Calculate your land loan payments and amortization schedule
Estimated Monthly Payment
Loan Amount
$200,000
Total Interest
$84,430.60
Loan Term
15 years
Total Cost
$284,430.60
| Year | Principal | Interest | Balance |
|---|
Land loans typically require 20-50% down payment compared to 3-20% for home mortgages. The more you can put down, the better your terms will be.
Land loans usually have shorter terms (5-20 years) compared to traditional home mortgages (15-30 years). This means higher monthly payments.
Expect interest rates 1-5% higher than standard mortgage rates, as land is considered higher risk for lenders.