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Reload this Page construction loan (rate, refinance, Colorado, Denver)
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Old 04-04-2009, 06:27 PM
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Default construction loan
we want to build new house in denver colorado. spoke with broker about construction loan and were told that rate cannot be fixed for 30 years after it rolls to mortgage. we would like to do that since rates are low now. instead he suggested to go with construction loan that rolls into 1 year fixed mortgage and than refinance for 30 years fixed mortgage. doesnt make sense to me, i would like to know what you think about this.
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