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How can I stay in my paid off home while I build another one, without paying a bank interest on a heloc for the down payment and a construction loan at the same time?

I am in the process of planning a new home build. I live in a paid off home. The bank says that I says that I need to put roughly 20% down to start the build process. They suggest that I take out a home equity loan to do it. At the same time pay interest on the construction loan while the home is built. When you run the numbers on $600k build...paying interest on both can get to be exorbitant. Is there another way?

submitted by /u/aculpnkc
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source https://www.reddit.com/r/RealEstate/comments/1ahq9p4/how_can_i_stay_in_my_paid_off_home_while_i_build/
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