Definitions for "Construction loan"
One that finances subdivision costs and/or improvements to real estate.
a short-term loan (usually 4-12 months). Draws are taken from the construction loan to pay for the house as it is built. Once the house is near completion long-term financing is procured.
A loan made to a builder or home owner that finances the initial construction of a property, but is replaced by a traditional mortgage one the property is completed.
Keywords:  adjustment, period, payment
Payment Adjustment Period