Applying for a construction loan, how do we compare rates?

thanks - there are not very many lenders offering construction loans ...the likely best first step will be to locate the lenders that can offer the program and then ask your questions and compare the details...you should check with your local lenders / credit unions and small to mid size banks that are close to the subject property for the construction loan programs - good luck -Dave Skow | Loan Officer Movement Mortgage NMLS 278613 Dave.skow@movement.com Mobile (206) 714-9745

Construction loans are vary different than a long term fixed rate loan, like the traditional 30-year fixed. As typically a construction loan is harder to get, and only a short-term loan, most people don't get too excited about the interest rate on the construction loan. I'd be more focused on working with a lender who is very experienced in construction loans, and better yet, someone with a specific construction loan department. Now when i comes time to pay off the construction loan with your long-term end loan, that is when I'd be shopping a bit. I lend for homes in MN, FL, WI, IA, ND, and SD. Find me at SaintPaulMortgageBroker.com | Cambria Mortgage, NMLS 274132