Non standard construction

JohnBravo

Hi All,

   I hope you are well.

What is the reality and impact of non-standard-construction property on the mortgage rate? Are we talking about increase of mortgage and insurance rates after the decimal point or a more significant increase?

Thank you

JohnBravo

Does anyone know or went through this himself or herself?

MWT

You may be talking about no mortgage at all, it depends on the type of construction you are dealing with and the specific lender.

JohnBravo

Does it mean it is better in this case to go through brokers who specialize in this type of stuff?

MWT

JohnBravo said:

Does it mean it is better in this case to go through brokers who specialize in this type of stuff?

Absolutely, also talk to others in similar property nearby if possible to get an idea of who provided their mortgages, especially the recent purchases.