want to know

Hi,

There are construction to permanent home financing programs which will be suitable for you as these loans cover both the construction finance as well as turn into a permanent loan after the construction completes.

Hi,

Let me give you some more information to what Dave has mentioned. In this type of loan there is a single application for the loan and one closing.

At the time of closing the terms of the construction as well as the permanent loan are decided. After the construction completes the loan automatically converts into a permanent loan based on the terms that were fixed.

Thanks
James

Hi,

You can go through this article for more information on this type of financing arrangement: Construction to Permanent Loans

Thanks
Colin

Hi Guest,

I too feel you can apply for construction to permanent loans. It will help you acquire funds for the construction purpose and then upon the completion of the construction period, it can be converted to a traditional mortgage.

Read through the section on Construction-to-permanent financing for more details.

Thanks,

Caron.