a short-term loan to finance the building phase of a real-estate project.
Words nearby construction loan
Definition for construction loan (2 of 2)
[ teyk-out ]
/ ˈteɪkˌaʊt /
the act or fact of taking out.
something made to be taken out, especially food prepared in a store or restaurant to be carried out for consumption elsewhere.
Informal. a store, restaurant, or counter specializing in preparing food meant to be carried out for consumption elsewhere.
a section, as of a magazine, that may be removed intact, usually consisting of a story, article, or set of illustrations.
Also called takedown, takeout loan, takeout mortgage. Finance. a long-term real-estate mortgage arranged for a building the construction of which is financed by an interim short-term loan (construction loan).
- Bridge. a bid in a suit or denomination different from the one bid by one's partner.
- Poker. the minimum with which a player can begin.
pertaining to or supplying food and drink to be taken out and consumed elsewhere: the takeout window of a restaurant.
Also takedown. of, relating to, or providing a takeout mortgage: The high-rise developer has found a takeout commitment from a large insurance company.
Origin of takeout
First recorded in 1915–20; noun use of verb phrase take out
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020