Updated over 6 years ago on . Most recent reply
Construction Loan and current Mortgage
I'm looking to get a construction loan that I will later turn into a permanent mortgage loan. However, I'd like to stay in my current home, which I have a mortgage, until the construction is complete. Nearing completion I want to place my current home on the market. What's the best option to do this in order to stay in my home until construction is near completion? Can I even get approval for a construction loan while I have a current mortgage? I really don't want to sell my current home and stay in a rental until completion.