Can you get a mortgage on a property without a house with intent to build?

[jcrsmom]

Hi All,

  I came across a property that I love(well, on a website at this point)  It has 2 outbuildings, 10 acres and had a perc test done in 2007.  We would eventually build a house on it but in the meantime talked about just getting a mobile home to put on it until the house is built.  My question is..can we get a mortgage for the property as is? And then another loan for the house to be built?  Any input on this would be great.  Thanks so much!

[tooleman694]

When we looked into this, we could get a loan for the land but they are not easy to get. We would of had to pay cash for the land and then when we built the house you have to use the land as collateral incase you cannot close. When you get the mortgage the equity you have in the land is your down payment.

[jcrsmom]

Bummer