construction loan for SFH new build

[Rena Hu]

Hi all, I have approved plans for a SFH new build that I'm seeking funding. My property already has an existing house on the same lot and since the parcel faces 2 streets, we can build another SFH. Subdividing is not an option. My current mortgage is 3.7% so not looking to refi the whole property during the build. The construction is likely going to cost around 700k (have the estimate from my contractor) and am seeking funding for $500K -550K.

Thanks