![An illustration of a home under construction](https://www.bankrate.com/2022/10/28141412/Construction-to-permanent-loans.jpg?auto=webp&fit=crop&width=230&height=150)
What is a construction-to-permanent loan?
The upside of a construction to permanent loan: The borrower only pays for a single transaction.
So much about buying a home is about timing. Knowing the time is right for you personally is more important than trying to time the housing market.
— Andrew Dehan
About the author
Andrew Dehan is a writer for Bankrate’s Home Lending team. He has been writing about real estate, mortgages and personal finance since 2020 when he began working as a writer and editor with Rocket Mortgage. He has since been published by Forbes Advisor, Business Insider and SmartAsset. He graduated from Grand Valley State University with a Bachelor of Arts in Writing.
As a homeowner himself, Andrew is passionate about writing content that empowers people to make large financial decisions. The experience of buying a home highlighted to him how crucial clear and useful information is during the process. Whether it was researching the right lender, choosing whether to buy mortgage points or understanding changing interest rates, Andrew dove in to learn more. He brought this passion as a writer to Bankrate in 2023, where he writes articles to help people understand mortgages and the process of buying a home.
Andrew lives in metro Detroit with his wife, two kids and two dogs. He enjoys problem-solving, nature and music. He feels most in his element when he’s learning, writing or building a fire.
So much about buying a home is about timing. Knowing the time is right for you personally is more important than trying to time the housing market.
— Andrew Dehan
The upside of a construction to permanent loan: The borrower only pays for a single transaction.
Younger generations want to buy homes — but they also want the freedom to grow their careers and spend on experiences.
They can be, but be sure to crunch the numbers and be aware of the caveats.
To get the right answers (and the right mortgage), you have to ask the right questions. And be ready to answer a lot, too.
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