What questions should I ask a lender when getting a loan to build a house?

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What questions should I ask a lender when getting a loan to build a house?

Some of the advice I've already gotten is to ask about bridging payments and whether the payments and interest will remain fixed in time. Any more ideas please?

2006-11-05 13:26:06 · 3 answers · asked by BSR 1 in Business & Finance ➔ Renting & Real Estate

3 answers

Things like...
1. interest rate
2. fixed or variable rate
3. penalties for late payments
4. length of term of loan
5. monthly payment amount

2006-11-05 13:34:52 · answer #1 · answered by ezachowski 6 · 0⤊ 0⤋

Before asking about rate and loan programs, first I'd ask "do you offer construction-to-permanent financing?"

2006-11-05 15:23:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋

what is the interest rate. and is this a fixed rate

2006-11-05 13:28:46 · answer #3 · answered by 2sweet4u 4 · 0⤊ 0⤋