construction loan: Using a Conventional Single Close Loan to Build Your 1st or 2nd Home - 07/13/17 11:54 AM
What is a Construction to Permanent Loan? A conventional Construction-to-Permanent (C2P) loan is used to finance the construction of a new primary or secondary residence and permanent mortgage all into one single transaction with one closing. The homeowner is approved for a Conventional C2P loan if the homeowner is qualified for the long-term permanent Conventional financing. 
 
Upon completion of construction, the borrower will be required to modify the interim construction loan (ICL) into a permanent conventional fixed rate loan. There will be no additional closing or closing costs required. This loan is available Nationwide
 
Loan Requirements
30% down payment or 70% LTV based … (0 comments)