Construction Loan Law and Legal Definition
Construction loan is a loan granted to a developer for the actual construction of a building project. For sanctioning such a loan, the lending institution usually requires a developer to have good credit, building experience, and financial strength before approving the loan.
Legal Definition list
Related Legal Terms
- Acquisition and Improvement Loan [Veterans' Relief]
- Acquisition Loan [HUD]
- Acquisition, Development and Construction (ADC) Loan
- Adjustable Rate Mortgage Loan
- Administrative Cost of Issuing a Loan Guarantee
- Air Loan
- Allowance for Loan and Lease Losses
- Amortized Loan
- Association for Crime Scene Reconstruction [ACSR]
- Automatic Premium Loan Option
