Finance
In Massachusetts, a 'construction loan' is typically converted to:
AA short-term bridge loan
BA permanent mortgage (take-out loan) when construction is complete✓ Correct
CA HELOC at the end of construction
DA government grant
Explanation
A construction loan provides short-term financing during the building phase. Upon completion, it is converted ('taken out') by a permanent mortgage (take-out loan), which provides long-term financing.
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