Can I refinance right after construction? Yes! Since the construction loans are ARM products, many clients will refinance shortly after construction is complete to a traditional 30 year fixed rate.
Although the construction loan is for a 30 year term, the rate is not fixed for 30 years. Rate options are fixed for three, five, seven, and ten years.
Can I refinance right after construction? Yes! Since the construction loans are ARM products, many clients will refinance shortly after construction is complete to a traditional 30 year fixed rate.
Although the construction loan is for a 30 year term, the rate is not fixed for 30 years. Rate options are fixed for three, five, seven, and ten years.
