Last reviewed 10-31-2026Short-Sale.com Editorialglossary
Two-Time Close
FreddieMac
Updated 10-31-2026
Two-Time Close
For a Construction to Permanent Mortgage or Renovation Mortgage, a transaction structure where there are two separate closings for Interim Construction Financing and Permanent Financing. The Note and the Security Instrument for the Interim Construction Financing and the Permanent Financing are on a separate set of loan instruments.
FreddieMac Glossary
FreddieMac · p. 45
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