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A land loan can help you buy the lot you need to build your dream home. Here's how they work

1 month ago   |   By Business Insider

Some land loans are structured to include a balloon payment at the end of the term. Jenny Pfeiffer/Getty
You can get a loan for raw, unimproved, or improved land purchases.
Land loans tend to have shorter terms and higher interest rates than home loans.
The right lender can be hard to come by for this relatively niche loan product.
If you want to build a home from the ground up, start a new business location, or tackle a new farming venture, you'll need a plot of land. Whether you want to build soon or in the distant future, a land mortgage provides an opportunity to finance your land...
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