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Construction Loan
DAVCON Offline
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#1
07-06-2007, 03:29 PM
Does anyone know what the going interest rate is on a construction loan? I was quoted 7.625% during the construction phase, after completion and it converts to a 30 year fixed they say that is when the rate will drop. Does this sound typical.

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John S. Rabi Offline
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#2
07-06-2007, 03:33 PM
The interest rate will depend on many things but once the construction is done and converted to a residential loan your interest rate should be lower.

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