Getting a Land Loan Is Trickier Than Getting a Mortgage Fact checked by Melody Kazel A land loan is a type of credit used to finance the purchase of a plot of land. It’s sometimes called a lot loan.

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A land loan lets you borrow money to purchase an empty plot of land, although there are different types of “land” that fall under these products, ranging from raw land that has no access to utilities ...

Buying land can open potential for business, investment or building a home, but lenders typically don’t offer traditional mortgages for land without a valuable structure on it such as a home.