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Mortgage Professor about construction bridge loans: | |||||||||||||||||||||||
Market Niches Priced on Line
All UMLs fill out this form and display it on their web site. Comments by Mortgage Professor Loan Programs Priced On-Line by LENDER X ... more... Pitfalls in the Financing of Home Construction March 22, 1999 " My wife and I are considering having a house built for us and I would like to know the basics of combination construction/permanent mortgages. What do we look out for?" Construction can ... more... |
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construction bridge loans related definitions |
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Bridge Loan
Bridge Loan A bridge loan is a short-term loan, usually a second mortgage, run for 6 month but may be taken taken out for a period of 2 weeks to 3 years. The borrower's current home (which is usually "for sale") is ... more... Interim Financing Interim Financing A construction loan made during completion of a building or a project. A permanent loan usually replaces this loan after completion. Interim loans are used to bridge the gap between the construction loan and the permanent loan (hence bridge loans) ... more... |
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