Finance
A Utah construction-to-permanent loan converts from:
AAn adjustable rate to a fixed rate automatically
BA short-term construction loan to a long-term permanent mortgage upon completion✓ Correct
CA commercial loan to a residential loan at closing
DA hard money loan to a bank loan
Explanation
Construction-to-permanent loans fund the construction phase and then convert to a standard mortgage when construction is complete, avoiding two separate closings and sets of closing costs.
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