Land Loan
Definition of "Land loan"
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.
Popular Real Estate Terms
Timber in an original form, such as a pole. ...
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Estimated value of property after a specified time period. ...
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mortgage being reduced through periodic principal and interest payments. ...
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