Finance
A Wisconsin property buyer who obtains a 'construction-to-permanent' loan is using a loan that:
AOnly funds the construction phase
BConverts from a short-term construction loan to a permanent mortgage upon completion✓ Correct
CIs guaranteed by WHEDA
DRequires two separate closings
Explanation
A construction-to-permanent loan finances the construction phase and then converts automatically to a permanent mortgage when construction is complete, requiring only one closing.
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