Indymac and National city mortgage were doing lots of these. Indymac was taken over by the government. The community banks were willing to do this for me in 2003-20O4 with 15% into the project. I didn’t go that route so don’t know much about the programs. You could call one like 1rst Centennial and see if they still do them.They might send you in the right direction anyway. Another way is to have enough money to build and get the owner to carry the land interest only for five years or so, maybe amortized over a longer period but due in five to seven years. A bit of a long shot is to have the owner carry and subordinate to a construction loan.
I am a general contractor besides a realtor.I don’t need much income. Under the right circumstances I would build a house and infrastructure in exchange for a note or percentage ownership in the property.One of the conditions would be that the owner own the property free and clear at the onset, or owe very little on it. Maybe you could find somebody who would do this. Set up a reasonable deal with an option to buy the partial owner out.