Asheville mortgage rates? (construction loan, house, construction)

[NC_Paddler]

Who is offering the best mortgage rates in the Asheville area right now? Would prefer a local bank, but hey, money talks.

Thanks in advance.

[NC_Paddler]

Actually, never mind. Turns out the local bank is the way to go! (4.375% and no closing costs . . . sweet!!)

[willbo1]

Who has that offer? I would appreciate any guidance! Thanks!

[queenofbavaria]

I also think, local is a good thing. we are going with home trust, since they were the only one we could find, who would not ask for 30 % down (we'll pay 20). but this will be a construction loan, which is different anyway.

overall we have only good experiences with ING. direct.
for our current house (5 arm) we are down to 2.75 % - hart to beat, I guess.

[motordavid]

Originally Posted by NC_Paddler

Actually, never mind. Turns out the local bank is the way to go! (4.375% and no closing costs . . . sweet!!)

That's a good rate, imo, NC_Paddler...
Our daughter has been in the mort biz for 20 years,
(she is one of the legit ones), and she said that is about
as good as it is right now, without CCs/other fees.
Be careful of any "fees" slipped in, at closing.
GL, mD

[NC_Paddler]

Went with Asheville Savings Bank . . . very good experience with those folks . . . very prompt, courteous, and responsive.

Did not hear good things about Home Trust, but nothing first hand.

There is a small recording fee ($150) that I'll have to pay out of pocket, but that's it, according to the bank.

[NC_Paddler]

Originally Posted by queenofbavaria

overall we have only good experiences with ING. direct.
for our current house (5 arm) we are down to 2.75 % - hart to beat, I guess.

2.75%??? Is that a typo??

[motordavid]

Originally Posted by NC_Paddler

2.75%??? Is that a typo??

That's a 5 yr ARM, she wrote...
and, I suspect some "fees" in that note, too.

ARMs are interesting as they keep the "get in"
low...but, one has to bet on the period end "come",
or re-fi along the way. Re Fis are not free.

Imo, mort rates these days are like stock mkt "returns"
were, a few years ago: cocktail party talk.
GL, mD

[queenofbavaria]

Originally Posted by NC_Paddler

Went with Asheville Savings Bank . . . very good experience with those folks . . . very prompt, courteous, and responsive.

Did not hear good things about Home Trust, but nothing first hand.

There is a small recording fee ($150) that I'll have to pay out of pocket, but that's it, according to the bank.

we'll see, if we should run into any kind of trouble, we might change after construction time.

and yes ... I mean ... NO , that was not a typo, but as I've said, for a 5 year arm, since we did not know for how long we would stay in the country.
we did a lot of research and ING (also with the fees, they are asking for) was very competitive. but - they don't do construction loans.

but, we had asheville savings bank on our list too, I might check on them again in a couple of months. thanks for the information.