My current lender approved a $200K equity loan but the funds only be released for buying a land (their credit policy). I am planning to buy a land costing 350K soon. Since the full equity has to used for the purpose of buying a land, I am going to use $200K equity and 150K loan from another lender to settle the property.
I would like to know how easy to release equity from other lenders immediately after settlement? I want to use the equity to construct a house as an owner builder.
I would like to know how easy to release equity from other lenders immediately after settlement? I want to use the equity to construct a house as an owner builder.