What is the difference between a land loan and a regular home loan?
A land loan is a home loan used for the purchase of vacant land that may later be intended for the construction of a residential home, but won't be built on for at least the next 12 months. It could be a way to secure a block of land on which to build your dream home, or a way to diversify your investment portfolio.
A number of lenders offer land loans, but each has their own set of terms and conditions around these loans that may make them differ from a traditional home loan. We can help you understand these special conditions where they apply, as well as help compare the options that are available to you from our panel of lenders. This service is part of your free appointment with an expert Aussie broker.