Search Elements:
- Taxonomy
- us-gaap
- Name
- ConstructionLoanPayableMember
- Label
- Construction Loan Payable [Member]
- Period Type
- duration
- Type
- dtr-types:domainItemType
- Definition
- A real estate loan to finance building costs. The funds are disbursed as needed or in accordance with a prearranged plan; generally, a portion of the funds is disbursed at inception and the remainder as construction progresses. The money is repaid on completion of the project (generally one to seven years), usually from the proceeds of a mortgage loan.
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