A land loan finances the purchase of a piece of property with no home on it yet. That covers a lot of ground, literally: a lot inside a planned neighborhood where you intend to build soon, unimproved raw land with no utilities or road access, and recreational or rural acreage you're buying to hunt, camp, ride ATVs on, or just hold onto, with no plan to ever put a structure on it.
Land loans generally require a larger down payment than a home purchase, and terms are often shorter, since land alone is harder for a lender to resell than land with a house on it. How much a lender will finance also depends heavily on the land itself: whether it has road access and utilities nearby, or whether it's truly off-grid.
If building is part of your plan, a land loan can sometimes be paired with construction financing down the road. If it's purely recreational, that's fine too. We'll shop lenders who understand that not every piece of land is a future homesite.
Get StartedCommon Questions
Can I get a land loan if I have no plans to ever build on it?
Yes. Recreational and rural land purchases, hunting property, ATV land, or acreage you just want to own, are a real and common use for a land loan.
Why do land loans usually need a bigger down payment?
Vacant land is harder for a lender to resell than a property with a home on it, so lenders offset that risk with a larger down payment and often a shorter term.
Other Loan Programs
No Down Payment for Military Families
FHA LoanEasier to Qualify For
Conventional LoanThe Standard Option
USDA LoanNo Down Payment Outside the City
Jumbo LoanFor Higher-Priced Homes
RefinancingTrade In Your Current Loan
Commercial LoanFinancing for Buildings That Make Money
Construction LoanFinancing to Build, Not Just Buy
Doctor LoanBuilt for Big Student Debt and Bigger Potential
Renovation LoanBuy the Fixer-Upper and Fund the Fix
DSCR LoanQualify on the Property, Not Your Paycheck
Asset Depletion LoanLet Your Savings Do the Talking
Fix & Flip LoanMove Fast on the Next Flip
HELOCA Credit Line Backed by Your Home
Manufactured Home LoanFinancing Built for Manufactured Housing
Second Home LoanFinancing for the Place You Escape To
Multi-Family LoanLive in One Unit, Rent Out the Rest
Non-Warrantable Condo LoanWhen the Condo Doesn't Fit the Standard Box
Reverse MortgageTurn Home Equity Into Income, Without a Monthly Payment
Foreign National LoanFinancing for Buyers Without U.S. Credit History
ITIN LoanHomeownership Without a Social Security Number
Bank Statement LoanWhen Your Tax Return Doesn't Show Your Real Income
This is general information, not a commitment to lend. Rates, terms, and eligibility vary by lender and are subject to underwriting guidelines. East Coast Mortgage is an Equal Housing Lender, NMLS #2354674.