Hi Ana, totally depends on what product you're looking for.

Try talking with Hurst lending they have some good products There is also a member here that created a list of lenders by state - a good resource for you maybeJust google "my perfect mortgage" top link - you'll see it edit: nvm that's not it - give me a second - here it is: Perfect Mortgage

There are also instances that loan interests are paid at the end of the project (withdrawn during sale/refinance) which is referred to as accrued/deferred interest.Best of luck!

If build cost is $800k/unit and sales comps go for $650k then it's a non-starter.

Purchase price: $295,000 Cash invested: $11,000 Sale price: $409,900 My wife and I didn't have many options purchasing our second home.

As others said, some of this could be tied to the glut of product coming online in many markets.  

For sale by owner, so we used a lawyer friend to make sure we were covered in our purchase agreement, etc. since the seller was the type that basically wanted to sell the house on little more than a handshake.

Existing inventory sales dropped by 10,000 housing units in our market but new construction increased by several hundred more units this year and is now the highest percentage of our market we have seen in the last 15 years.

I don't have the cash to build a spec home on it, but I could purchase the property and advertise it with a spec home for sale.

Ashton, Here is what I will do,I will purchase the property at $700k to $710k (or shift the closing cost to seller) with new Fannie Mae product with 5% down or ~$36k (pull from HELOC) - owner occupancy for a year.