Looking to purchase land for your dream home? This article outlines essential steps to secure the right loan for your land purchase. From understanding the types of loans available to assessing your financial situation and navigating the approval process, we've got you covered. Plus, we offer tips to avoid common pitfalls and highlight how you can finance the market value of the lot with a low down payment. Some lenders, for example, calculate fixed-rate payments using up to 20-year amortization on their home lot loans, with a five-year balloon payment, and amortize adjustable-rate payments over 15 years.