Land loans = financing for vacant property purchase (no house), **harder to qualify** than mortgages (land = riskier collateral). **2025 typical terms**: **(1) Down payment**: **20-50%** (vs 5-20% home) - unimproved land requires 30-50%, improved lots 20-35%.

Example: $100k raw land → $40k down (40%) typical. **(2) Interest rates**: **8-11%** (vs 7-7.5% mortgage) - 1-2% premium for land-only risk. $100k land @ 9.5% for 15yr = $1,045/mo. **(3) Loan terms**: **10-20 years** (vs 30yr mortgage) - shorter terms = higher monthly payment. 15yr @ 9.5% vs 30yr @ 7.5% = $1,045 vs $699 (50% higher payment). **(4) Land types**: **Improved lot** (utilities, road access, surveyed) = easier approval, 20-25% down. **Unimproved/raw land** (no utilities, off-grid) = 40-50% down, higher rates. **Rural acreage** (10+ acres) = agricultural loan option (Farm Credit) may offer better terms. **Where to get**: (a) **Local banks/credit unions** = best for land loans (50% down, 8-9% rates). (b) **Farm Credit** = rural land specialist (25-35% down, 7-8% rates if qualified). (c) **Online lenders** (LightStream, SoFi) = personal loans for land (10-15% rates, unsecured). (d) **Seller financing** = common for land (10-20% down, 6-8% rates, 5-10yr balloon). **Approval factors**: (1) Credit score 720+ preferred (vs 620 for FHA), (2) DTI <43% (same as mortgage), (3) **Land use plan** (build timeline, zoning proof) - lenders want development intent, not speculation.