What is a land loan?

A land loan, sometimes called a lot loan, enables you to purchase a plot of land where you can build a home. Generally, a loan can be taken out for three types of land:

• Raw land, which normally has no utility access and no improvements, and might not be reachable by road.
• Unimproved land, which typically has utility access but might be without some improvements.
• Improved land, which normally offers complete access to utilities and can be reached by road.

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How do I get a land loan in Texas?

Getting a land loan is similar to getting a home mortgage. Both involve real estate, and both usually involve the same steps: application, credit check, survey, appraisal, and closing. Schedule an appointment with a land loan expert to talk through the process.

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