You can use the proceeds from a home equity loan for whatever you want, including buying land. However, if you can't make the payments on your home equity loan, you could lose your home.

You may be able to use a home equity loan to secure a loan to buy — and potentially improve — a plot of land. A home equity loan might offer better terms and interest rates than other ...

Home equity loans also use your home as collateral ... so it's likely not worth it if you can't land a better rate than the one you have now. If you aren't comfortable using your home as ...