Free land loan calculator for raw, vacant, or farm land: larger down payments, long terms, and quarterly or annual payments, no sign-up.
Estimates only. Your lender's statement is the number that counts. Read how we calculate.
Land loans carry larger down payments, longer or shorter terms than a mortgage, and often quarterly or annual payments. This calculator handles all three.
Enter the land price and your down payment, then the rate your lender quoted, the term, and how often you will pay. The hero tile relabels itself for monthly, quarterly, semiannual, or annual payments. Land type changes only the notes; the arithmetic is the same.
The loan amount is the land price minus your down payment. The payment per period uses the standard amortization formula, M = L × i ÷ (1 − (1 + i)−n), with the periodic rate i equal to the annual rate divided by the number of payments per year (12, 4, 2, or 1) and n equal to years times that number (Calculator.net amortization calculator, amortization schedule, Wikipedia). The schedule then charges interest on the opening balance each period and applies the rest to principal.
Why land loans differ. With no house securing the loan, lenders ask for more down, offer shorter terms on raw land and longer ones on farm land, and price the rate above a mortgage. Several lenders in the sample amortize over 20 years but make the balance due after 10; if yours does, the balloon payment calculator models that structure.
The rate range. This page shows no "today's rate," because none exists for land. The note under the rate field gives the range seen on lender rate sheets when they were last checked: Texas Veterans Land Board (7.25%), Neighbors FCU (5.000%, 12-year lot and land), Webster First (5.000% rate, 25% down, 1 to 10 year terms), Country Bank (7.250% building lot with 20% down; 8.250% raw land with 40% down), MSGCU (7.250% 10-year fixed), DuGood (5.75% to 6.00%, 20% down), and EastRise (5.63% to 6.13% adjustable, 20-year amortization with a 10-year term). Those are examples of what lenders publish, not offers.
| $200,000 loan, 20 years, monthly | $200,000 loan, 20 years, quarterly | $200,000 loan, 30 years, annual | $150,000 land, 20% down, 15 years, monthly | |
|---|---|---|---|---|
| Loan amount | $200,000 | $200,000 | $200,000 | $120,000 |
| Payment | $1,580.75 / month | $4,754.95 / quarter | $16,523.92 / year | $1,095.44 / month |
| Total interest | $179,380.47 | $180,395.62 | $295,717.71 | $77,178.38 |
A Texas example. The first column uses 7.25%, the rate published by the Texas Veterans Land Board when it was checked for this page. VLB land loans have their own eligibility rules and limits, which are on the VLB site; the arithmetic here is the same for any lender at that rate.
Cedrick Reese built this calculator. The payment formula is the standard amortization formula with the periodic rate scaled to the payment frequency; its $250,000 monthly base case matches figures published by several independent calculators to the cent. The rate range in the note under the rate field comes from the lender rate sheets linked above, checked on the stamped date, and is rechecked periodically; the calculator itself carries no live rate. If a lender's schedule differs from this one by more than rounding, send the inputs through the contact page.
Last reviewed: .
Often more. Among the lender rate sheets checked for this page, minimum down payments ran from 20% for lots and improved land to 40% for raw land, and lender guides commonly cite 35% to 50% for raw land; the FDIC minimums LendingTree reports are 15% improved, 25% unimproved, and 35% raw. Raw land is harder to sell if a borrower defaults, so lenders want more equity up front. Enter your lender's requirement above and the loan amount adjusts.
Harder than a home loan, because there is no house to secure it. Expect a larger down payment, a shorter term or a balloon structure, and a higher rate than a mortgage, with raw land at the strict end and improved lots at the easier end. Farm-credit cooperatives and local banks are the lenders most often set up for it.
At 7.25% over 20 years with monthly payments, about $1,580.75 a month, with roughly $179,380 in total interest. That rate is an example from a lender sheet checked for this page, not a quote; change the rate, term, or frequency above and the figure updates. Over 30 years with annual payments the same loan is about $16,524 a year.
There is no single rate. Land loan rates are set lender by lender and depend on land type, term, and down payment. Lender rate sheets checked for this page ranged from about 5.00% to 8.25%, with raw land at the top of that range. The date those sheets were checked is stamped in the note under the rate field, and the range is rechecked periodically.
Raw land has no road access or utilities. Unimproved land has road access but no utilities. Improved land has both and is often ready to build on. Lenders treat raw land as the riskiest, so it carries the largest down payments and shortest terms; improved land is closest to a normal mortgage. Farm land is usually financed by agricultural lenders on their own terms.
Many farm-credit and rural lenders offer monthly, quarterly, semiannual, and annual payments, because farm income arrives seasonally. The frequency control above changes the payment and the schedule; the total interest stays close across frequencies because the periodic rate is scaled to match.
Yes. The math is the same; what differs is the terms, which is why the calculator offers 30 and 40 year presets and annual or semiannual payments. Pick Farm as the land type for the notes that apply. Some farm lenders amortize over a long schedule with an earlier due date; the balloon payment calculator handles that structure.