I am after a fixed loan for 2yrs for construction of a house. What is the best interest rate out the

The lowest one I have found to date is 7.09%. We own a home now but will move into the new one when it is built so we have heaps of equity.

I am after a fixed loan for 2yrs for construction of a house. What is the best interest rate out there?

In my years of experience, It's rare to obtain a 2 year construction term loan. There are construction to perm loans with usually a 3-18 month construction phase, at that time you can convert the loan to a permanent one usually based on the market. Most do offer a rate ceiling and rate floatdown option to take advantage of lower future rates or protect against rising rates. You can get a land loan for that term and then, later get a construction loan once you're ready to build. If you got and actually construction loan fixed at that rate, that's pretty good. Just beware, you have to give people full details on what your plans are to accurately quote you. Most loan officers are not familiar with these types of program and misquote, bait and switch, etc... Let them know if you're using the loan to build, buy land and hold, buy land and build at once, how long the construction will take, etc. to get an accurate rate.

I am after a fixed loan for 2yrs for construction of a house. What is the best interest rate out there?

Rates on 30-year mortgages will likely fluctuate for the rest of the year in a narrow range of between 6.5 percent and 7 percent, Freddie Mac chief economist Frank E. Nothaft predicted

A two year loan is uncommon. A 15 year loan would be cheaper, maybe 6.16, according to this report. Rates are also dependent on your location.

I am after a fixed loan for 2yrs for construction of a house. What is the best interest rate out there?

What's your credit? How much are you putting down? You going to live there? Where are you?

7.09% sounds like an APR. APR is useless - actually, it's worse than useless. If you're only going to be in the loan or in the house for two years, a higher rate with lower initial costs may be in your best interest. And with the yield curve like it is, you may be able to get a better rate on a thirty year fixed than on a short term loan like that. If you're A paper, pretty much every A paper lender out there has loans that pay all of the costs of your loan lower than that. Talk to a broker in your area. Talk to six or ten brokers in your area.

I am after a fixed loan for 2yrs for construction of a house. What is the best interest rate out there?

we got Good faith estimate today - 6.625% 30 yr fixed with 20% down...