When to lock rate for Perm Financing?
When did you lock your rate to convert from a construction loan to permanent Financing?
I have an option to lock in at 3.5% (30 yr fixed) for a 75 day lock. I am probably 45 days from completion on the house.
I am staying with the same lender that did the construction loan so I took advantage of their "one Time close option" on the original loan. My only closing costs on this loan will be about $400 conversion fee. No points no origination.
Will rates get better? How much? I know they are at an all time low right now.