Land Loan
Definition of "Land loan"
A loan used for acquiring land. Loans used to purchase unimproved land have more risk than a mortgage to purchase improved property, thus, land loans traditionally have a somewhat higher rate of interest and may require a larger down payment than a standard home mortgage.
Popular Real Estate Terms
The equity in property because of work in it by the buyer or holder which directly increases its value. ...
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Individual or business to which all rights (usually intangile) to property have been transferred. ...
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