Financing home construction

[Brad Herb]

Hi all, I own a lot outright ($190k) at the Delaware beaches. I am planning to build on on the lot and use it to generate short term rental income until I retire in 8-10 years. I checked into an FHA OTC loan but it had mortgage interest rate over 8% and lifetime PMI payment which I would like to avoid. I am considering constructing a modular home which should reduce the construction period to 4-6 months versus traditional home construction. I am looking for advice how to finance the home construction costs before obtaining a lower interest mortgage after construction is completed. Should I consider private lending, HELOC or another short term lending to fund the home construction? I have excellent credit, $100k in savings, the lot value to use as collateral and about $500k equity in my primary residence. I appreciate feedback. thanks!