Definition of Permanent loan:
Long-term (maturity period 15 to 30 years) mortgage loan or bond issue. In real estate projects, permanent financing is obtained after completion of construction, usually to repay the short-term (non-permanent) construction loan. Also called permanent financing or permanent mortgage.
Despite its name, permanent loans are generally not permanent, although they may last for a long time.
A permanent loan is a type of loan with an unusually long term. The term can have different meanings, however, depending on the context in which it is used. .
(In on permanent loan) a situation in which an object is in the possession of one party (often a museum, gallery, etc.) and remains in the ownership of another, but without expectation of its return.
A long-term financial loan without a fixed date for repayment; a sum of money lent for an indefinite period.
How to use Permanent loan in a sentence?
- Permanent loans have different meanings depending on their context.
- The term is commonly used in the fine art and real estate markets.
- With the exception of certain government bonds, permanent loans are not in fact permanent.
Meaning of Permanent loan & Permanent loan Definition