Land Loan Calculator

Vacant Land Loan Calculator to calculate monthly mortgage payments with a land contract amortization schedule. The land mortgage calculator returns the payoff date, total payment, and total interest payment for your mortgage. This will be the only land contract calculator that you will ever need whether you want to calculate payments for residential or commercial lands.

Lot Loan Calculator
Mortgage Amount:	$100,000.00
Monthly Payment:	$1,148.24
Total # Of Payments:	120
Start Date:	Jun, 2023
Payoff Date:	May, 2033
Total Interest Paid:	$37,788.94
Total Payment:	$137,788.94

Payment Date	Payment #	Interest Paid	Principal Paid	Total Payment	Remaining Balance
Land Contract Amortization Schedule
Jun, 2023	1	$562.50	$585.74	$1,148.24	$99,414.26
Jul, 2023	2	$559.21	$589.04	$1,148.24	$98,825.22
Aug, 2023	3	$555.89	$592.35	$1,148.24	$98,232.87
Sep, 2023	4	$552.56	$595.68	$1,148.24	$97,637.19
Oct, 2023	5	$549.21	$599.03	$1,148.24	$97,038.16
Nov, 2023	6	$545.84	$602.40	$1,148.24	$96,435.76
Dec, 2023	7	$542.45	$605.79	$1,148.24	$95,829.97
Jan, 2024	8	$539.04	$609.20	$1,148.24	$95,220.77
Feb, 2024	9	$535.62	$612.62	$1,148.24	$94,608.15
Mar, 2024	10	$532.17	$616.07	$1,148.24	$93,992.08
Apr, 2024	11	$528.71	$619.54	$1,148.24	$93,372.54
May, 2024	12	$525.22	$623.02	$1,148.24	$92,749.52
Jun, 2024	13	$521.72	$626.53	$1,148.24	$92,123.00
Jul, 2024	14	$518.19	$630.05	$1,148.24	$91,492.95
Aug, 2024	15	$514.65	$633.59	$1,148.24	$90,859.35
Sep, 2024	16	$511.08	$637.16	$1,148.24	$90,222.20
Oct, 2024	17	$507.50	$640.74	$1,148.24	$89,581.45
Nov, 2024	18	$503.90	$644.35	$1,148.24	$88,937.11
Dec, 2024	19	$500.27	$647.97	$1,148.24	$88,289.14
Jan, 2025	20	$496.63	$651.61	$1,148.24	$87,637.52
Feb, 2025	21	$492.96	$655.28	$1,148.24	$86,982.24
Mar, 2025	22	$489.28	$658.97	$1,148.24	$86,323.28
Apr, 2025	23	$485.57	$662.67	$1,148.24	$85,660.61
May, 2025	24	$481.84	$666.40	$1,148.24	$84,994.21
Jun, 2025	25	$478.09	$670.15	$1,148.24	$84,324.06
Jul, 2025	26	$474.32	$673.92	$1,148.24	$83,650.14
Aug, 2025	27	$470.53	$677.71	$1,148.24	$82,972.43
Sep, 2025	28	$466.72	$681.52	$1,148.24	$82,290.91
Oct, 2025	29	$462.89	$685.35	$1,148.24	$81,605.55
Nov, 2025	30	$459.03	$689.21	$1,148.24	$80,916.34
Dec, 2025	31	$455.15	$693.09	$1,148.24	$80,223.26
Jan, 2026	32	$451.26	$696.99	$1,148.24	$79,526.27
Feb, 2026	33	$447.34	$700.91	$1,148.24	$78,825.37
Mar, 2026	34	$443.39	$704.85	$1,148.24	$78,120.52
Apr, 2026	35	$439.43	$708.81	$1,148.24	$77,411.70
May, 2026	36	$435.44	$712.80	$1,148.24	$76,698.90
Jun, 2026	37	$431.43	$716.81	$1,148.24	$75,982.09
Jul, 2026	38	$427.40	$720.84	$1,148.24	$75,261.25
Aug, 2026	39	$423.34	$724.90	$1,148.24	$74,536.35
Sep, 2026	40	$419.27	$728.97	$1,148.24	$73,807.38
Oct, 2026	41	$415.17	$733.07	$1,148.24	$73,074.31
Nov, 2026	42	$411.04	$737.20	$1,148.24	$72,337.11
Dec, 2026	43	$406.90	$741.34	$1,148.24	$71,595.76
Jan, 2027	44	$402.73	$745.51	$1,148.24	$70,850.25
Feb, 2027	45	$398.53	$749.71	$1,148.24	$70,100.54
Mar, 2027	46	$394.32	$753.93	$1,148.24	$69,346.61
Apr, 2027	47	$390.07	$758.17	$1,148.24	$68,588.45
May, 2027	48	$385.81	$762.43	$1,148.24	$67,826.02
Jun, 2027	49	$381.52	$766.72	$1,148.24	$67,059.30
Jul, 2027	50	$377.21	$771.03	$1,148.24	$66,288.26
Aug, 2027	51	$372.87	$775.37	$1,148.24	$65,512.89
Sep, 2027	52	$368.51	$779.73	$1,148.24	$64,733.16
Oct, 2027	53	$364.12	$784.12	$1,148.24	$63,949.05
Nov, 2027	54	$359.71	$788.53	$1,148.24	$63,160.52
Dec, 2027	55	$355.28	$792.96	$1,148.24	$62,367.55
Jan, 2028	56	$350.82	$797.42	$1,148.24	$61,570.13
Feb, 2028	57	$346.33	$801.91	$1,148.24	$60,768.22
Mar, 2028	58	$341.82	$806.42	$1,148.24	$59,961.80
Apr, 2028	59	$337.29	$810.96	$1,148.24	$59,150.85
May, 2028	60	$332.72	$815.52	$1,148.24	$58,335.33
Jun, 2028	61	$328.14	$820.10	$1,148.24	$57,515.22
Jul, 2028	62	$323.52	$824.72	$1,148.24	$56,690.51
Aug, 2028	63	$318.88	$829.36	$1,148.24	$55,861.15
Sep, 2028	64	$314.22	$834.02	$1,148.24	$55,027.13
Oct, 2028	65	$309.53	$838.71	$1,148.24	$54,188.41
Nov, 2028	66	$304.81	$843.43	$1,148.24	$53,344.98
Dec, 2028	67	$300.07	$848.18	$1,148.24	$52,496.81
Jan, 2029	68	$295.29	$852.95	$1,148.24	$51,643.86
Feb, 2029	69	$290.50	$857.74	$1,148.24	$50,786.11
Mar, 2029	70	$285.67	$862.57	$1,148.24	$49,923.55
Apr, 2029	71	$280.82	$867.42	$1,148.24	$49,056.12
May, 2029	72	$275.94	$872.30	$1,148.24	$48,183.82
Jun, 2029	73	$271.03	$877.21	$1,148.24	$47,306.62
Jul, 2029	74	$266.10	$882.14	$1,148.24	$46,424.48
Aug, 2029	75	$261.14	$887.10	$1,148.24	$45,537.37
Sep, 2029	76	$256.15	$892.09	$1,148.24	$44,645.28
Oct, 2029	77	$251.13	$897.11	$1,148.24	$43,748.17
Nov, 2029	78	$246.08	$902.16	$1,148.24	$42,846.01
Dec, 2029	79	$241.01	$907.23	$1,148.24	$41,938.78
Jan, 2030	80	$235.91	$912.34	$1,148.24	$41,026.44
Feb, 2030	81	$230.77	$917.47	$1,148.24	$40,108.97
Mar, 2030	82	$225.61	$922.63	$1,148.24	$39,186.35
Apr, 2030	83	$220.42	$927.82	$1,148.24	$38,258.53
May, 2030	84	$215.20	$933.04	$1,148.24	$37,325.49
Jun, 2030	85	$209.96	$938.29	$1,148.24	$36,387.21
Jul, 2030	86	$204.68	$943.56	$1,148.24	$35,443.64
Aug, 2030	87	$199.37	$948.87	$1,148.24	$34,494.77
Sep, 2030	88	$194.03	$954.21	$1,148.24	$33,540.56
Oct, 2030	89	$188.67	$959.58	$1,148.24	$32,580.99
Nov, 2030	90	$183.27	$964.97	$1,148.24	$31,616.02
Dec, 2030	91	$177.84	$970.40	$1,148.24	$30,645.61
Jan, 2031	92	$172.38	$975.86	$1,148.24	$29,669.75
Feb, 2031	93	$166.89	$981.35	$1,148.24	$28,688.41
Mar, 2031	94	$161.37	$986.87	$1,148.24	$27,701.54
Apr, 2031	95	$155.82	$992.42	$1,148.24	$26,709.12
May, 2031	96	$150.24	$998.00	$1,148.24	$25,711.11
Jun, 2031	97	$144.63	$1,003.62	$1,148.24	$24,707.50
Jul, 2031	98	$138.98	$1,009.26	$1,148.24	$23,698.24
Aug, 2031	99	$133.30	$1,014.94	$1,148.24	$22,683.30
Sep, 2031	100	$127.59	$1,020.65	$1,148.24	$21,662.65
Oct, 2031	101	$121.85	$1,026.39	$1,148.24	$20,636.26
Nov, 2031	102	$116.08	$1,032.16	$1,148.24	$19,604.10
Dec, 2031	103	$110.27	$1,037.97	$1,148.24	$18,566.13
Jan, 2032	104	$104.43	$1,043.81	$1,148.24	$17,522.33
Feb, 2032	105	$98.56	$1,049.68	$1,148.24	$16,472.65
Mar, 2032	106	$92.66	$1,055.58	$1,148.24	$15,417.06
Apr, 2032	107	$86.72	$1,061.52	$1,148.24	$14,355.54
May, 2032	108	$80.75	$1,067.49	$1,148.24	$13,288.05
Jun, 2032	109	$74.75	$1,073.50	$1,148.24	$12,214.56
Jul, 2032	110	$68.71	$1,079.53	$1,148.24	$11,135.02
Aug, 2032	111	$62.63	$1,085.61	$1,148.24	$10,049.42
Sep, 2032	112	$56.53	$1,091.71	$1,148.24	$8,957.70
Oct, 2032	113	$50.39	$1,097.85	$1,148.24	$7,859.85
Nov, 2032	114	$44.21	$1,104.03	$1,148.24	$6,755.82
Dec, 2032	115	$38.00	$1,110.24	$1,148.24	$5,645.58
Jan, 2033	116	$31.76	$1,116.48	$1,148.24	$4,529.10
Feb, 2033	117	$25.48	$1,122.76	$1,148.24	$3,406.33
Mar, 2033	118	$19.16	$1,129.08	$1,148.24	$2,277.25
Apr, 2033	119	$12.81	$1,135.43	$1,148.24	$1,141.82
May, 2033	120	$6.42	$1,141.82	$1,148.24	$0.00

Land Contract Calculator

The farmland financing calculator is calculated based on the land mortgage amount, terms, and interest rate. You can change the first payment date and the amortization schedule to monthly or yearly. A complete amortization schedule will be shown with monthly payment details such as the interest paid, principal paid, and remaining balance.

How Does the Land Loan Calculator Work?

Just like a traditional mortgage calculator, this farmland loan calculator uses fixed interest loans. This means all your monthly payments will be the same through the loan terms. In the beginning, you will be paying more on interest and less on principal. As the loan progresses, more money from the monthly payment will be towards the principal.

Land Loan Calculator Amortization Schedule

Mortgage Amount - the amount of loan that you apply for to finance the purchase of land.
Loan Terms - in how many years is the loan due or will you pay off your land loan?
Interest Rate - at what interest rate will you pay back the lender on your loan?
First Payment Date - when are you starting to make payments for your land loan?
Amortization schedule - you have the option to view your amortization schedule monthly or yearly, so you know exactly how much you are paying in interest, principal, and remaining balance on your loan. The land amortization schedule is printable and you can export it to a pdf file.

Land Payment Calculator with Extra Payments

Some landowners may want to pay off their loans faster, they can make extra payments to pay down the principal on a monthly basis, or make a one time lump sum payment. In that case, you can use our extra payment mortgage calculator which has options to include extra payments on your land loan. There really isn't much difference between a regular mortgage calculator and a land payment calculator. However, this land loan payment calculator does not include options for taxes and insurance, down payment, and extra payment. If you need to calculate your land loan with these options, please use the advanced mortgage calculator which has many more options. There are four types of extra payment options that you can choose from, such as one time, monthly, quarterly, or yearly options to pay down your land loan quicker before maturity. However, when you choose to make extra payments for your land, make sure there are no additional charges, and you are paying down your principal rather than interest.

What kind of loan do you need to buy land?

If you are planning to buy land to build a house or for commercial purposes, you will need to get a land or lot loan. Traditional mortgage lenders generally won't finance this type of purchase because they consider this type of finance to be riskier than a standard mortgage on a house.

Land Loan vs. Traditional Mortgage?

In a traditional mortgage, borrowers are less likely to default on their mortgages especially if they are using the house as a primary residence. In addition, a house has more value than land to the lenders because they can take away your property and resell it quickly in case borrowers fail to make payments. It is less likely for a homeowner to walk away from their mortgage than a landowner when they have issues with their financials. It is in the lender's best interest to finance the property and get the monthly payments from the borrower, rather than the hassle of dealing with foreclosures and getting their money back by reselling the property or the land. For this reason, it is harder to get a land loan than a house mortgage.

Land Mortgage Options

Since there are fewer options available for financing land, the terms are less favorable for lands than a traditional mortgage. You might have to pay a higher interest rate with bigger down payments, as well as shorter loan terms. Some lenders may require balloon payments, which is a type of loan where you have to make a big lump sum payment at the end of the loan. If you are looking to get a land loan, take your time and shop around and see which lenders offer the best terms. It never hurts to compare and see what options you have.

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