Building loan

BUILDING LOAN - a mortgage loan made to finance the construction of a building. It is advanced in stage...
BUILDING MORATORIUM - A temporary or permanent halt on construction.

Building Loan
A loan for he construction of a building, usually providing periodic payments for specified phases. In many instances, a building loan may be converted into a mortgage at the end of the construction project.

Building loan This is a loan applied for to build a house.
C
Cancellation figures The bank advises the attorney of these figures.

building loan agreement
agreement whereby the lender advances money to an owner at specified stages of construction, for example, upon completion of the foundation, framing, etc. Same as construction loan agreement.
Referring Terms: ...

Savings and loan associations, which are state institutions, provide home-building loans to their members out of funds obtained from savings deposits and from the sale of shares to members.

See also: Construction loan, Banks, Origination, Administration, Savings and loan association