"I want to build a house. Is there financing available for this?"

Many lenders offer "one time close" construction loans. This type of loan offers financing for land acquisition and the actual home construction. When construction is completed, the one-time-close construction loan turns into a permanent mortgage. "One Time Close" loans offer homeowners the convenience of not having to re-qualify for a mortgage after the construction phase, and save homeowners the closing costs of refinancing.

Generally speaking, you will almost always be able to borrow a percentage of the future value of the house, regardless of how long you've owned the lot or the total costs of the build. Since new construction almost always appraises for more than total costs, this often works in your favor.