🌱 Land Loan Calculator
Payment Summary
Monthly Payment:
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Total Loan Cost:
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Down Payment:
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Total Interest:
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Important Notes
- Land loans typically require 20-50% down payment
- Raw land loans often have higher interest rates
- Most land loans have 15-20 year terms maximum
- Approval requires detailed land usage plans
About This Land Loan Calculator
Key Features
- Calculates raw land, lot, and construction-ready loans
- Accounts for property taxes and land type
- Shows amortization schedule
- Includes USDA land loan options
How It Works
This calculator uses standard amortization formulas adjusted for land loan specifics:
Monthly Payment = P[r(1+r)^n]/[(1+r)^n-1]
Where:
P = Loan Principal
r = Monthly Interest Rate
n = Number of Payments
Why Use This Calculator?
- Compare different land loan scenarios
- Understand total acquisition costs
- Plan for down payment requirements
- Evaluate different land types financing
Land Loan Requirements
| Land Type | Typical Down Payment | Common Term | Interest Rate |
|---|---|---|---|
| Raw Land | 30-50% | 10-15 years | 7-12% |
| Improved Lot | 20-30% | 15-20 years | 6-9% |
| Construction-Ready | 15-25% | 20-30 years | 5-7% |
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