If you buy land, rather than an existing house, because you want to build from scratch, you’ll probably need a land loan. And that raises more problems than getting a normal mortgage.
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How to Get a Loan for Land | Angie's List – Building a new house is exciting, and half the fun is selecting the perfect plot of land on which to build. Obtaining a land loan and determining your land loan eligibility differs a bit than a typical loan or mortgage, so it’s important to know what to expect when getting a loan for land.
If you’re going to buy land without plans to build a home or business structure on the land, getting a loan will be more difficult. However, there are several options to get funding. Local banks and credit unions: Start by inquiring with financial institutions located near the land you plan to buy.