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
Right of an individual to be offered something before it is offered to others. For example, a tenant whose apartment is going to be converted to a cooperative has the first right of ...
The fire insurance term is a policy used in property insurance that ensures any damage or loss that was a result of a fire. Most affordable home insurances cover fire insurance but other ...
Mortgage for an extended time period (e.g., 25 years) Type of real estate investment trust (REIT) that gives long-term mortgages to real estate developers and contractors on new or ...
Early American frontier-style house constructed of logs. Since finished lumber was not readily available during the early frontier period of American history, homes were often fashioned out ...
Contract to act on the behalf of a principal in selling real estate. The principal agrees to pay a commission to the broker when a buyer is produced who is ready, willing, and able to meet ...
The meaning of commercial acre in the United States defines the remaining part of an acre of a newly divided land once curbs, streets, and boardwalks have been separated from the original ...
Created by law usually for the right to travel to landlocked parcel of land ...
Siding made out of aluminum, plastic derivates, or cement asbestos having ridges and valleys which is attached to the sides of buildings. ...
(1) Paved roadway constructed above lowlands such as a swamp. (2) Roadway in ancient Egypt connecting the valley temple with a pyramid. ...
Have a question or comment?
We're here to help.