Has Anyone Ever Heard Of Instant Home Equity?
I stumbled over a website and am talking to a represenative from a company called Instant Home Equity. They provide 100% financing to buy the land and the materials to build a home. You serve as the general contractor and hire the labor to build it. By doing some the work yourself you earn at least 20% of the equity in the home on completion. Has anyone ever heard of or done business with this company? 
Sounds interesting. Some banks are now offering one stop shopping for this kind of deal. In the past, it required two loans and a lot of work to do this.
What kind of security are they asking for? Just a standard lien on the property? If you are not general contractor, you may want to find some friends who are and ask them what they think.
Robert
In general from what I have seen from like companies is their fees are on the high side and most of them haven't a clue about construction; yet they say they can assist people in the building process. If you choose to go this way, not recommended if you have no construction experience, save yourself some money and go to a local lumber yard that can provide the same financing
I was looking a couple of months back for funding for a Spec house, and I think I remember seeing that site. I think it's for owner occupied only. Are you building this for yourself? I also think I remember that they'd assign "Advisors" to help you. Makes me think that they'd actually RUN the project, and you'd maybe get a chance to make suggestions, but that'd be 'bout it. Not the way I'd wanna run a railroad, personally...
I think this would be great if the bank then took the property off your hands once you are done building. If not then you are simply building a spec house and you need to know that type of market before you jump in. In my opinion it is much harder to learn the market of new homes in existing subdivisions than fixer-uppers in any neighborhood.
GOOD LUCK