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Old 11-15-2011, 06:14 PM
  #15  
SurfFishLife
Senior Member
 
Join Date: Sep 2009
Location: Georgia
Posts: 2,028
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I've been in the mortgage business for the past 18 years. Franklinscar had very good advice. 4.75% is not bad for the construction phase. Maybe not the lowest in town, but not bad. When you get ready to convert to the permanent phase, then you should be getting "market" rates - although many lenders will make the permanent rate slightly higher than market. This is because they know that if you choose to get your permanent financing somewhere else by refinancing that you will pay more closing costs.
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