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Old 10-10-2019, 02:55 PM
 
7 posts, read 9,645 times
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I already started construction on my home (exterior walls have come down) and have learned I generally can't get a conventional HELOC now since there is work already being done to my home. Does anyone know of any other options here? Thanks.
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Old 10-10-2019, 06:02 PM
 
24 posts, read 16,163 times
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Quote:
Originally Posted by sadred5 View Post
I already started construction on my home (exterior walls have come down) and have learned I generally can't get a conventional HELOC now since there is work already being done to my home. Does anyone know of any other options here? Thanks.
did you get a permit for the work?
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Old 10-10-2019, 07:04 PM
 
Location: under the beautiful Carolina blue
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A construction loan.
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Old 10-11-2019, 06:46 AM
 
376 posts, read 310,837 times
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Originally Posted by twingles View Post
A construction loan.
FHA loans are never recommended unless your going to refinance immediately after.
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Old 01-10-2020, 09:30 AM
 
19 posts, read 8,507 times
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I ran into someone with similar issue. They maxed out credit cards / other zero percent loans and once the out structure is completed and in place you can apply for HELOC. Home is normally never inspected and the appraisal is made from outside and just looking at the property.
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