conversion_type

Specifies the conversion of a loan’s structure from its initial form to a different form upon a specified date, milestone, or trigger (e.g., line to term, construction to permanent).

├── converting_to_permanent
└── converting_to_term

converting_to_permanent

A loan that is structured to convert into long-term permanent financing upon completion of a project or satisfaction of a specified condition, as defined in the agreement (e.g., a construction-to-permanent (C2P) loan converting into a permanent mortgage once the project is complete).

converting_to_term

A loan that is structured to convert into a term loan after an initial period of availability or another specified trigger, as defined in the agreement (e.g., a revolving or non-revolving line converting to term at the end of the draw period).