Term used to define the last mortgage on a property, as opposed to either a a temporary loan for refurbishment or a midpoint loan.
the loan amount you are left with after you have sold your existing home and pay the proceeds towards your bridging loan
The conversion from a construction loan to permanent financing a condominium buyer secures after all units in a project have been completed.
The final mortgage loan to the ultimate purchaser of a properties as opposed to a construction loan or other form of interim financing.
Same as permanent mortgage.
see permanent loan. Entitlement (Eligibility)–entitlement for a home loan guaranteed by the VA; also, the VA home loan benefit.
Conversion of a construction loan to a permanent mortgage, on a multi-unit project, after all units have been completed.
