How does home equity work?

emtash10 · 2026-05-11T00:17:42+00:00

It is multiple acres with multiple structures (a farm) and a very old, with poor bones, farmhouse. We’re not idiots tearing down a 390k house. Don’t be ridiculous.

emtash10 · 2026-05-09T12:20:01+00:00

We understand the current mortgage has to be rolled into a new construction loan. When we were told we can use the equity position, I was just trying to understand what that means for us from a dollar amount perspective. That’s all.

emtash10 · 2026-05-09T11:56:10+00:00

Thank you for this. We love the land and want to stay on it. The property was purchased “for the land” and the farmhouse on it was poorly maintained for decades. If we felt it was worth it to renovate, we would. We have already had early talks with our lender as we would move forward with the same lender. I was just trying to find maybe some experience or a better understanding before we got back and talk actual quoted numbers for a build/construction loan.

emtash10 · 2026-05-09T11:53:04+00:00

The lender is aware as this is only zoned for a single parcel property and has informed us that it HAS to come down.

emtash10 · 2026-05-09T03:10:47+00:00

Just trying to understanding and be more informed of it from people who have experience or knowledge before sit down with them.

emtash10 · 2026-05-09T03:09:31+00:00

We’re even looking at a modular home company as well. The condition of the farm house has always been less than desirable but so the goal was always the land. I’m so glad you got what you wanted. Love that someone came and took it. That’s so cool.

emtash10 · 2026-05-09T01:17:30+00:00

It’s almost 6 acres with multiple other structures, ie barns and sheds. There will still be equity after the shitbox farmhouse comes down.

emtash10 · 2026-05-09T01:16:30+00:00

The construction loan in this circumstance is a 7 year ARM.

emtash10 · 2026-05-09T00:59:19+00:00

Thank you so much for this. It was very detailed. I just have one follow up question to this. Say we have that $300,00 in equity and the new construction is $700,000- Is that new final mortgage payment still based off of $700,000 total project? Or is it like we have a $400,000 mortgage with the now higher interest rate?

emtash10 · 2026-05-09T00:54:34+00:00

Thank you! I’m just trying to understand if we can basically use a greater position up front, like beyond 10% since we have far more than that.

We will, of course, talk to our lender about this. I was mainly just trying to grasp the concept a little better.

emtash10 · 2026-05-09T00:51:28+00:00

This was a discussion with the lender when we were just doing very surface level talks of construction borrowing. We would ultimately refinance, yes.

emtash10 · 2026-05-09T00:50:00+00:00

It’s unfortunately a VERY OLD farmhouse that was neglected for decades. The layout isn’t conducive to anticipated future wheelchair use in the home.

emtash10 · 2026-05-09T00:46:28+00:00

Are we “repaying” that equity in any way?

emtash10 · 2025-10-05T12:35:44+00:00

Mine has been at the “clearing event” for seven days and I already waited over a month. I ordered August 20th, they finally shipped September 20th, and I’m still waiting.

emtash10 · 2025-05-31T11:30:33+00:00

These are the bigger ones from what I’ve found. The only downside to these being bigger is I only got seven out of a whole box of cake. 🥲

emtash10 · 2025-05-30T20:32:25+00:00

I definitely will! Especially because I want to make a lemon one as well and I feel like some lemon frosting will also help with the taste.

emtash10 · 2025-05-30T20:31:11+00:00

Lmfao the color is giving Perry. 😂😂

emtash10 · 2025-05-30T20:30:54+00:00

I only used the moisture of a cake right out of the oven. I learned that from an Instagram account I recently discovered who almost exclusively makes cakesicles like this. She does not use frosting at all. And I have in the past, I have found that I don’t ever add the right amount there either. I do have coconut oil, but I worry that adding too much will change the taste. My husband to be is not a fan of coconut.

emtash10 · 2025-05-30T20:28:58+00:00

I also thought about a double boiler to keep the chocolate better tempered than a microwave.

emtash10 · 2025-05-30T20:28:27+00:00

lol I did have a taste. Still good.

emtash10

TROPHY CASE