The term of repayment on a permanent loan is generally longer than that on a construction loan.

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This is because a permanent loan is designed to finance the long-term ownership of a property, while a construction loan is meant to cover the costs of building the property. A permanent loan may have a repayment term of up to 30 years, while a construction loan typically has a short-term repayment term, often around one year.

The Term of Repayment on a Permanent Loan Is Generally