I'll try to keep this simple and short.

I would like to tear down existing house and build new of same size, It needs too much work. Currently have mort. on existing, LTV of 84% credit is good,not a lot in savings, can an IRA be used as collateral ? Would a new construction loan rolled into a new refi. mort. be feasible ? I'm approaching 50 and could afford to pay it off in 15yrs. Current mort. bal. $111,000.00 Would like to finance up to another $100,000.00. I'm talking about 832 sq. ft. building.

Doing research online leaves me bewildered. Lots of conflicting info. out there.

Any comments will be greatly appreciated.