Can i refinance my mortgage loan if my house is under construction?

Lorrine
I bought an old house last year and the remodeling has not finished yet. The interest rate is low right now and I want to take advantage of it before it goes up.Thank you.

Pamila
Well it would need to be appraised and if because of the construction its not worth as much as you owe then you would be upside down.

Anibal
not until the renovations are complete as the appraiser will take pictures and the lender will not lend on subject to completion. The only other way is if you have an FHA note then you can streamline with out an appraisalI am a mortgage banker in TN & KY