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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

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

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

Now that the finishing touches are complete, the couple loves the results: a character home that has been beautifully remodeled to honor its Spanish heritage and an ADU that covers their construction loan.

From Los Angeles Times • Sep. 6, 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

But the lender for the project’s $52 million construction loan was Silicon Valley Bank.

From Seattle Times • Mar. 13, 2023