Aquiring a raw land deal??

[Kalyanii K.]

Hello all!  

   I am looking at some raw land in my area that I would be interested in buying to build a home on.  The land is a good deal from what I've seen-6.2 acres of land that is very well priced for my area with a motivated seller.  It is unfortunately considered in a flood plain (small creek running thru back part of property), but a lot of the land around this area is in a flood plain.  There is timber on it as well.   I would have to place a well and septic on the land.  I've been trying to research raw land loans and from the (granted few) banks I've spoken to, they will not loan on raw land-they recommend getting a personal loan out at a ridiculous rate 10-15% interest (they didn't run my credit, it was just an estimate for a personal loan, but I have very good credit-around 760 I believe), to cover the land and then refinance to a construction loan once there is a well and septic as I understand...So was wondering what other options I had as far as financing and what others have used?  I would love @@Jay Higgins thoughts on this as well since he has had experience with this in the PNW.  Thank you guys for your thoughts on this one!!!