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A construction-permanent mortgage (CP loan) is a three stage mortgage that allows you to finance the construction of your new home. There are several types of CP Loans. The down payment, draw schedule, payment during construction period varies from lender to lender, interest rates and conversion terms also vary


Step 1: The application process is similar to all other types of loans and Mortgages. The borrower will have to prove and meet certain requirement.

  • Good Credit
  • Down Payment (source and seasoning of down the payment monies).
  • Ability to repay the loan (Income). Often stated as Debt to Income Ratio.

Step 2: The constructing and disbursement phase. A percentage of monies are paid for work and materials which have been finished, installed and/or completed limited to the amount that corresponds to the percentage of completion according to the disbursement schedule.


The lender usually performs an inspection before disbursement of funds.


Step 3: At this point the home construction is completed and the loan is converted to permeant financing.

The new homeowner will now make monthly loan payments based on the agreed upon permanent loan agreement.

All listings featuring the RMLS logo are provided by the Regional MLS of Florida.

This information is not verified for authenticity or accuracy and is not guaranteed.

©2023 Regional Multiple Listing Service, Inc. All rights reserved.
MLS data updated 12/01/2023

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