What is an advantage to a two closing construction loan? and Phone Call with President about Student Loans

What is an advantage to a two closing construction loan?

We are trying to get a lower down payment on a construction loan and thought that maybe a two closing loan would let us do that even if we have to pay 2 sets of closing costs. Is this true?
I am concerned about the amount of the down payment which is 10%. I was wondering about the 2 closing loans, one being a construction loan and the other being a regular loan if the down payment would be less. I know I will pay 2 closings, but why is this type of loan even offered if there is no advantage to it?


loan best answer:

Answer by real estate guy
not sure what you are talking about.

usually you get a construction loan. when the house is complete, it is converted into a regular mortgage. The key word is converted vs refinance. Thus you save having to do a 2nd closing.

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Phone Call with President about Student Loans


Image by MDGovpics
Governor O'Malley takes phone call with president about student loans by Tom Nappi at Governor's Office, State House, Anapolis, Maryland

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