Financing, which is subordinated to construction and LTD. It is in the form of a "second" or subordinate mortgage, which may be exchanged with an owner in consideration of land use for development.
A short-term, temporary loan used until permanent financing is available, e.g., a construction loan.
an agreement between a lender and builder where the lender agrees to advance certain sums to the builder during construction
Or interim financing. A loan made with the expectation of repayment from the proceeds of another loan. Most often used in reference to a construction loan.
A loan made with the expectation of repayment from the proceeds of another loan. Most often used in reference to a construction loan. Also called interim financing.
Short term loan usually made during construction of a building. After completion of the structure, a permanent loan (takeout loan) is customarily arranged.
A short tem loan under circumstances anticipating a subsequent long term loan.
an interim loan is ordinarily used as a temporary measure prior to securing a term loan. Interim financing is generally made for periods of less than three years. Examples of interim loans include construction financing or short term loans used to substantially renovate a property.
Loan that is to be replaced by a permanent loan.
A short-term mortgage loan, often for the construction of a building.
Also known as a Construction Loan; it is a short-term loan that finances construction.
