What kind of options do I have for loans where I can buy land and build on it? Is there a low or no money down option?

you are asking for a construction loan ...there are no " low down " options available for this type of loan ..the best lenders for a constructions loan will likely be the smaller to mid size banks / credit unions located in the area you plan to purchase/ build ....thanks

It's called a construction loan, and you will never find a "low down payment" or "no down payment" option for this type of loan product.. Construction loans are one of the most riskiest loans for a lender.. they are lending you funds today on the speculation that the property, once completed 9 to 12 months from now, will be worth at least what was borrowed.. a lot can change in 12 months.. you could lose your job, get sick and unable to work, death of a co borrower, divorce, etc.. Since most all construction loans must be paid within 90 days of property completion.. if you don't have the cash funds, you have to get a mortgage to pay off the construction loan... and if your scenario changes, and you no longer qualify, then foreclosure is eminent.. typically, you will need 20% or more for construction loan financing.. if you already own a lot, and the land value represents at least 20% of the overall improved / finished value, then the land would be considered sufficient to meet down payment requirements.. (assuming the land is paid for, or the equity of the land represents 20% equity of the overall improved property value.) Again, a lot to consider here, but in general, you are going to need funds if you want to build a custom home.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Not much for options... Really just a 'construction loan'. Generally it will require 20% down of the cost of the land, and cost of the construction, and you'll need to be an excellent credit client. From there, you'll make interest only payments on the construction loan until you pay off the construction loan with the 'end' loan - ie: your long term 30-year fixed loan. Talk to your small local community bank for for a construction loan.