.95 $243,088.40
Sep, 2026 41 $1,144.54 $327.41 $1,471.95 $242,760.99
Oct, 2026 42 $1,143.00 $328.95 $1,471.95 $242,432.04
Nov, 2026 43 $1,141.45 $330.50 $1,471.95 $242,101.54
Dec, 2026 44 $1,139.89 $332.06 $1,471.95 $241,769.48
Jan, 2027 45 $1,138.33 $333.62 $1,471.95 $241,435.86
Feb, 2027 46 $1,136.76 $335.19 $1,471.95 $241,100.67
Mar, 2027 47 $1,135.18 $336.77 $1,471.95 $240,763.90
Apr, 2027 48 $1,133.60 $338.35 $1,471.95 $240,425.55
May, 2027 49 $1,132.00 $339.95 $1,471.95 $240,085.60
Jun, 2027 50 $1,130.40 $341.55 $1,471.95 $239,744.05
Jul, 2027 51 $1,128.79 $343.16 $1,471.95 $239,400.89
Aug, 2027 52 $1,127.18 $344.77 $1,471.95 $239,056.12
Sep, 2027 53 $1,125.56 $346.40 $1,471.95 $238,709.73
Oct, 2027 54 $1,123.92 $348.03 $1,471.95 $238,361.70
Nov, 2027 55 $1,122.29 $349.66 $1,471.95 $238,012.03
Dec, 2027 56 $1,120.64 $351.31 $1,471.95 $237,660.72
Jan, 2028 57 $1,118.99 $352.97 $1,471.95 $237,307.76
Feb, 2028 58 $1,117.32 $354.63 $1,471.95 $236,953.13
Mar, 2028 59 $1,115.65 $356.30 $1,471.95 $236,596.83
Apr, 2028 60 $1,113.98 $357.97 $1,471.95 $236,238.86
May, 2028 61 $1,112.29 $359.66 $1,471.95 $235,879.20
Jun, 2028 62 $1,110.60 $361.35 $1,471.95 $235,517.85
Jul, 2028 63 $1,108.90 $363.05 $1,471.95 $235,154.79
Aug, 2028 64 $1,107.19 $364.76 $1,471.95 $234,790.03
Sep, 2028 65 $1,105.47 $366.48 $1,471.95 $234,423.55
Oct, 2028 66 $1,103.74 $368.21 $1,471.95 $234,055.34
Nov, 2028 67 $1,102.01 $369.94 $1,471.95 $233,685.40
Dec, 2028 68 $1,100.27 $371.68 $1,471.95 $233,313.72
Jan, 2029 69 $1,098.52 $373.43 $1,471.95 $232,940.28
Feb, 2029 70 $1,096.76 $375.19 $1,471.95 $232,565.09
Mar, 2029 71 $1,094.99 $376.96 $1,471.95 $232,188.13
Apr, 2029 72 $1,093.22 $378.73 $1,471.95 $231,809.40
May, 2029 73 $1,091.44 $380.52 $1,471.95 $231,428.89
Jun, 2029 74 $1,089.64 $382.31 $1,471.95 $231,046.58
Jul, 2029 75 $1,087.84 $384.11 $1,471.95 $230,662.47
Aug, 2029 76 $1,086.04 $385.92 $1,471.95 $230,276.56
Sep, 2029 77 $1,084.22 $387.73 $1,471.95 $229,888.83
Oct, 2029 78 $1,082.39 $389.56 $1,471.95 $229,499.27
Nov, 2029 79 $1,080.56 $391.39 $1,471.95 $229,107.88
Dec, 2029 80 $1,078.72 $393.24 $1,471.95 $228,714.64
Jan, 2030 81 $1,076.86 $395.09 $1,471.95 $228,319.55
Feb, 2030 82 $1,075.00 $396.95 $1,471.95 $227,922.61
Mar, 2030 83 $1,073.14 $398.82 $1,471.95 $227,523.79
Apr, 2030 84 $1,071.26 $400.69 $1,471.95 $227,123.10
May, 2030 85 $1,069.37 $402.58 $1,471.95 $226,720.52
Jun, 2030 86 $1,067.48 $404.48 $1,471.95 $226,316.04
Jul, 2030 87 $1,065.57 $406.38 $1,471.95 $225,909.66
Aug, 2030 88 $1,063.66 $408.29 $1,471.95 $225,501.37
Sep, 2030 89 $1,061.74 $410.22 $1,471.95 $225,091.15
Oct, 2030 90 $1,059.80 $412.15 $1,471.95 $224,679.01
Nov, 2030 91 $1,057.86 $414.09 $1,471.95 $224,264.92
Dec, 2030 92 $1,055.91 $416.04 $1,471.95 $223,848.88
Jan, 2031 93 $1,053.96 $418.00 $1,471.95 $223,430.89
Feb, 2031 94 $1,051.99 $419.96 $1,471.95 $223,010.92
Mar, 2031 95 $1,050.01 $421.94 $1,471.95 $222,588.98
Apr, 2031 96 $1,048.02 $423.93 $1,471.95 $222,165.05
May, 2031 97 $1,046.03 $425.92 $1,471.95 $221,739.13
Jun, 2031 98 $1,044.02 $427.93 $1,471.95 $221,311.20
Jul, 2031 99 $1,042.01 $429.94 $1,471.95 $220,881.25
Aug, 2031 100 $1,039.98 $431.97 $1,471.95 $220,449.29
Sep, 2031 101 $1,037.95 $434.00 $1,471.95 $220,015.28
Oct, 2031 102 $1,035.91 $436.05 $1,471.95 $219,579.24
Nov, 2031 103 $1,033.85 $438.10 $1,471.95 $219,141.14
Dec, 2031 104 $1,031.79 $440.16 $1,471.95 $218,700.98
Jan, 2032 105 $1,029.72 $442.23 $1,471.95 $218,258.74
Feb, 2032 106 $1,027.63 $444.32 $1,471.95 $217,814.43
Mar, 2032 107 $1,025.54 $446.41 $1,471.95 $217,368.02
Apr, 2032 108 $1,023.44 $448.51 $1,471.95 $216,919.51
May, 2032 109 $1,021.33 $450.62 $1,471.95 $216,468.88
Jun, 2032 110 $1,019.21 $452.74 $1,471.95 $216,016.14
Jul, 2032 111 $1,017.08 $454.88 $1,471.95 $215,561.27
Aug, 2032 112 $1,014.93 $457.02 $1,471.95 $215,104.25
Sep, 2032 113 $1,012.78 $459.17 $1,471.95 $214,645.08
Oct, 2032 114 $1,010.62 $461.33 $1,471.95 $214,183.75
Nov, 2032 115 $1,008.45 $463.50 $1,471.95 $213,720.25
Dec, 2032 116 $1,006.27 $465.69 $1,471.95 $213,254.56
Jan, 2033 117 $1,004.07 $467.88 $1,471.95 $212,786.68
Feb, 2033 118 $1,001.87 $470.08 $1,471.95 $212,316.60
Mar, 2033 119 $999.66 $472.29 $1,471.95 $211,844.31
Apr, 2033 120 $997.43 $474.52 $1,471.95 $211,369.79
May, 2033 121 $995.20 $476.75 $1,471.95 $210,893.04
Jun, 2033 122 $992.95 $479.00 $1,471.95 $210,414.04
Jul, 2033 123 $990.70 $481.25 $1,471.95 $209,932.79
Aug, 2033 124 $988.43 $483.52 $1,471.95 $209,449.27
Sep, 2033 125 $986.16 $485.79 $1,471.95 $208,963.48
Oct, 2033 126 $983.87 $488.08 $1,471.95 $208,475.40
Nov, 2033 127 $981.57 $490.38 $1,471.95 $207,985.02
Dec, 2033 128 $979.26 $492.69 $1,471.95 $207,492.33
Jan, 2034 129 $976.94 $495.01 $1,471.95 $206,997.32
Feb, 2034 130 $974.61 $497.34 $1,471.95 $206,499.98
Mar, 2034 131 $972.27 $499.68 $1,471.95 $206,000.30
Apr, 2034 132 $969.92 $502.03 $1,471.95 $205,498.27
May, 2034 133 $967.55 $504.40 $1,471.95 $204,993.87
Jun, 2034 134 $965.18 $506.77 $1,471.95 $204,487.10
Jul, 2034 135 $962.79 $509.16 $1,471.95 $203,977.94
Aug, 2034 136 $960.40 $511.56 $1,471.95 $203,466.39
Sep, 2034 137 $957.99 $513.96 $1,471.95 $202,952.42
Oct, 2034 138 $955.57 $516.38 $1,471.95 $202,436.04
Nov, 2034 139 $953.14 $518.81 $1,471.95 $201,917.23
Dec, 2034 140 $950.69 $521.26 $1,471.95 $201,395.97
Jan, 2035 141 $948.24 $523.71 $1,471.95 $200,872.26
Feb, 2035 142 $945.77 $526.18 $1,471.95 $200,346.08
Mar, 2035 143 $943.30 $528.66 $1,471.95 $199,817.42
Apr, 2035 144 $940.81 $531.14 $1,471.95 $199,286.28
May, 2035 145 $938.31 $533.65 $1,471.95 $198,752.63
Jun, 2035 146 $935.79 $536.16 $1,471.95 $198,216.48
Jul, 2035 147 $933.27 $538.68 $1,471.95 $197,677.79
Aug, 2035 148 $930.73 $541.22 $1,471.95 $197,136.58
Sep, 2035 149 $928.18 $543.77 $1,471.95 $196,592.81
Oct, 2035 150 $925.62 $546.33 $1,471.95 $196,046.48
Nov, 2035 151 $923.05 $548.90 $1,471.95 $195,497.58
Dec, 2035 152 $920.47 $551.48 $1,471.95 $194,946.10
Jan, 2036 153 $917.87 $554.08 $1,471.95 $194,392.02
Feb, 2036 154 $915.26 $556.69 $1,471.95 $193,835.33
Mar, 2036 155 $912.64 $559.31 $1,471.95 $193,276.02
Apr, 2036 156 $910.01 $561.94 $1,471.95 $192,714.08
May, 2036 157 $907.36 $564.59 $1,471.95 $192,149.49
Jun, 2036 158 $904.70 $567.25 $1,471.95 $191,582.24
Jul, 2036 159 $902.03 $569.92 $1,471.95 $191,012.32
Aug, 2036 160 $899.35 $572.60 $1,471.95 $190,439.72
Sep, 2036 161 $896.65 $575.30 $1,471.95 $189,864.42
Oct, 2036 162 $893.94 $578.01 $1,471.95 $189,286.42
Nov, 2036 163 $891.22 $580.73 $1,471.95 $188,705.69
Dec, 2036 164 $888.49 $583.46 $1,471.95 $188,122.23
Jan, 2037 165 $885.74 $586.21 $1,471.95 $187,536.02
Feb, 2037 166 $882.98 $588.97 $1,471.95 $186,947.05
Mar, 2037 167 $880.21 $591.74 $1,471.95 $186,355.31
Apr, 2037 168 $877.42 $594.53 $1,471.95 $185,760.78
May, 2037 169 $874.62 $597.33 $1,471.95 $185,163.45
Jun, 2037 170 $871.81 $600.14 $1,471.95 $184,563.31
Jul, 2037 171 $868.99 $602.97 $1,471.95 $183,960.35
Aug, 2037 172 $866.15 $605.80 $1,471.95 $183,354.54
Sep, 2037 173 $863.29 $608.66 $1,471.95 $182,745.88
Oct, 2037 174 $860.43 $611.52 $1,471.95 $182,134.36
Nov, 2037 175 $857.55 $614.40 $1,471.95 $181,519.96
Dec, 2037 176 $854.66 $617.29 $1,471.95 $180,902.66
Jan, 2038 177 $851.75 $620.20 $1,471.95 $180,282.46
Feb, 2038 178 $848.83 $623.12 $1,471.95 $179,659.34
Mar, 2038 179 $845.90 $626.06 $1,471.95 $179,033.29
Apr, 2038 180 $842.95 $629.00 $1,471.95 $178,404.28
May, 2038 181 $839.99 $631.96 $1,471.95 $177,772.32
Jun, 2038 182 $837.01 $634.94 $1,471.95 $177,137.38
Jul, 2038 183 $834.02 $637.93 $1,471.95 $176,499.45
Aug, 2038 184 $831.02 $640.93 $1,471.95 $175,858.52
Sep, 2038 185 $828.00 $643.95 $1,471.95 $175,214.57
Oct, 2038 186 $824.97 $646.98 $1,471.95 $174,567.58
Nov, 2038 187 $821.92 $650.03 $1,471.95 $173,917.55
Dec, 2038 188 $818.86 $653.09 $1,471.95 $173,264.47
Jan, 2039 189 $815.79 $656.16 $1,471.95 $172,608.30
Feb, 2039 190 $812.70 $659.25 $1,471.95 $171,949.05
Mar, 2039 191 $809.59 $662.36 $1,471.95 $171,286.69
Apr, 2039 192 $806.47 $665.48 $1,471.95 $170,621.21
May, 2039 193 $803.34 $668.61 $1,471.95 $169,952.60
Jun, 2039 194 $800.19 $671.76 $1,471.95 $169,280.85
Jul, 2039 195 $797.03 $674.92 $1,471.95 $168,605.92
Aug, 2039 196 $793.85 $678.10 $1,471.95 $167,927.83
Sep, 2039 197 $790.66 $681.29 $1,471.95 $167,246.54
Oct, 2039 198 $787.45 $684.50 $1,471.95 $166,562.04
Nov, 2039 199 $784.23 $687.72 $1,471.95 $165,874.31
Dec, 2039 200 $780.99 $690.96 $1,471.95 $165,183.36
Jan, 2040 201 $777.74 $694.21 $1,471.95 $164,489.14
Feb, 2040 202 $774.47 $697.48 $1,471.95 $163,791.66
Mar, 2040 203 $771.19 $700.77 $1,471.95 $163,090.90
Apr, 2040 204 $767.89 $704.06 $1,471.95 $162,386.83
May, 2040 205 $764.57 $707.38 $1,471.95 $161,679.45
Jun, 2040 206 $761.24 $710.71 $1,471.95 $160,968.74
Jul, 2040 207 $757.89 $714.06 $1,471.95 $160,254.68
Aug, 2040 208 $754.53 $717.42 $1,471.95 $159,537.26
Sep, 2040 209 $751.15 $720.80 $1,471.95 $158,816.47
Oct, 2040 210 $747.76 $724.19 $1,471.95 $158,092.28
Nov, 2040 211 $744.35 $727.60 $1,471.95 $157,364.68
Dec, 2040 212 $740.93 $731.03 $1,471.95 $156,633.65
Jan, 2041 213 $737.48 $734.47 $1,471.95 $155,899.18
Feb, 2041 214 $734.03 $737.93 $1,471.95 $155,161.26
Mar, 2041 215 $730.55 $741.40 $1,471.95 $154,419.86
Apr, 2041 216 $727.06 $744.89 $1,471.95 $153,674.97
May, 2041 217 $723.55 $748.40 $1,471.95 $152,926.57
Jun, 2041 218 $720.03 $751.92 $1,471.95 $152,174.65
Jul, 2041 219 $716.49 $755.46 $1,471.95 $151,419.18
Aug, 2041 220 $712.93 $759.02 $1,471.95 $150,660.16
Sep, 2041 221 $709.36 $762.59 $1,471.95 $149,897.57
Oct, 2041 222 $705.77 $766.18 $1,471.95 $149,131.39
Nov, 2041 223 $702.16 $769.79 $1,471.95 $148,361.60
Dec, 2041 224 $698.54 $773.42 $1,471.95 $147,588.18
Jan, 2042 225 $694.89 $777.06 $1,471.95 $146,811.12
Feb, 2042 226 $691.24 $780.72 $1,471.95 $146,030.41
Mar, 2042 227 $687.56 $784.39 $1,471.95 $145,246.02
Apr, 2042 228 $683.87 $788.08 $1,471.95 $144,457.93
May, 2042 229 $680.16 $791.80 $1,471.95 $143,666.14
Jun, 2042 230 $676.43 $795.52 $1,471.95 $142,870.61
Jul, 2042 231 $672.68 $799.27 $1,471.95 $142,071.35
Aug, 2042 232 $668.92 $803.03 $1,471.95 $141,268.31
Sep, 2042 233 $665.14 $806.81 $1,471.95 $140,461.50
Oct, 2042 234 $661.34 $810.61 $1,471.95 $139,650.89
Nov, 2042 235 $657.52 $814.43 $1,471.95 $138,836.46
Dec, 2042 236 $653.69 $818.26 $1,471.95 $138,018.20
Jan, 2043 237 $649.84 $822.12 $1,471.95 $137,196.08
Feb, 2043 238 $645.96 $825.99 $1,471.95 $136,370.10
Mar, 2043 239 $642.08 $829.88 $1,471.95 $135,540.22
Apr, 2043 240 $638.17 $833.78 $1,471.95 $134,706.44
May, 2043 241 $634.24 $837.71 $1,471.95 $133,868.73
Jun, 2043 242 $630.30 $841.65 $1,471.95 $133,027.08
Jul, 2043 243 $626.34 $845.62 $1,471.95 $132,181.46
Aug, 2043 244 $622.35 $849.60 $1,471.95 $131,331.86
Sep, 2043 245 $618.35 $853.60 $1,471.95 $130,478.27
Oct, 2043 246 $614.34 $857.62 $1,471.95 $129,620.65
Nov, 2043 247 $610.30 $861.65 $1,471.95 $128,759.00
Dec, 2043 248 $606.24 $865.71 $1,471.95 $127,893.29
Jan, 2044 249 $602.16 $869.79 $1,471.95 $127,023.50
Feb, 2044 250 $598.07 $873.88 $1,471.95 $126,149.62
Mar, 2044 251 $593.95 $878.00 $1,471.95 $125,271.62
Apr, 2044 252 $589.82 $882.13 $1,471.95 $124,389.49
May, 2044 253 $585.67 $886.28 $1,471.95 $123,503.20
Jun, 2044 254 $581.49 $890.46 $1,471.95 $122,612.75
Jul, 2044 255 $577.30 $894.65 $1,471.95 $121,718.10
Aug, 2044 256 $573.09 $898.86 $1,471.95 $120,819.24
Sep, 2044 257 $568.86 $903.09 $1,471.95 $119,916.14
Oct, 2044 258 $564.61 $907.35 $1,471.95 $119,008.80
Nov, 2044 259 $560.33 $911.62 $1,471.95 $118,097.18
Dec, 2044 260 $556.04 $915.91 $1,471.95 $117,181.27
Jan, 2045 261 $551.73 $920.22 $1,471.95 $116,261.04
Feb, 2045 262 $547.40 $924.56 $1,471.95 $115,336.49
Mar, 2045 263 $543.04 $928.91 $1,471.95 $114,407.58
Apr, 2045 264 $538.67 $933.28 $1,471.95 $113,474.30
May, 2045 265 $534.27 $937.68 $1,471.95 $112,536.62
Jun, 2045 266 $529.86 $942.09 $1,471.95 $111,594.53
Jul, 2045 267 $525.42 $946.53 $1,471.95 $110,648.00
Aug, 2045 268 $520.97 $950.98 $1,471.95 $109,697.02
Sep, 2045 269 $516.49 $955.46 $1,471.95 $108,741.56
Oct, 2045 270 $511.99 $959.96 $1,471.95 $107,781.60
Nov, 2045 271 $507.47 $964.48 $1,471.95 $106,817.12
Dec, 2045 272 $502.93 $969.02 $1,471.95 $105,848.10
Jan, 2046 273 $498.37 $973.58 $1,471.95 $104,874.52
Feb, 2046 274 $493.78 $978.17 $1,471.95 $103,896.35
Mar, 2046 275 $489.18 $982.77 $1,471.95 $102,913.58
Apr, 2046 276 $484.55 $987.40 $1,471.95 $101,926.18
May, 2046 277 $479.90 $992.05 $1,471.95 $100,934.13
Jun, 2046 278 $475.23 $996.72 $1,471.95 $99,937.41
Jul, 2046 279 $470.54 $1,001.41 $1,471.95 $98,936.00
Aug, 2046 280 $465.82 $1,006.13 $1,471.95 $97,929.87
Sep, 2046 281 $461.09 $1,010.86 $1,471.95 $96,919.00
Oct, 2046 282 $456.33 $1,015.62 $1,471.95 $95,903.38
Nov, 2046 283 $451.55 $1,020.41 $1,471.95 $94,882.97
Dec, 2046 284 $446.74 $1,025.21 $1,471.95 $93,857.76
Jan, 2047 285 $441.91 $1,030.04 $1,471.95 $92,827.72
Feb, 2047 286 $437.06 $1,034.89 $1,471.95 $91,792.84
Mar, 2047 287 $432.19 $1,039.76 $1,471.95 $90,753.08
Apr, 2047 288 $427.30 $1,044.66 $1,471.95 $89,708.42
May, 2047 289 $422.38 $1,049.57 $1,471.95 $88,658.85
Jun, 2047 290 $417.44 $1,054.52 $1,471.95 $87,604.33
Jul, 2047 291 $412.47 $1,059.48 $1,471.95 $86,544.85
Aug, 2047 292 $407.48 $1,064.47 $1,471.95 $85,480.38
Sep, 2047 293 $402.47 $1,069.48 $1,471.95 $84,410.90
Oct, 2047 294 $397.43 $1,074.52 $1,471.95 $83,336.38
Nov, 2047 295 $392.38 $1,079.58 $1,471.95 $82,256.81
Dec, 2047 296 $387.29 $1,084.66 $1,471.95 $81,172.15
Jan, 2048 297 $382.19 $1,089.77 $1,471.95 $80,082.38
Feb, 2048 298 $377.05 $1,094.90 $1,471.95 $78,987.49
Mar, 2048 299 $371.90 $1,100.05 $1,471.95 $77,887.43
Apr, 2048 300 $366.72 $1,105.23 $1,471.95 $76,782.20
May, 2048 301 $361.52 $1,110.44 $1,471.95 $75,671.77
Jun, 2048 302 $356.29 $1,115.66 $1,471.95 $74,556.10
Jul, 2048 303 $351.03 $1,120.92 $1,471.95 $73,435.19
Aug, 2048 304 $345.76 $1,126.19 $1,471.95 $72,308.99
Sep, 2048 305 $340.45 $1,131.50 $1,471.95 $71,177.50
Oct, 2048 306 $335.13 $1,136.82 $1,471.95 $70,040.67
Nov, 2048 307 $329.77 $1,142.18 $1,471.95 $68,898.50
Dec, 2048 308 $324.40 $1,147.55 $1,471.95 $67,750.94
Jan, 2049 309 $318.99 $1,152.96 $1,471.95 $66,597.99
Feb, 2049 310 $313.57 $1,158.39 $1,471.95 $65,439.60
Mar, 2049 311 $308.11 $1,163.84 $1,471.95 $64,275.76
Apr, 2049 312 $302.63 $1,169.32 $1,471.95 $63,106.44
May, 2049 313 $297.13 $1,174.83 $1,471.95 $61,931.62
Jun, 2049 314 $291.59 $1,180.36 $1,471.95 $60,751.26
Jul, 2049 315 $286.04 $1,185.91 $1,471.95 $59,565.35
Aug, 2049 316 $280.45 $1,191.50 $1,471.95 $58,373.85
Sep, 2049 317 $274.84 $1,197.11 $1,471.95 $57,176.74
Oct, 2049 318 $269.21 $1,202.74 $1,471.95 $55,974.00
Nov, 2049 319 $263.54 $1,208.41 $1,471.95 $54,765.59
Dec, 2049 320 $257.85 $1,214.10 $1,471.95 $53,551.49
Jan, 2050 321 $252.14 $1,219.81 $1,471.95 $52,331.68
Feb, 2050 322 $246.39 $1,225.56 $1,471.95 $51,106.12
Mar, 2050 323 $240.62 $1,231.33 $1,471.95 $49,874.80
Apr, 2050 324 $234.83 $1,237.12 $1,471.95 $48,637.67
May, 2050 325 $229.00 $1,242.95 $1,471.95 $47,394.72
Jun, 2050 326 $223.15 $1,248.80 $1,471.95 $46,145.92
Jul, 2050 327 $217.27 $1,254.68 $1,471.95 $44,891.24
Aug, 2050 328 $211.36 $1,260.59 $1,471.95 $43,630.65
Sep, 2050 329 $205.43 $1,266.52 $1,471.95 $42,364.13
Oct, 2050 330 $199.46 $1,272.49 $1,471.95 $41,091.64
Nov, 2050 331 $193.47 $1,278.48 $1,471.95 $39,813.16
Dec, 2050 332 $187.45 $1,284.50 $1,471.95 $38,528.67
Jan, 2051 333 $181.41 $1,290.55 $1,471.95 $37,238.12
Feb, 2051 334 $175.33 $1,296.62 $1,471.95 $35,941.50
Mar, 2051 335 $169.22 $1,302.73 $1,471.95 $34,638.77
Apr, 2051 336 $163.09 $1,308.86 $1,471.95 $33,329.91
May, 2051 337 $156.93 $1,315.02 $1,471.95 $32,014.89
Jun, 2051 338 $150.74 $1,321.21 $1,471.95 $30,693.68
Jul, 2051 339 $144.52 $1,327.44 $1,471.95 $29,366.24
Aug, 2051 340 $138.27 $1,333.69 $1,471.95 $28,032.55
Sep, 2051 341 $131.99 $1,339.96 $1,471.95 $26,692.59
Oct, 2051 342 $125.68 $1,346.27 $1,471.95 $25,346.32
Nov, 2051 343 $119.34 $1,352.61 $1,471.95 $23,993.70
Dec, 2051 344 $112.97 $1,358.98 $1,471.95 $22,634.72
Jan, 2052 345 $106.57 $1,365.38 $1,471.95 $21,269.34
Feb, 2052 346 $100.14 $1,371.81 $1,471.95 $19,897.54
Mar, 2052 347 $93.68 $1,378.27 $1,471.95 $18,519.27
Apr, 2052 348 $87.19 $1,384.76 $1,471.95 $17,134.51
May, 2052 349 $80.67 $1,391.28 $1,471.95 $15,743.24
Jun, 2052 350 $74.12 $1,397.83 $1,471.95 $14,345.41
Jul, 2052 351 $67.54 $1,404.41 $1,471.95 $12,941.00
Aug, 2052 352 $60.93 $1,411.02 $1,471.95 $11,529.98
Sep, 2052 353 $54.29 $1,417.66 $1,471.95 $10,112.32
Oct, 2052 354 $47.61 $1,424.34 $1,471.95 $8,687.98
Nov, 2052 355 $40.91 $1,431.05 $1,471.95 $7,256.93
Dec, 2052 356 $34.17 $1,437.78 $1,471.95 $5,819.15
Jan, 2053 357 $27.40 $1,444.55 $1,471.95 $4,374.60
Feb, 2053 358 $20.60 $1,451.35 $1,471.95 $2,923.24
Mar, 2053 359 $13.76 $1,458.19 $1,471.95 $1,465.05
Apr, 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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