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Swing loan

A short term loan used to transition in between the paying off of an old loan, and the inception of permanent financing. This is often used to build or purchase a new home, when the previous home is still owned, but is up for sale. Once the previous home is sold, and the owner receives the proceeds from that sale, permanent financing is usually obtained.

See also:
  • Second Home
  • Second Mortgage
  • Secondary Mortgage Market
  • Seller financing
  • Seller take-back
  • Selling Agent
  • Settlement
  • Settlement Statement
  • Special assessment
  • Special Stipulations
  • Subject to
  • Subject to mortgage
  • Subordination clause
  • Subsidized Second Mortgage
  • Survey
  • Sweat Equity
  • Swing loan

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