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Construction Loan Financial Glossary

What is it? Short term financing of real estate construction. Generally followed by long term financing called a take out loan, issued upon completion of improvements.

Finance Term Definition Added By: David

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Other Similar Finance Terms:

Financial Term Unsecured Loan is A loan based on your promise to pay without savings or other collateral as a guarantee; sometimes called a signature loan.

Financial Term Standard variable rate is The mortgage interest rate charged by most lenders, which varies in line with rises and falls in the Bank of England base rate.

Financial Term Inflation is The amount in percentage terms by which prices rise or fall year on year.

Financial Term Guaranty is Agreement to pay the debt or perform the obligation of another in the event the debt is not paid or obligation is not performed.

Financial Term Graduated payment mortgage (GPM) is A mortgage requiring lower payments in early years than in later years. Payments increase in steps until the installments are sufficient to amortize the loan. Allows for negative amortization in the early years.