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system
refinance a land loan into a mortgage loan
user
the answer is yes according to multiple online sources and my local bank. this approach is a common technique to building your own home. you finance the land, build the simplest possible dwelling (say a garage with 1 bathroom/bedroom), refi into a mortgage and get cash back and then build your "real house" or add on, etc. this eliminates the banks demands that come with a "construction loan" and saves you 10s of thousands in the process (fees, contractors, scheduling, design, etc)
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