Seller Financing and New Home Construction

[Shane Burlingame]

Hello, my family has a 5 acre lot that they are attempting to sell. I don't have the money on hand to buy the land outright, but I am considering offering the idea of seller financing. This is a huge benefit to us both because they build houses for a living, and I would offer them the work first. They also get paid for the land in the end. 

I am wondering if the land that is financed can be used as equity towards securing a new construction loan?