If you're looking for land in Texas, always look outside of city limits where the zoning is a free-for-all, HA!

I'm curious to the group's thoughts on this... my local bank will give me a construction loan for this project, but here are the terms: "The bank can lend up to 75% of your total project (which includes the building cost). Your equity injection would be 25% down and if you purchased the land before hand with cash, we can use that as part of your 25% down. Typically, our construction/development loans are for 12-month terms with an interest rate of the Prime rate floating (Prime is at 7.25% as of today). The monthly payments are interest only on the amount drawn." Is this favorable over private lending @ 12-13% What do y'all think?