Should I use my construction lender for my permanent financing?

"I am about to complete the finishing touches on a major remodel to my house. For this remodel I have the property on a construction loan. Can I shop around for my permanent financing or is it better to go with the bank that provided the construction loan?"

While considering the mortgage lender who funded your construction loan, you should of course shop around. The lender with your existing loan may provide the advantage of already having (almost) all your paperwork on file, and so may be able to offer you a faster, easier permanent financing process. However, you'll want to know if the rates and terms you are being offered are in line with the rest of the market.

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Keith Gumbinger
Keith Gumbinger
Mortgage Expert
Vice President,
About Keith: Mortgage market observer and analyst with 35 years experience... (more)
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