We are doing a loan to refi an existing mortgage ($100,000)and provide funds for construction of a new 1-4 (1,000,000). We are refinancing the current property that is being demolish and funding the construction of a new 1-4. The current property is being demolish and new construction will begin. Since we are paying off the current property that is being demolish, would this be considered a reportable HMDA transaction? or because the main portion of the funds $900,000 being used for new construction and construction loans are not reported, we would not need to report this loan.

What are the repayment terms? Is this loan temporary financing, or is the perm phase built in?

You have a construction loan due to a portion of the proceeds being used to construct a dwelling but it is not clear if you have a construction only or a construction/perm loan.

If construction only the loan would not be reportable.

If a const/perm it's your option to report at the beginning of the construction phase or the permanent phase.

We are only doing the construction portion.

Not reportable then.