Buying land and building a home involves a few more moving parts than purchasing an established property. The good news is that they can be planned together.
Two connected purchases
Most packages combine a land contract with a separate building contract. Your lender assesses the full project, including the land, construction contract, deposit and expected costs.
Construction progress payments
Rather than releasing the entire build amount on day one, construction lending is commonly released in stages as work is completed.
Every situation is different. Revive can help you understand the process and discuss the lending options available for your circumstances.