Question about mortgaging multiple new buildings one one lot I ow

[David F.]

I understand I can use the value of land as a down payment for a conforming mortgage. I am looking into building on a vacant land I own outright that is appraised at and bought for $400,000. It is one parcel zoned for 6 units multifamily. I would like to build 3 duplexes, one at a time, each costing $400,000. I would like to obtain financing for all three through the same bank, which requires 20% down for properties such as this. I don’t wish to subdivide. As you can see, the aggregate land value should well cover my aggregate down payment amounts, but I want to ensure that I can continue to build as I want without putting cash down for down payments in continuing fashion. Question: Can I continue to use the value of the land as down payment for the construction on buildings 2 and 3 even after the bank uses the land as collateral for property one? Or, will the fact that the land is already used as collateral for building #1 prevent me from using it again as down payment/collateral for building #2 requiring me to come up with down payment cash, notwithstanding the fact that it would be the same lender? Thanks in advance.