Free Vacant Land Loan Calculator

This free vacant land loan calculator tells you:

  • the number of monthly payments
  • what your monthly payments would be
  • total interest (based on the purchase price)
  • and the total cost of your land purchase!

How to Use the Vacant Land Loan Calculator

  1. Input the loan term, property cost, down payment, interest rate.
  2. Let the calculator do the work! Your land payments will be computed and shown at the bottom of the calculator.

Land Payment Calculator

We hope you found this land calculator loan helpful! We made this calculator ourselves, so if you have any questions about how this works let us know.

The land loan calculator might make it feel difficult for you to buy land, but don’t worry! You don’t need to get a land loan through a bank or an expensive private lender.

Unlike banks and lenders, at Compass Land USA you can expect:

  • No expensive prepayment penalties, so you can take ownership of your land early
  • No realtor or commission means you put more money back into your own pocket
  • No credit check or proof of income required, you’re automatically approved

Learn more about our land owner financing program here.

If you have any questions about how our owner finance process works, contact us today – we would love to hear from you!

Call Us to Learn More About Our Land Owner Financing

(313) 349-0434

Compound Interest for Land Loans

Loans can be a tricky business, and hard to understand. One confusing part of the loan that can be difficult to understand is the interest. There are 2 types of interest that can be used for your land loan: simple and compound.

Simple interest works by charging interest only on the principal amount of your loan, and it is a fixed rate for the entire lifetime of your loan. Simple interest isn’t standard and isn’t used by most banks or lenders.

Compound interest works by charging interest not only on the principal amount of your loan but also on any accrued interest. The land loan calculator uses compound interest because that is standard practice for banks and lenders in the United States.

Why Owner Finance Land?

Why does owner financing for land even exist? Can’t I just go get a bank loan like I would for my house? Or a hard money lender like I would for my car? It can be really difficult for you to get a loan for a land purchase for 2 reasons. 

  1. The land itself is the only on-site collateral to the loan
  2. In the eyes of the banks, land is not easily converted to a built home

This means that banks and other traditional lending institutions don’t like that the land itself is the only collateral, they prefer to have a structure like a house or some other tangible asset on the land. 

And often, the purpose of a land purchase is to enjoy it recreationally – not to make it your immediate primary residence. And that’s the key here because unless you’re building on it and making it your primary residence right away, it’s very unlikely that you would get a traditional land loan if you wanted to buy land to hunt, as an investment, camp, or use recreationally. 

Because of those 2 points, investors like myself will owner finance properties for you. This means that we will carry the loan for you, so you don’t need to involve a bank or other lenders. That’s why this process is sometimes also referred to as “owner will carry” or “seller will hold”, because we hold the financing and manage it for you. 

So, instead of making payments to the bank, you would make payments to the property owner. Sometimes for larger value properties like 20,30, 50k, and up, the loan will be managed through a title company instead.

If you’re interested in how to buy owner financed land, make sure you get a copy of the free guide because I detail it out in there for you. 


Want Your Own Step-By-Step Guide of How to Buy Owner Financed Land?

You can get yourself it for free – just fill out the form below!

Download Your FREE "How to Buy Land with Owner Financing" Step-by-Step Guide Below

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