Chat with AI
Real Estate Principles 3rd Edition by David Ling,Wayne Archer
Edition 3ISBN: 978-0073377322Real Estate Principles 3rd Edition by David Ling,Wayne Archer
Edition 3ISBN: 978-0073377322 Exercise 5
Which statement is incorrect concerning the typical construction loan
A) It is made by a bank.
B) The interest rate floats over either the prime rate or LIBOR.
C) The loan typically is for 80 percent or less of total construction costs.
D) The loan extends a few years after a certificate of occupancy is issued.
E) The loan is dispersed in stages, based on the level of completion or on actual invoices.
A) It is made by a bank.
B) The interest rate floats over either the prime rate or LIBOR.
C) The loan typically is for 80 percent or less of total construction costs.
D) The loan extends a few years after a certificate of occupancy is issued.
E) The loan is dispersed in stages, based on the level of completion or on actual invoices.
Explanation
Verified
Verified
A construction loan is a loan made on th...
Real Estate Principles 3rd Edition by David Ling,Wayne Archer
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
