Owner financing, Land contract vs Purchase money note

[Kevin C.]

Hi everyone.

I have been working on a potential owner financing deal and have reached an impasse with the seller. I want to use a purchase money note(mortgage) and be able to subordinate him to second position so I can get a construction loan with the property as collateral. He is not willing to do that. He also would rather use a land contract as well.

My questions are:

A) Can I  still get a construction loan with hard money using a land contract? If not has anyone ever had someone with private money be willing to do that?

B) If I can get him to agree to a purchase money note, how likely can I get a loan for construction  with the lender in second position?

Any help or ideas on how to make this work, would be great.

Thanks,

Kevin