Construction Loan.

construction loans.

Construction Loan - A short-term interim loan to fund the construction of buildings or homes, which usually advances the money in installments as work progresses.

Permanent Loan - A long term mortgage of 10 years or more.

Construction Loan Cash Out. - A refinance for more than the balance of the current mortgage.

Construction Loan Refinancing. - The process of paying off one loan with the proceeds from a new loan secured by the same property.

Construction Mortgage Loan. - A loan for which real estate serves as collateral to provide for repayment.

Construction Home Equity Loan. - An additional mortgage secured by the equity in the home. All funds for this loan are disbursed at closing. (In contrast, see Home Equity Line Of Credit).

Construction Equity Line Of Credit. - A revolving line of credit secured by the equity in the home. Unlike a Home Equity Loan, these funds may be drawn and repaid like a credit card.

Construction Loan Refinance.