"I am about to complete the finishing touches on a major remodel to my house. For this remodel I have the property on a construction loan. Can I shop around for my permanent financing or is it better to go with the bank that provided the construction loan?"
While considering the lender who funded your construction loan, you should of course shop around. The lender with your existing loan may provide the advantage of already having (almost) all your paperwork on file, and so may be able to offer you a faster, easier permanent financing process. However, you'll want to know if the rates and terms you are being offered are in line with the rest of the market.
Should I use my construction lender for my permanent financing?
Recommended Reading
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Are reverse mortgage interest rates fixed or variable?
If you are a homeowner age 62 or older and have equity in your home, you may be considering a reverse mortgage as a way to boost your retirement income. -
Can I get forbearance for my mortgage?
The answer is "possibly." -
Haven't paid HOA fees. They are suing me. Can they foreclose?
It depends on the language of your HOA's bylaws. They may have the right to "foreclose" on your property, but it is more likely they will place a lien against your home. -
Can I refinance with an LTV above 80 percent?
The short answer is "yes," you can get a loan in excess of 80 percent loan to value (LTV) in a refinance transaction. -
Living on investment income. Can we refinance our Jumbo mortgage?
Have you talked to your investment advisor (if you have one)? Some firms will make mortgages for clients with different rules than those you'll find in the open market.
