Construction-to-Permanent Loans Explained: Financing Your New Build in Meridian, Cortina, or Encanterra

If you're building in Meridian, Cortina, Encanterra, or one of Queen Creek's other master-planned communities, you'll likely encounter the term "construction-to-permanent loan" — here's what it actually means for your build.

What a Construction-to-Permanent Loan Is

Also called a "one-time-close" loan, a construction-to-permanent loan funds your build in draws during construction, then automatically converts to a standard mortgage once the home is complete — one closing, not two. See our new construction financing page for the full breakdown.

Why This Matters for a 6-12 Month Build

Queen Creek new-construction timelines commonly run 6-12 months from contract to close. A construction-to-permanent structure avoids a second round of underwriting, appraisal, and closing costs once your home is finished — and can offer rate-lock options that carry across the build period, which matters if rates move during construction.

Construction-to-Permanent vs. Two-Time-Close

A two-time-close structure requires a separate construction loan and a separate mortgage refinance once the home is finished — meaning two closings and two sets of closing costs. Construction-to-permanent closes once and converts automatically, which is why it's the more common structure for new-build buyers in this market.

How This Compares to Your Builder's Offer

Builders in Queen Creek's master-planned communities often present financing through a preferred lender as part of the purchase process — and their construction-to-permanent structure may look similar on the surface. It's still worth getting an independent comparison before you sign, since terms, rate-lock options, and fees can vary meaningfully between lenders.

Queen Creek Mortgages helps Queen Creek and San Tan Valley buyers understand construction-to-permanent financing and compare it against builder-offered terms — reach out for a free, no-obligation conversation.