Bankers on board.  

I suspect the builder has crappy credit and can't get approved on their own.Also, as a former banker myself, local banks aren't generally interested in financing new construction on this size of project or a builder that doesn't have extensive experience in these type of builds, in my opinion. 

I don't think that is enough, but, the first thing is to go to your Banker and try to get qualified for a Loan.

Might make sense to have a in depth conversation with a Banker to run the numbers on a Fannie Mae 5% down versus an FHA 3.5% with the higher MIP.

It just means as a Banker I see the banks money as the way to get rich and save your hard earned money for retirement.If you use your money and fail you are broke, if you use the banks money and fail you sell or find a way to transfer the debt.

Financing- build a relationship with a regional banker, don’t shop for interest rates, start small and build history and loyalty they are your team, Cross collateralize, deposit CD/MM or custodial account with bank for loan, give them monthly updates, nail your deal analysis, do stress tests on your deal analysis-cost/interest rate/deal length/ sale price etc. 12.

@Karina Busch  Any competent mortgage broker or mortgage banker can do this for you.

I recommend you contact a residential banker and a commercial real estate agent and start looking at deals right now, even before you are ready to buy.

But you are the BANKER. 

As long as my commercial Bankers know me well thats all I care about..