Land Loan

Definition of "Land loan"

Luis A. & Kayla Badillo
Luis A. & Kayla Badillo Keller Williams Realty Premier Properties

A loan used for acquiring land. Loans used to purchase unimproved land have more risk than a mortgage to purchase improved property, thus, land loans traditionally have a somewhat higher rate of interest and may require a larger down payment than a standard home mortgage.

Search Real Estate Glossary

Related Real Estate Glossary terms

Related Real Estate FAQ