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construction loan

American  

noun

Finance.
  1. a short-term loan to finance the building phase of a real-estate project.


Example Sentences

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Affordable housing projects begin with a construction loan to build the housing.

From Seattle Times ● Feb. 7, 2024

Typically, homeowners must obtain a construction loan for an ADU from a participating lender before seeking an ADU grant.

From Los Angeles Times ● Dec. 11, 2023

The mall, called Europark, was used as collateral for a Hotel Moska construction loan that later was sold by the issuing bank, causing Smagin to lose his interest in the mall.

From Los Angeles Times ● Sep. 7, 2023

A Trepp study of 4,760 banks' public regulatory data published late Tuesday found that 763 have either a CRE or construction loan concentration ratio that exceeded these thresholds.

From Reuters ● May 17, 2023

Daniel Klein, president of Klein Enterprises, a commercial real estate management firm based in Maryland, had been talking to several banks recently about a construction loan for a new project.

From New York Times ● Mar. 22, 2023

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