16.

In regards to financing, mini-perm loans are normally used:

Group of answer choices

For construction, lease-up, and one or two subsequent years

For construction and all subsequent periods

For lease-up period

At local coffers

17.

Which of the following is required from a developer when financing a land development project?

Group of answer choices

A detailed breakdown of project cost

Bank references for the general contractor to be used on the project

All of the above

Required zoning changes

18.

In regards to construction loans, which one of the following is the most common way of disbursing the loan proceeds.

Group of answer choices

Series of payments throughout the construction project to reimburse the developer for costs incurred since the previous payment

Single lump sum of money at the closing of the loan

Series of payments throughout the construction project to reimburse the developer for anticipated expenses in the upcoming period

Single lump sum of money at the end of the construction project to reimburse the developer for the project's expenses and profit

19.

In regards to the land development process, select the best option that represents the most feasible order of events.

Group of answer choices

Inspect site, perform feasibility analysis, implement marketing program, purchase land and begin construction of improvements

Inspect site, purchase land and begin construction of improvements, perform feasibility analysis, implement marketing program

Purchase land, perform feasibility analysis, perform preliminary market study, begin construction of improvements, implement marketing program

Inspect site, perform feasibility analysis, purchase land and begin construction of improvements, implement marketing program

20.

In regards to more seasoned mortgages, which of the following is true?

Group of answer choices

The greater the likelihood of prepayment

All of the above

The greater the likelihood that the mortgage will be carried to maturity

The greater the likelihood of default