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Updated over 12 years ago,

Frank Apap's profile image
Frank Apap's profile image
Frank Apap
  • from Massapequa Park, NY
  • Member since Oct 26, 2008
Connect

User Stats

15
Posts
1
Votes
Frank Apap's profile image
Frank Apap's profile image
Frank Apap
  • from Massapequa Park, NY
  • Member since Oct 26, 2008
Connect
Frank Apap
  • Massapequa Park, NY
1
Votes |
15
Posts
Rehabbing & House Flipping

Basic Financing Question

Frank Apap
  • Massapequa Park, NY
Posted

Here is my situation. I live in a home now that is worth about 550K. I have 210K left on the mortgage and about 100K of liquid money. I'm interested in having a new home built (and selling my home). The property I'm looking at is about 250K and I will be spending approx 325k to rebuild a new home (this is not for an investment but my actual primary residence). My question is what are my options to fund the 325k in construction? Is there a way to get a loan based on future value of the home (after the construction)? Should I try a HELOC?

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