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Updated over 1 year ago on . Most recent reply

Brent Baker's profile image
Brent Baker's profile image
Brent Baker
  • New to Real Estate
  • from Middle Tennessee area
  • Member since Sep 23, 2019
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Brent Baker's profile image
Brent Baker's profile image
Brent Baker
  • New to Real Estate
  • from Middle Tennessee area
  • Member since Sep 23, 2019
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Brent Baker
  • New to Real Estate
  • Middle Tennessee area
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Land & New Construction

2nd Mortgage Construction

Brent Baker
  • New to Real Estate
  • Middle Tennessee area
Posted

Is there any way to get a 2nd Mortgage Construction loan in order to build another house on my lot in Middle Tennessee?

Currently have a great rate on my first mortgage for $155k with a house worth around $270k. I want to use a 2nd mortgage construction loan to build another 1000 square foot home on my lot to rent out.

Is this too difficult to get financed with a normal bank?

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