Lending requirements for building on a property you own

[Jocelyn Evans]

We are currently looking at a 5 acre property with 2 houses on it. One is currently rented out and will be for another 2 years. Our plan is to build an additional 7-9 homes on the property which we know is allowed. We will have to split the land up before doing this. We plan to move into the first house we build.

How does financing work for building a home on land you already have a Note on?

Thanks!!