How can I finance a tear-down and rebuild of my home?
Question by Me Me: How can I finance a tear-down and rebuild of my home?
and how is it different from a mortgage in terms of rates, qualification, repayment?
The assessed value of my house and land is over 3x the amount remaining on my mortgage.
Answer by Mke guy
you could do a cashout refinance of the home and use the money to build a new one. Once you have the money the lender has no idea what you intend to do with it.
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