Typical margins in new construction and lending options
So I'm coming from the rental space and just getting into new construction in a unique area with what I feel are some very strong margins. I'm curious what type of margins typically exist in new construction.
I'm also interested to get a sense of what kind of loans I can get based on better margins and/or having the build presold to a buyer.
Lets say I could produce a builder contract to build for 350k and I owned the lot free and clear (paid 40k). But I would also have that build under contract to sell to a buyer at say 750k with a 50k EMD (non-refundable). Are there lenders that even care what I can get the build under contract for before applying for the loan? Could I get loans at true 15% down including what I paid for the lot? I've seen local banks at 20 to 25%. And I've seen some alternative lenders that say 15% down but they end up being 20% when its all said and done.
Is that 20% just going to be the number and they don't care about ltv at all? Or the fact that they're presold with a solid EMD?