Construction to Perm GuidanceI'm looking to begin constrution on my primary residence using a C/P loan that has a 5.25% rate (lowest available). The program has a float down option once the construction is within 10 days of receiving the Cert. of Occupancy.I'm wondering if it would be possible to do a rate lock (45-60days) ahead of that for a refi to hopefully catch a significantly lower rate if they begin to rise. Can a rate lock be issued if the house is not yet complete? Is this wise?Details:Lot+Construction Cost: $465kDown Payment: $100kGross Monthly Income: $8,522FICO: 780Debt-to-Income Ratio (Front/Back): 30%/30% (i.e. no debt other than this house)BTW- I'm using a big regional bank here in GA, but feel free to direct me to another CP Program if better fit.Thanks.May 03 2012 - Brookhaven00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.