Hello! I don't post on here very often, I'm mostly a lurker during my lunch hour.
I was wondering if anyone has any experience with a new construction loan when you have a mortgage on the property currently, and would tear down the existing house and build from scratch. Does anyone know of any mortgage lenders who will roll the existing mortgage into the new mortgage?
We have a piece of land in the country with a little house on it that we've been renting out and we bought a bigger house in town a few years ago until we decided what to do with the place in the country. We've decided we'd like to sell the place in town and try to build on the land in the country if it's going to be possible to do that. We just need to find a place that will help us figure it all out.
Does anyone have any experience with something like this or know of a really good mortgage person in the DSM area (prefer West side or Johnston)?