construction loan

Definition of "construction loan"
  1. A temporary loan for funding real estate improvements like building a new home, where money is provided as construction advances and must be repaid or permanently financed upon completion
How to use "construction loan" in a sentence
  1. The family secured a construction loan to build their dream home.
  2. The construction loan aided the company in building the new mall.
  3. Due to an inadequate budget, they had to apply for a construction loan to complete the apartment block.

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