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Renovation Loan APR
Posted on 11/2/15 at 12:12 pm
Posted on 11/2/15 at 12:12 pm
What is the going %rate on renovation loans, I was just quoted 4.375%. Is that a good rate?
Posted on 11/2/15 at 1:12 pm to ntgreek00
it's not a bad rate. Whitney Bank does renovation loans but not a on a 30yr fixed product
Posted on 11/2/15 at 4:14 pm to hawkeye007
Thanks I was not sure, becasue my rate prior was 3.??% and I did not know how renovation loan %s worked.
Posted on 11/2/15 at 4:25 pm to ntgreek00
is a renovation loan the same as a home equity loan?
Posted on 11/3/15 at 9:37 am to ntgreek00
a renovation loan is a refinance. You take the house plans for the renovation and have an appraisal done. the bank will loan you 90% of the value of the appraisal. so the type of renovation will be important to raising your value of the house
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