If you have a borrower that already owns the land and we are providing the const/perm financing, what purpose should we input in the purpose field for HMDA?

Purchase.

5. Construction and permanent financing. A home purchase loan includes both a combined construction/permanent loan and the permanent financing that replaces a construction-only loan. It does not include a construction-only loan, which is considered “temporary financing” under Regulation C and is not reported.

Not to be confused with how you might have to categorize it for TRID.

Construction-perm (for the original construction of a dwelling) is a purchase, whether or not the land is owned or purchased with the CP funds.

Thank you.