Back to Results
I would like to refinance our two loans and lock into a 15 to 30 year mortgage.We have a home equity loan in the amount of $188,000 at a rate of 5%. We took out a construction loan in the amount of $172,000. This was converted to secondary loan with an interest rate of 6%. My wife and I both have credit scores of around 800.These loans are with two seperate local banks that I also do business with.We have done most of the rebuilding ourselves and we are down to the last 10% to finish. We would really like to lock in with one consolidated rate on the combined amount with where rates are right now.Best guess on our appraised value when complete is somewhere in the high 300s to lower 400s. Not really any recent comparables where we live.Will we need to have the home 100% finished to get the appraisal? Obviously, the goal is to finish the home as quickly as possible, but I am just checking if it is possible to move forward sooner with a refinance.
Please enter a valid email address.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.
Please enter text in the "Enter the text to display" field.
Please enter text in the "Enter URL" field.
Please enter a valid URL.
Please insert a video embed only
Lots of trim work, which is probably what every homeowner leaves for last. I also have one bathroom I need to finish completely.I think I am just going to wait until everything gets done. I have been getting a little nervous about rates moving up, plus I am having a heck of time to get someone to finish the bathroom for us. You would think in this economy it would be much easier to find someone.
Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.
For Sale: $59,900
For Sale: $249,000
For Sale: $99,000