Can you refinance a interest only construction loan prior to converting to conventional? - refinance interest
My wife and I recently moved into a new house that we continue to pay interest on the loan only. We sold our other house, and I would be money that they got put on the loan. Can you convert the money to refinance or if we?
Wednesday, January 6, 2010
Refinance Interest Can You Refinance A Interest Only Construction Loan Prior To Converting To Conventional?
1 comment:
I think when you say "turn" conventional produce, which a construction loan that automatically conventional financing obtained after completion of the construction phase. No need to read the terms of your loan, it is difficult to know. Some loans have penalties for early repayment. Read the loan documents or ask the lender directly, and make sure that it is written.
I have a construction loan for the purchase and renovation of the investment properties, which would be the conventional bank financing. I could pay any amount in order to repay the capital at any time, but each loan is different.
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