Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
You must be logged in and allowed to do that
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

47
Posts
22
Votes
James Likis
  • Investor
  • Boston, MA
22
Votes |
47
Posts

Searching for a construction loan in second position

James Likis
  • Investor
  • Boston, MA
Posted

Hi everyone,

My wife and I are looking to add an ADU to our primary residence. We have a wonderful 3.25% interest rate, so we do not want to trade that in using a typical construction loan. So far we've found one bank that'll do a construction loan in second position (https://www.websterbank.com/personal-banking/borrow/mortgage...) and are wondering if anyone knows of any other banks that will do this. 

I do know a HELOC or home equity loan is an option, but those won't allow us to access to post construction ARV which we need in this case.

Thanks in advance for the help or any insights!

  • James Likis
  • Loading replies...