How to use equity as a down payment?

[Sean Todd]

On podcast episode #440 the guest mentioned he was able to use the spread in sales price ($130,000) and appraisal ($150,000) as his down payment. He said he found a credit union that would allow him to do this. Has anyone else done this? Does anyone know a lender who would consider doing this? I currently have a new build in progress that has gone up significantly and would like to use this strategy. I signed on the house in August at $371,000 and the current sales price for the same model is $422,000. The house is about 2 months from completion and I would like to find a financing option that takes advantage of the equity and leaves more money for me to deploy to another deal. Any ideas on where to start?