Posted on: 14th Nov, 2010 04:05 pm
Does anyone know which lending institution in Northern lower Michigan is the best for construction loans? I need a construction loan, then need to convert to FHA mortgage when the house is done.
Is Chemical Bank a good choice for this endeavor?
Thanks!
Is Chemical Bank a good choice for this endeavor?
Thanks!
Hi MIgirl,
You will have to speak to the local lenders and shop for the loan. This will help you in knowing the rates and terms available in the market. You can then chose the one that's affordable for you. This community has a large number of lenders. You can seek a no obligation free mortgage quote from the lenders and get to know what type of rates and terms you may receive.
Thanks
You will have to speak to the local lenders and shop for the loan. This will help you in knowing the rates and terms available in the market. You can then chose the one that's affordable for you. This community has a large number of lenders. You can seek a no obligation free mortgage quote from the lenders and get to know what type of rates and terms you may receive.
Thanks
I appreciate your reply...but when "shopping" for a loan, will my credit score suffer if several lenders are checking it? I have a good score and I do not want it to drop because of excessive checks on it.
Also, what exactly should I "shop" for? I thought interest rates were pretty much set across the board; is there something else I need to be aware of?
Thanks very much!
Also, what exactly should I "shop" for? I thought interest rates were pretty much set across the board; is there something else I need to be aware of?
Thanks very much!