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One-Time Close

FreddieMac

Updated 10-31-2026

One-Time Close

For a Construction to Permanent Mortgage or Renovation Mortgage, a transaction structure where there is one closing for both Interim Construction Financing and Permanent Financing. The terms for the Permanent Financing are documented in the Note and Security Instrument with the terms of the Interim Construction Financing in an addendum or rider.

FreddieMac Glossary

FreddieMac · p. 30

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