During the application/decision stage, your Mortgage Loan Originator (MLO) will help you understand the different CP loan options, gather the appropriate documentation, submit your application, and notify you of the bank’s decision.
New Home Financing Process
Finance Your Brand New GW Home in 3 Easy Steps!
The building and disbursement stage coincides with the construction of your home. Loan funds are disbursed based on the terms of your Construction Loan Agreement and draw schedule.
Step 2: Building & Disbursement
In this stage, your loan is converted from the construction phase to the permanent phase. Conversion marks the beginning of your permanent loan, when you begin making regular mortgage payments.
Step 3: Conversion
Ready to Learn More?
When you are ready to set up financing, contact your mortgage provider for more detailed information about Construction-to-Permanent Mortgages. Not all CP loans are the same, so ask your MLO about which loan product is best for you.