Definitions for "Takeout Loan"
Long term, permanent loan that replaces a short term, interim construction loan.
A first mortgage loan that is committed and expected to be made upon completion of a specified real estate project.
A type of loan commitment-a promise to make a loan at a future specified time. Most commonly used to designate a higher cost, shorter term back-up commitment as a support for construction financing until a suitable permanent loan can be secured.
Keywords:  tandem, plan
Tandem Plan