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My understanding is that it's extremely difficult if not borderline impossible get a loan if you aren't a Puerto Rican resident.

Have you considered moving, renting, and once you're a bonafide resident, apply for a loan?

Try Cabo Rojo Coop and Isabela Coop they were very responsive to me " 3 weeks timeframe"  two years ago.

Hello Byron: You probably don't want to read this but...here goes. Most effective way is to pay cash for the lot, then after home is built refinance the entire project, get your original cash-out if you want and that's it. Do the math for all fees involved and choise your best strategy.

@Richard Andrea Rodriguez Hey Richard, thanks for the response! I plan on calling both of those organizations tomorrow. I actually just discovered Cabo Rojo over the weekend and heard good things. I’m hoping they can help out. I’ll give Isabelacoop tomorrow as well.

Thanks all for your replies. I was curious if anyone has used a personal loan to buy the land and then refinanced both the personal loan and construction loan with a consolidated mortgage loan once the construction was completed.

I question why you selected Dorado as a place to buy. If your base is near there, then that's fine. 

If it is in San Juan, you might re-think.  Dorado has become the place of choice for the tax refugees settling in PR.  That's great, except the town has become insanely overpriced, and the traffic in Dorado and from Dorado to San Juan has become impossible.  I was there two weeks ago, and it took me half an hour to go from one end of Dorado to another.  It is easily an hour and a half or more standing in traffic to get to the airport.  While some very nice homes have been built there, the area really doesn't have that much to recommend it. No views, crowded, and houses crammed next to each other.   I would look further east where you can find much better housing for 1/3 the price.