If you haven't secured your Construction Financing as of yet. I'd be happy to talk to you about your options. Axia Home Loans has several options that would accommodate your parameters.
Feel free to email me @ firstname.lastname@example.org or call me at 503-577-2386.... more
The only reason a buyer took out an ARM adjustable rate mortgage was to qualify for a larger house payment and that got many buyers into trouble in the last 5 years. Today with interest rates at 50 year lows and ARM's at about the same rate there is no reason to take out an adjustable loan unless that you know the in the next 4 years you will be moving and getting rid of the loan and in this case you really might consider what the savings would be if the ARM adjusted up and to compare the savings over a fixed rate in the next 3-5 years. I have a feeling that rates will go back up because they are at a 50 year low and they cannot go down any further. If you would have taken out an adjustable loan in the past 15 years your payments would be lower with an ARM than a fixed because the rates have been coming down and the adjustable rates track down ahead of the fixed rates. Today though I would get a fixed rate loan.
Tom Inglesby, Broker
RE/MAX Equity Group