ursaitaliano70 asked:


What happens if we don’t have the money from our existing home to pay into the construction loan? Will we have to keep the loan at that amount. Will we be able to put the money from our existing home into
the loan once we get it? Will we have to refinance the whole thing to do this and go through another closing? We would appreciate any answers that are based on facts only. Thanks.

Kristin

AC asked:


My husband and I are looking for our first home and have fallen in love with a house that is down to the studs in some areas in the middle of a remodel. The home has no structural issues - it is all cosmetic - but does need all new applicances (has none), new walls (70s style paneling in living room), new flooring (has concrete now) etc. Would we need to get a construction loan even though it is structurally okay? How would the mortgage process work for this?

Roger

Timothy M asked:


My wife and I recently moved into a new home which we are still paying interest only on the loan. We also just sold our other home and would like to put the money we made off of it down on the loan. Can we put the money down when we convert or do we have to refinance?

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