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If your debt to income ratio can handle both debts at once then no problem. If not some loan products will allow you to count the rental income from your old place to improve the debt to income ratio. Would be happy to help you look into your situation and see what we could come up with.Regards,Brynn
You can come at this a couple ways with builders. For you to pull your own construction loan you will need show you can carry the loan. If you want to live in your current place then that means carrying both loans. This can be difficult for soom. Another option would be to sell your current home, rent while you are building. This would free you up to only have one loan. Another option would be to get a builder to carry the loan for you until the end of construction. But that means you MUST seel (given you can't carry both loans) and that puts you in a bind come end of completion. In all honesty, I've helped about 70 people do this over the past year or so, and it's often times better to sell first and rent if you can't carry both loans.Jay Feaster
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