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Message
re: 30 year mortgage rates.
Posted on 5/18/16 at 8:14 pm to DownshiftAndFloorIt
Posted on 5/18/16 at 8:14 pm to DownshiftAndFloorIt
Stupid question but do the same rates apply for new construction loans?
3
Posted on 5/19/16 at 6:27 am to sonoma8
quote:
Stupid question but do the same rates apply for new construction loans?
spec home yes
construction to perm no. Construction part that is
This post was edited on 5/19/16 at 9:01 am
Posted on 5/19/16 at 9:05 am to sonoma8
quote:
sonoma8
quote:
Stupid question but do the same rates apply for new construction loans?
Ours was new construction. But it wasn't construction-to-perm financing. Builder package or spec in other words.
Posted on 5/20/16 at 9:57 am to sonoma8
construction loans are a little different with the bank I work for. We do a one time close and most customers are taking the 5/1 arm at 2.875% to build the home and then once the house is completed we modify that to the current 30yr fixed rate.
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