What does Construction To Permanent Loan mean?

A construction to permanent loan is a type of loan that finances both the construction of a new home or structure, and the mortgage on the finished property. The loan is typically set up as a single package and transitions from the construction phase to the permanent phase once the construction is complete.

Related Terms

Counteroffer Expense Stop Alkaline Soil Fixed-rate mortgage Cluster Development Buyer's Market Landscape Architect Equivalent Level Rate (ELR) Net Operating Income (NOI) Credit Repository HUD/ Closing statement Trust Account Deed Firm Commitment Mortgage-Interest Deduction Days On The Market Equifax Principle of Regression