Construction Loans Question

[Daniel Klucas]

Newbie here, so please forgive me if I'm asking something everyone else knows the answer to. I'm in Atlanta (Hapeville) and have a home I purchased about a year and a half ago that including a large lot that is the size of about five standard lots for my neighborhood. So basically I have three lots that I was thinking about selling off for profit. After talking to a realtor who is working with a developer in the area she inquired as to why I wasn’t developing them. New builds in the area are going for 275-325K. Then suggested that I could use them as collateral and apply for the construction loan myself……

This would be new territory for me and am not sure of the process. My available cash is low  right now with a new baby is the house but the three lots should be valued at around 35-45k each. I know construction loan usually require interest only payment upon draw but is there any kind of construction loans that defer payment until completion?