Land Loan Payment Calculator
Calculate monthly payments, total costs, and amortization schedule for land financing
Calculate Land Loan Payment
Total value of the land you want to purchase
Annual percentage rate (APR)
How often you make payments
Length of time to repay the loan
Loan Details
Payment Results
Payment Schedule Preview (First 12 Payments)
| Payment # | Payment Amount | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $944 | $100 | $844 | $134,900 |
| 2 | $944 | $101 | $843 | $134,799 |
| 3 | $944 | $101 | $842 | $134,698 |
| 4 | $944 | $102 | $842 | $134,595 |
| 5 | $944 | $103 | $841 | $134,493 |
| 6 | $944 | $103 | $841 | $134,389 |
| 7 | $944 | $104 | $840 | $134,285 |
| 8 | $944 | $105 | $839 | $134,181 |
| 9 | $944 | $105 | $839 | $134,075 |
| 10 | $944 | $106 | $838 | $133,969 |
| 11 | $944 | $107 | $837 | $133,863 |
| 12 | $944 | $107 | $837 | $133,756 |
Example Calculation
Rural Land Purchase Example
Land Value: $150,000
Down Payment: $15,000 (10%)
Loan Amount: $135,000
Interest Rate: 7.5% APR
Loan Term: 30 years
Payment Frequency: Monthly
Calculation Results
Monthly Payment: $943.94
Total Interest: $204,818
Total Payment: $339,818
Down Payment %: 10%
Types of Land Loans
Raw Land
Undeveloped land
Highest down payment required
Improved Land
With utilities access
Moderate down payment
Construction Ready
Fully prepared for building
Lowest down payment
Down Payment Guidelines
Land Loan Tips
Have a clear plan for land use
Get professional land appraisal
Consider local bank options
Prepare for higher interest rates
Understanding Land Loans
What is a Land Loan?
A land loan is financing specifically for purchasing undeveloped property. Unlike home mortgages, land loans typically require larger down payments and carry higher interest rates due to increased risk for lenders.
Payment Formula
Payment = LV × [i(1+i)ⁿ] / [(1+i)ⁿ - 1]
- LV: Loan value (Land value - Down payment)
- i: Periodic interest rate
- n: Number of payments
Key Differences from Home Loans
- •Higher Down Payments: Typically 20-50% vs 3-20% for homes
- •Higher Interest Rates: Usually 1-3% higher than home loans
- •Shorter Terms: Often 15-20 years vs 30 years for homes
- •Stricter Requirements: Higher credit scores and income verification
Important: This calculator provides estimates. Actual loan terms vary significantly based on land type, location, and lender requirements.