• MPF 125, MPF 35, MPF Original
  • January 31, 2025

MPF Announcement 2025-11

MPF Traditional – Single Close Construction-to-Permanent Update

Effective Date: Immediately (unless otherwise noted)

The MPF Program is updating the MPF Traditional Selling Guide by incorporating guidance regarding acceptable construction loan periods for single-close construction-to-permanent transactions.

The construction loan period for single-closing construction-to-permanent transactions must not exceed 18 months. After conversion to permanent financing, the mortgage loan must have a loan term not exceeding 30 years, disregarding up to 18 months of the construction period.

For additional information, see MPF Traditional Selling Guide Section – 2.3.1 Maturity and 2.6.3.2 Single Close Transactions.

If you have any questions, please contact the MPF Service Center via email MPF-Help@fhlbc.com or phone 877- 345-2673.


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