Definition of "Swing loan"

"Same as term bridge loan: Short-term loan that is made in anticipation of permanent longer term loans. The interest rate on such a loan is usually higher than on longer term loans. An example is a temporary loan made to allow for a closing on the purchase of property before permanent mortgage financing; A business loan in which cash is received for a specific transaction, and repayment will be from cash flows from an identifiable source. The purpose of the loan and the source of repayment are related; hence the reference bridge loan. "

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Market price pf all the property prior to a condemnation proceeding. ...

(1) Right to engage in and earn from a particular activity in return for services or for a particular use. (2) Reduced price used as an incentive. (3) Permission or right, granted by a ...

Type of a real estate investment trust whose investment money is used for the purchase of a portfolio of specific properties to be managed in order to generate investment return through ...

Rainwater pipe attached to a roof gutter channeling the run off down and away form the building. ...

Lender's written assurance that the borrower has fully paid the obligation. The borrower may then show this instrument to interested parties. ...

Maximum loan that can be borrowed by a potential debtor. A ceiling loan represents the topmost credit that can be extended. ...

Favorable occurrence providing a good chance for success, usually in financial terms. ...

A real estate professional’s job is to represent their seller’s or buyer’s best interest in a real estate transaction through an agency relationship. This means that the ...

A lease requiring tenants to pay all utilities, insurance, taxes, and maintenance costs. ...

Popular Real Estate Questions