Finance
A Wisconsin 'construction-to-permanent' loan (also called a 'one-time close' loan) converts from a construction loan to a permanent mortgage:
AAfter 5 years of construction
BAutomatically when the construction is complete and the property passes final inspection, without requiring a second closing✓ Correct
COnly with the borrower's refinance application
DAfter a mandatory 12-month waiting period
Explanation
A construction-to-permanent loan automatically converts to a permanent mortgage when construction is complete, eliminating the need for a second closing and reducing transaction costs.
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