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Any profitable attributes of raw land such as the timber value of forested land. When you borrow money to buy land, expect higher interest rates and down payment requirements than for a traditional mortgage. A land loan may also be classified as a construction or commercial loan.
Mortgage calculator ; How much house can you afford?. Land loans are a type of credit you can use to buy a vacant lot to eventually build a home on or raw land that you don’t intend to develop.
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