What is it?
DirectLenderMatch classifies Two-Close Construction-to-Permanent Financing under the financing form “Construction loan + permanent refinance.” Its typical use in this directory is: Separate construction and permanent closings.
How does it work?
The structure is generally evaluated, supported, or secured using the following basis: Land/construction then completed residence. Exact underwriting, eligibility, terms, and availability are provider-specific and can change.
What can it be used for?
Separate construction and permanent closings.
What backs or supports it?
Land/construction then completed residence.
Why does this structure exist?
This structure provides a defined way to address the financing need described above. The provider, transaction, collateral, and underwriting context determine how the structure is implemented in practice.
Important considerations
Confirm current costs, risks, licensing, eligibility, collateral treatment, recourse, tax consequences, and availability directly with the provider and appropriate professional advisers. DirectLenderMatch does not compare rates or recommend products.
Is this actually a loan?
Workbook classification: Yes. Financing forms such as leases, purchases, shared equity, advances, and guarantees may solve a funding need without being conventional loans.
Verified lenders or providers
Direct mortgage lender
New American Funding
New American Funding explains the two-loan/two-close construction-to-permanent structure while offering construction financing.
Official evidence page →Last verified: 2026-08-23
Related financing structures
Single-Close Construction-to-Permanent Mortgage
Construction converts to permanent mortgage at completion
Residential Construction-Only Loan
Build home before obtaining permanent financing
Conventional Manufactured-Home Real-Property Mortgage
Conventional financing of manufactured home/land
FHA 203(h) Disaster Victim Mortgage
Replace/rebuild principal residence after declared disaster
FHA Title I Manufactured Home Unit Loan
Finance manufactured home without land
FHA Title I Manufactured Home and Lot Combination Loan
Finance unit and land together