Floor Loan
A minimum amount a lender is willing to provide on a commercial loan for a building designed to be tenant occupied. A floor loan is progressively funded as the building moves from the initial construction stage of occupancy. At its inception, a floor loan may fund up to 75% of the principal amount of the total loan and then provide additional portions of the principal as the building is constructed.
Popular Real Estate Terms
Arrangement whereby a party providing financing gets a portion of the ownership. ...
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Evaluation of housing requirements based on family size, ages, occupations, marital status, and other population characteristics. ...
Fee paid only if other criteria are met. ...
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location where someone stays on a permanent basis. An example is a home to a family. ...
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Provision in a credit contract specifying that if the lender sues the borrower for late payments, the borrower accepts guilt in advance, irrespective of the reason for nonpayment. ...
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