Development Loan

Definition of "Development loan"

Loan used by a developer for the purposes of paying development costs. A development loan is paid by unit sale proceeds. See also construction loan.

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What is the difference between being prequalified and preapproved for a loan? Should I Consolidate My Debt? Do I need flood Insurance? What if the computer I want to insure is homemade or custom-built? What is earnest money?