If you’re building a home, this is could be the type of lending product you are looking for.  A construction-to-permanent loan combines construction financing and mortgage financing into one loan. Your construction financing simply converts to a permanent mortgage when your house is finished. Because it is one loan and you are dealing with one lender, there is only one closing, so you can save money on closing costs. Plus, you’ll save time in not having to seek a second loan and the stress and worry of coordinating the time of your mortgage loan.