Finance
A construction-to-permanent loan for a new NH home converts from a construction loan to a permanent mortgage:
AWhen the builder's framing is complete
BWhen the home is completed and receives a certificate of occupancy✓ Correct
CAutomatically after 12 months
DWhen the first draw is issued
Explanation
A construction-to-permanent loan converts from the construction (interest-only draw) phase to a permanent amortizing mortgage typically upon completion of the home, issuance of a certificate of occupancy, and lender inspection.
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