Info on Construction Loans to Purchase Property

[Nick Lockard]

I've found a couple of deals that look well priced, but obviously the house will need a little work. I haven't looked much into construction loans, but have heard (if your ARV is right) that the loan can cover pretty much all of the costs needed to fund the loan. I don't have a ton of funds on hand to cover significant down payments, so I was just wondering if there's any truth to this or if I need to look in a different direction.

Also, any general info on this type of loan and thoughts on it's viability is appreciated as well.