A Construction to Permanent Loan (C2P) is a financing arrangement that transitions seamlessly from a construction phase to a permanent mortgage, eliminating the need for multiple loans and reducing overall costs. This type of loan is crucial for bridging the time gap between the completion of construction and the availability of permanent financing.
Interim Financing is a short-term loan used when a property owner is unable or unwilling to arrange permanent financing. It often includes a CONSTRUCTION LOAN and is typically arranged for less than three years, allowing time for financial or market conditions to improve.
