Thread: Mortgage Broker
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Old 04-21-2013, 08:20 PM   #4
calgarywinning
First Line Centre
 
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Join Date: Feb 2013
Location: Field near Field, AB
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Any advice on a plan to purchase a lot with an existing home to be demolished and then a new home to be built. How does one attain bridge financing and deal with the bank who can't understand the concept of tearing down the home for a rebuild?

Also we would be living in our existing Condo which currently is setup as chattel on a L/C for 65% of the value. This is entirely paid up. We would like to draw against this line of credit while paying for the new build.
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