Refinancing a Construction Loan Shreveport LA

Interest rates are at all time lows right now and we're considering refinancing our original construction loan. When we built the house four years ago we used a construction loan to help finance the construction.

Local Companies

Beneficial Mortgage Co of Louisiana
(318) 797-9438
8238 Jewella Ave
Shreveport, LA
Regions Mortgage
(318) 797-6616
6602 Youree Dr
Shreveport, LA
Financial Mortgage Company
(985) 727-4401
790 Florida St
Mandeville, LA
Fmc Mortgage Co
(985) 246-6603
328 N Columbia St
Covington, LA
Professional Mortgage Loan Services Llc
(985) 853-0306
7836 Park Ave
Houma, LA
Advanced Mortgage Co
(504) 834-4587
3421 N Causeway Blvd
Metairie, LA
Amstar Mortgage
(225) 749-0449
557 E Main St
Brusly, LA
Dimension's Mortgage Company
(504) 885-8877
3813 Lake Villa Dr
Metairie, LA
Amstar Mortgage Corporation
(225) 665-1079
25200 Denver St
Denham Springs, LA
Cottonport Insurance Agency
(318) 876-3341
211 Cottonport Ave
Cottonport, LA

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dollar-sign1Interest rates are at all time lows right now and we're considering refinancing our original construction loan. When we built the house four years ago we used a construction loan to help finance the construction. The construction loan was a adjustable rate mortgage with the first 7 years fixed. The rate was 5.875% and it will remain at that rate for another 3+ years.Considering how low rates have gone I've started shopping around for a new 30 year fixed rate loan to refinance out of the original construction loan.  Currently I'm finding rates in the 5.125% to 4.875% range for a 30 year fixed mortage with zero points.The interesting part of all this is hearing all the new fees and regulations that have popped up over the last couple of years. As one banker put it to me today we are all paying a price for the sins of the past banking industry. There is a 0.25% fee being added to fixed mortgages by the fine folks at FannieMae (presumeably to cover insurance on loans). Banks are being much more strict on limits that require escrow accounts to cover taxes and insurance. And it's very unlikely that you'll be getting a mortgage without significant equity in your property.Having said that I hope we can refinance our existing construction loan to a 30 year fixed mortgage in the coming months. Preferably somewhere around 4.75% with any luck!

Click here to read article at HomeConstructionImprovement.Com

Featured Local Company

www.worstbankintown.com

936.645.8001
1307 CR 833
Nacogdoches, TX


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