Updated almost 7 years ago on . Most recent reply
home construction loan
We started a house with a lender and did not get the amount of our own money for the construction loan. We paid cash for our lot, which was $101,000.00 and have put down an additional $50,000.00 and will pay an additional $50,000.00 in the next 30 days. We have a loan in place that will kick in after we pay a total of $200,000.00. The home build price is $514,900.00, leaving a need of $414,900.00. We will pay off the loan at the end of the build. Is it possible to cancel our exiting loan and borrow more money.