Land Loan Calculator

Your details

The full agreed sale price of the land parcel.
Cash paid upfront. Land loans typically require 20-50% down because lenders view raw land as higher risk than improved property.
Land loans carry higher rates than home mortgages, typically 0.5-2 percentage points above conventional mortgage rates.
%
Most land loans run 10-20 years. Raw land loans tend to have shorter terms than improved-lot or construction loans.
years
Any upfront origination or closing fee charged by the lender. Added to your total cost of financing but not included in the monthly payment calculation.
Currency
Monthly paymentMeets typical minimum
$966.71

Fixed principal + interest payment each month

Loan amount$120,000.00
Total interest paid$112,010.84
Total cost of financing$232,010.84
Down payment percentage20%
Total amount paid$232,010.84
Interest-to-principal ratio0.93
Principal borrowed$120,000.00
Total interest$112,010.84

Your estimated monthly payment is $966.71.

  • Your 20% down payment meets the typical minimum for improved-lot loans, though raw land often requires 30% or more.
  • Over 20 years at 7.5%, you will pay 93 cents of interest for every dollar borrowed.
  • Land loans are typically not tax-deductible the same way a primary mortgage is. Consult a tax advisor about whether any deduction applies to your situation.

Next stepCompare offers from Farm Credit System lenders, community banks, and credit unions. Owner financing and land contracts are also worth exploring if traditional lenders require a larger down payment than you can provide.

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