To the beginning borrower: you are in a 2/28 subprime ARM, which most reasonable has a prepayment penalty. Since the customer should beware, you should have fully known what you were getting into. The finishing app at closing undoubtedly indicated proceeds far higher than your c tithe returns show. You got a stated gain loan. Please pursue to payment so you do not become another statistic.
To the subordinate question: the answer is mostly correct. The legal reason why you can not have financing is that you started the project without a construction loan. This will repudiate you from financing concern because a lender is not unable to exist title insurance. The christen insurer can not guarantee the lender lustrous title because the builder did not sign a surrender of liens upfront.
If you are edifice the home yourself, that is also a big problem since lenders will not concession for you to be your own general contractor notwithstanding of the experience you may have in home building. Try to get a Home Equity Line of Credit for the diversity and foresee the lender uses an automated value and does not stress to sojourn the home.
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