Can I refinance my mortgage loan if my house is under construction?
Written By: jacob on November 10, 2009
2 Comments
I bought an ancient house last year and the remodeling has not finished yet. The interest rate is low right now and I want to take advantage of it before it goes up.
Thank you.
Related Posts
Tags: fixed rate private student loan consolidation, home equity loan lowest rate, interest rate, remodeling
Well it would need to be appraised and if because of the construction its not worth as much as you owe then you would be upside down.
not until the renovations are complete as the appraiser will take pictures and the lender will not lend on subject to completion. The only other way is if you have an FHA note then you can streamline with out an appraisal
I am a mortgage banker in TN & KY