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The following are true statements about the characteristics of senior construction loans: ( Select all that apply ) 1 . All costs are eligible for
The following are true statements about the characteristics of senior construction loans: Select all that apply
All costs are eligible for funding by the senior loan
The quoted loan size of the senior loan does not include its own interest
The principal is drawn down piecemeal on a monthly basis as eligible loan costs are incurred
Repayment comes only from a refinancing
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