Refi primary residence

[Anthony Caramanica]

My wife and I currently own our home valued at a little over one million. We found another home we really like as our primary residence. We don’t want to sell our current home , we prefer to rent it. The new home is under construction and does not qualify for a conventional mortgage , we would not have enough cash with a cash out refi as the new property is over 1.2 million. What are our options if any ? Thanks.