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Originally Posted by Chris i would be paying on two houses at once or paying on the new one and then renting something

Most people get a construction loan from a bank, with take outs (cash draws) to pay off on work completed. The construction loan can be interest only or interest to accrue.

It might be 70% to 80% of the estimated completed value -- when the house is completed, the construction loan rolls over into a normal mortgage with the same bank.

Ask at your bank if they make construction loans or call a few mortgage brokers.