Question
Should I REFINANCE a construction loan to a permanent loan OR convert to a permanent loan?
It seems that interest rates are much lower for refinancing existing loans, as opposed to new loans. I have a construction loan which doesn't expire for a few months, would it be better to refinance the construction loan to a permanent mortgage or do a construction to permanent conversion loan? Which will get me a lower interest rate?
2 months ago - 1 answers
Best Answer
Chosen by Asker
Generally the lender will lower the rate when you convert and the closing fees will be lower. I'd start with my current lender
by wizjp
2 months ago
Asker's Rating: 