Leverage on land is usually tighter than a 1–4 unit rental. The Land & Lot Payment Estimator warns when your LTV sits above an educational ceiling for the type you picked. That warning is orientation. It is not a decline and not a program.
Illustration ranges
- Raw land. Educational ceiling 60% (typical illustration 50–60%). Unimproved acreage. No utilities or finished streets assumed.
- Improved lot. Educational ceiling 70% (typical illustration 65–75%). Utilities, access, and a lot that is closer to build-ready.
- Agricultural. Educational ceiling 65% (typical illustration 50–70%). Farm, ranch, or ag-use land. Income story is separate from LTV.
What the calculator does with a ceiling
You enter price and down. The worksheet computes LTV and monthly P&I. If LTV is above the type ceiling, it names the extra down that would illustrate at that ceiling. Cash to close on the worksheet is your down — not title, escrow, tax prorations, or closing costs.
What it does not do
- It does not quote GI Realty or a capital source.
- It does not include property tax or insurance in the payment.
- It does not invent an NMLS number, a rate sheet, or a credit decision.
Why type matters
Raw acreage, an improved lot, and ag land are not the same collateral story. Utilities, access, and a real next event move leverage more than a slogan. If you are not sure which type you have, pick the more conservative chip and say that on the call.