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Updated over 5 years ago,

User Stats

16
Posts
2
Votes
Katina Stewart
  • Saint Louis, MO
2
Votes |
16
Posts

Construction Loan and current Mortgage

Katina Stewart
  • Saint Louis, MO
Posted

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.  

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