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First-time homebuyers can build a home and have several options available to finance the build. They can get a land and build package to both purchase the land they want to build on and then to build their home. The down payment can be as low as 5% of the total amount needed to complete the project. If the borrower already owns the land, then we can finance just the amount needed to build their home and then use the final appraised value for their loan to value calculation. In this scenario, there might not be a down payment required if the appraised value comes in high enough.