Question: Which statement is incorrect concerning the typical construction loan? a . It is made by a bank. b . The interest rate floats over either

Which statement is incorrect concerning the typical construction loan?
a. It is made by a bank.
b. The interest rate floats over either the prime rate or LIBOR.
c. The loan typically is for 80 percent or less of total construction costs.
d. The loan extends a few years after a certificate of occupancy is issued.
e. The loan is dispersed in stages, based on the level of completion or on actual invoices.
Which statement is incorrect concerning the

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