home construction loan

[Jerry Shipman]

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.