Please forgive this elementary question. We recently started offering construction to perm loans (variable rate). I am trying to enter one on the 2017 Lar. The FFIEC calculator states to use the term of the initial period until the rate is scheduled to change. The construction period is 18 months fixed and the perm adjusts after 5 years. So for the term, do I enter 5 years, 6 years or 7 years.....since can't enter 6.5 years. And I assume I use the APR from the perm closing disclosure, not the construction closing disclosure?
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