Not ALL Lenders Are Equal
When you are thinking about financing a Build On Your Lot it's good to look around and compare lenders, fees and the types of financing you may be eligible for.
When we began looking we wanted to start with a GREAT MORTGAGE Broker. I searched and found a few that were awesome. So I will help you out a little to get you started.
Jennifer Guidry
The Bank of San Antonio
210-572-9171
Kristin Graham
AnnieMac Home Mortgage Corp
210-455-1895
Mike Lindeman
Thrive Mortgage
210-861-4925
Jacob Alaniz
Security Services Federal Credit Union
210-877-3949
Ultimately the decision is YOURS and there are many to choose from. But what I was looking for was was someone that offered VA options (my husband serviced 20+ years and we wanted to see how the rates would look for us), and also CONVENTIONAL rates (we had the downpayment so again we wanted to see what was going to be the BEST FOR OUR FAMILY).
Building is NOT a ZERO down sort of purchase. We had a deposit that was required by the builder. (This was not going to matter if we did VA or Conventional Lending.) We also had to pay the water company and electric company to get the utilities started. This will be something that they probably already added to your build, but likely they will require you to pay it up front.
When we looked around we found that most VA loans would require a 2 time closing. Meaning, you would get a construction loan and at the end of the home being built they would roll the loan into a permanent loan. For us, this was a scare. Rates today were really low. What would rates look like next year? Some offered us a VA one time closing, but rates did not look as good. Conventional loans might have been a little higher, but the one time closing was VERY appealing.
Ultimately, we decided on the Conventional Loan. We bought down our interest rate. We were also pleasantly pleased when our appraisal came in and reduced our necessary amount down! -- In case you are wondering what that means, we already owned our lot. Our lot will be rolled into the home, so the value we have in it was able to assist with our downpayment. REMEMBER: Rates are so low that borrowing is an advantage you have. Many of us will decide to hold onto our money.
If you have questions on how much you should put down, SPEAK TO A LENDER. They are knowledgeable and can talk with you personally about your financial situation and what is best for you. Please understand I am only speaking on my personal experience and sharing this with you. 
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