Finance
A construction-to-permanent loan in Massachusetts is a type of financing that:
AFunds only the purchase of existing homes
BProvides funds for construction and then converts to a permanent mortgage upon completion✓ Correct
CIs only available to developers, not individual buyers
DRequires a 50% down payment by law
Explanation
A construction-to-permanent (one-time close) loan funds the construction phase and then converts to a standard mortgage when the home is complete, avoiding the need for two separate closings.
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