Finance
In South Carolina, which loan type is typically used to finance a condominium development through the sale of individual units?
AFHA streamline refinance
BConstruction-to-permanent loan or end loan on individual units✓ Correct
CUSDA rural development loan
DReverse mortgage
Explanation
Condominium development is often financed with a construction loan during building, then individual unit buyers obtain end loans (purchase mortgages) at closing. The construction loan is paid off as units are sold.
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