Land Loans or Personal Loans to Buy Land

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
What Is a Personal Loan?
Can You Use a Personal Loan to Buy Land?
Pros and Cons of Using a Personal Loan to Buy Land
Pros and Cons of Personal Loans for Land
What Is a Land Loan?
How Do Land Loans Work?
How Easy Is It to Get a Land Loan?
Personal Loans vs Land Loans
Types of Land Loans
Raw Land Loans
Raw Land vs. a Finished Lot
Construction Loans
Improved Land Loans
No Plans for Development?
Shopping Local
Owner Financing
Tapping Home Equity
Commercial and Specialized Lenders
Steps Before Applying for a Loan
Finding the Right Piece of Land
Knowing the Zoning and Regulations
Contacting the Seller
Making a Plan for the Property
Tips for the Land-Buying Process
Financing Can Be a Challenge
Being Ready for a High Down Payment
Budgeting for Additional Costs
Getting to Know the Area
Working on Your Credit
The Takeaway
About the Author
Kim Franke-Folstad is an award-winning journalist with 30 years of experience writing and editing for newspapers, magazines and websites. Her work for SoFi covers a range of topics related to personal finance, including budgeting, saving, borrowing, and investing.
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