If you are considering a construction loan you may have heard that you will have the option to do a two time close, or a one time close depending on the type of loan you are taking out. Like everything in life there are pros and cons to each option, and when you would want to choose one over the other.

Many lenders offer construction to permanent loans. After the construction period ends, your loan will convert to a regular mortgage that you will make payments on either until you pay it off, refinance or sell.

Many borrowers like the convenience of only having to go through the mortgage process once.

 

 ++