construction mortgage

Definition of "construction mortgage"
  1. A type of mortgage that provides loan funds for the purpose of building construction
How to use "construction mortgage" in a sentence
  1. The couple took out a construction mortgage to fund the building of their new home.
  2. If you are building a house, you might need a construction mortgage to finance the project.
  3. A bank can offer a construction mortgage to clients who are looking to construct a building.

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