Typical Construction Loan Rates A construction loan is structured differently than a regular home loan so don’t be alarmed if you see higher interest rates. In fact, you can definitely expect to see higher rates because of the additional risk involved for the lender and because of those extra steps necessary to complete the inspection process.
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Add up all the costs to see how long it will take you to break even and start saving. If you are reasonably confident you will remain in your house past the break-even point and long enough to save a considerable amount, refinancing your mortgage is a good idea. Many refinance mortgage calculators are available online to make this calculation easy.
construction draw process Category: Construction Draw Process. How construction loan software Fast Tracks the Construction Draw Process. In the modern world, there is no more need for borrowers to wait months for their draw requests to move through the construction draw process before receiving payment. Just as.
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