A few of the banks I deal with have fantastic rates (under 4%) on 5 year loans with fixed rates, provided you qualify. If you haven't spoken to a couple of banks, then I would recommend you do so. (I would be happy to share some lenders that I work with.) If you do not qualify then look into seller financing. If it is a developer selling, definitely check with them. They may be willing to work out a deal to move a property. Especially these days with lots not moving as quickly as in the past. You may pay a slightly higher interest rate for owner financed but as soon as you sell your home you could pay off the seller financed loan and wrap it all up into a construction loan. That way you can get this lot tied up that you like. If you need a good builder, I would be glad to assist. We would also be willing to walk the lot to make sure your home would fit on it and advise you on the improvement costs. We do custom homes and semi custom homes off our plans. Good luck to you!