Posted on: 02nd Oct, 2009 12:21 am
What is the difference between a conventional fixed mortgage and a construction loan mortgage? We are discussing flipping a house and don't really know the best loan?
If you are not goign to build a house, bu just a house then you do not need a construction loan
A conventional mortgage will finance just the purchase of the property. If you are in need of some rehab work on the property, there are a number of programs available to you to get the work done to maximize profit margins.
check this post
http://www.mortgagefit.com/refinance/optionarm-interest.html
http://www.mortgagefit.com/refinance/optionarm-interest.html