February 16, 2023
A construction to perm (C2P) loan is used to finance the build of a new home. A renovation loan is used to rehab or renovate an existing home. Both loans are a one-time closing which combines the loan to build your home as well as the permeant loan when it is completed. You can buy the lot or house with the loan or before starting this process.
This process takes about 60 days to complete. It can take longer than a typical mortgage as there are more steps. Most of our clients need more time to decide on their builder or contractor, nail down their build plans, and receive quotes.
If you’ve been thinking about purchasing land, building your future home, or renovating your current home our LendScout team is here to answer any and all questions you have!
“Whether you’re a first-time homebuyer or experienced homeowner, our team is committed to making your home ownership journey stress-free and easy for you.”
A Home Mortgage Lender located locally in Charlotte known for it’s customer satisfaction and efficiency.
Serving Charlotte, Cornelius, Huntersville, Matthews, Pineville, Fort Mill, Tega Cay, Rock Hill and surrounding areas with all their Home Loans, Home Refinance, Home Purchase, and Mortgage needs.
Photo Credit: Shutterstock