![]() ![]() You’ll work with a loan officer, who’ll help you apply for the loan and check your credit. Like a traditional mortgage, land loans require a down payment, are secured by the property they purchase and paid back over time. This type of land has access to utilities and roads and is ready for building a house. This may also be referred to as “undeveloped” land, but must typically be conducive to building a home in the future. This land may have once had a house on it, but doesn’t any longer. While similar to raw land, unimproved land may have some basic infrastructure or older structures, but generally doesn’t have all of the water, electric and other utilities you’ll need. ![]() This is land with no improvements (such as water and sewer lines or road access) that would help make the property buildable.
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