[Back2Basix]

10% is outrageous interest and 6% isn't that much better when you can still get under 4% on a fixed mortgage.

As for the OP, I would just decide some areas I might be interested in, and put ads on craigslist explaining you are looking for a small fixer upper with X acres with owner financing at reasonable rates. You would still be better off if money is an issue buying a small house in serious need of remodel than to stick build even a small house from the ground up.

I agree it's high but not outrageous by any means. 4% is available IF you've got the credit, history, down payment, and collateral.

If i was the lender and someone was looking to buy vacant land with $0 down, no/poor credit, etc. i don't think 10% offsets the risks i would be taking. Its still vacant land and if they can't afford a down payment, what are the odds they can afford a dwelling, well, septic, utilities, etc.