Finance
A construction loan in Georgia is typically structured as:
AA 30-year fixed loan disbursed at closing
BA short-term loan with draws disbursed in stages as construction progresses✓ Correct
CAn interest-only balloon with no repayment until construction finishes
DA government-insured loan for new construction only
Explanation
Construction loans are short-term loans that disburse funds in draws as construction milestones are met. Upon completion, the construction loan is typically converted to (or replaced by) a permanent mortgage.
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