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
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Not attached to any parcel of land but merely a personal right to use the land of another. ...
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A step's edge. ...
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