What is required to roll the construction loan to a permanent loan?
Loans are rolled to the permanent phase effective the first of each month. The final Draw Request should be received no later than the end of the construction completion month. Our Roll-to-Perm Department will contact the borrower once the final disbursement has been made. The borrower may also contact us to discuss roll-to-perm options. When the final Draw Request is made, the Loan Administrator will prepare the loan file for processing and reprising by the Roll-to-Perm Administrator. Loans are rolled to the Permanent phase effective the first of each month. The loan would then be eligible to “roll’ from the construction phase to the permanent phase.
