Bridge Financing. A home trade can be made or construction may be started after acceptable deposits have been made at least in four calendar quarters if the purchase price of the home or the construction of the home is financed with bridge financing agreed on with the bank. When agreeing on bridge financing, the ASP depositor and the bank must also agree on the final bridging loan and a possible state guarantee. The ASP depositor cannot obtain bridge financing if the terms and conditions of the home saving agreement are met.
Appears in 3 contracts
Sources: Home Saving Agreement, Home Saving Agreement, Home Saving Agreement