An A&D loan will get you a higher LTV on the land purchase. If you get an acquisition loan first, when you get the construction loan, the lender doing the construction would want to be in first position, they will be paying off the first loan too. You?ll be paying twice in fees for it.
You can get an acquisition and development loan at one time. It is better to get an A & D loan then two separate loans. Feel free to email me if you any additional questions.