Can I get a Construction Loan on an Underwater HouseI'm underwater on my house but have no problems paying the mortgage. We have some credit card debt but still very manageable. I refinanced once under HARP 1.0 and therefore I'm not eligible for HARP 2.0. My house is a ranch style with a basement. I'm thinking a second floor on the house would help that Loan to Value ratio even with a loan to finance it. Just not sure how easy it is to get that construction loan in my situtation. I've never been late on my mortgage since purchasing the home, even before the refi.November 15 2013 - Colonia00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.