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Take-out financing
Take-out financing Long-term permanent financing. In the usual large construction project, the developer obtains two types of financing. The first is the interim loan, a short-term loan to cover construction costs.
RELATED TERMS--------------------------------------
Developer
One who attempts to put land to its most profitable use through the construction of improvements.
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
SIMILAR TERMS--------------------------------------
PREVIOUS AND NEXT TERMS--------------------------------------
Thirty-year fixed mortgage refinance
A Thirty-year fixed mortgage is a loan that has an interest rate that stays the same for the Thirty-year term of the loan.
Thirty-year jumbo mortgage
A 30-year jumbo mortgage is a home loan that exceeds the limits set by Fannie Mae and Freddie Mac (the 2005 limit is $359,650; $539,475 in Alaska, Hawaii and the U.S. Virgin Islands).
Three way switch
A light switch that allows a person to turn the light on or off from either end of a hallway or stairway.
Table funding
Simultaneous conveyance of purchase price and title as well as all loan papers at a closing.
Tacking
Adding or combining successive periods of continuous occupation of real property by adverse possessors. This concept enables someone who has not been in possession for the entire statutory period to establish a claim of adverse possession.
Take-out financing
Taking
A common synonym for condemnation, or any interference with private property rights, but it is not essential that there be physical seizure or appropriation.
Talking sign
A radio transmitter with a range of up to 250 feet that broadcasts a description of a property to prospects listening to a radio tuned to the transmitter's frequency.
Tandem plan
A mortgage subsidy program offered from time to time by the United States Congress. The Government National Mortgage Association (GNMA) purchases certain mortgages at below market interest rates, granting borrowers low-interest loans. GMNA sells the loans on the secondary market at a discount, the discount being the amount of the subsidy.
Tap fees
Most companies charge a tap fee for hooking up utilities.
Tax
As applied to real estate, an enforced charge imposed on persons, property or income, to be used to support the State.
This dictionary contains 6433 terms. |
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