Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
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

25
Posts
10
Votes
Jeff Puciato
  • Real Estate Agent
  • New Haven, CT
10
Votes |
25
Posts

Financing new construction

Jeff Puciato
  • Real Estate Agent
  • New Haven, CT
Posted

I want to build an extra 2 units (each 1bed, 1bath)on my property that consists of a large level lot and a 2 family house. I want it to be a detached dwelling. Issues I have are, not enough capital to pay cash and already having a mortgage on existing property. Options for financing hard money, construction loan, HELOC in near future. My question is, can I do a construction loan with an existing mortgage on the property? Would I need to refinance my current mortgage once build is complete? thank you in advance

Loading replies...