Land Loan Calculator
Estimate your land purchase financing options
Loan Details
Loan Summary
Frequently Asked Questions
A land loan calculator helps you estimate monthly payments and total interest for purchasing undeveloped land. It differs from standard mortgage calculators as land loans often have different terms and interest rates.
Interest on land loans is typically calculated using simple interest, based on the outstanding principal balance. Rates are often higher than traditional mortgages due to the higher risk associated with land purchases.
Principal & Interest (P&I) payments have equal payments throughout the term with varying principal/interest ratios. Fixed Principal payments have equal principal amounts with decreasing interest amounts, resulting in decreasing total payments over time.
Making Informed Decisions
This land loan calculator provides estimates to help you plan your land purchase. Remember that actual loan terms may vary based on your creditworthiness, the property location, and lender policies. Always consult with a financial advisor or loan specialist before making significant financial commitments.
Land loans can be complex, with factors like zoning, access to utilities, and intended use affecting both availability and terms. Use this calculator as a starting point for your financial planning.