building and loan

Definition of "building and loan"
  1. A financial institution, synonymous with a savings and loan association, traditionally established to lend money to individuals for the construction of homes once they have saved a sufficient down payment
How to use "building and loan" in a sentence
  1. He decided to approach the building and loan to secure a mortgage for his dream house.
  2. Their building and loan has helped many families in the area build their homes.
  3. She was saving up for a down payment with the intention of getting a home loan from a building and loan.

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