Construction Loan Interest Rates. Understanding mortgage and construction loan interest rates can be confusing. In order to build a house you will need both a construction loan and a mortgage loan. The term of your construction loan is either one year or when your home is complete.
agency noun (ORGANIZATION). B1 [C] a âbusiness that ârepresents one âgroup of âpeople when âdealing with another âgroup: an âadvertising/âemployment/âestate/âtravel agency C1 [C] a âgovernment âorganization: an âoverseas âaid agency the Central Intelligence Agency.
EXPRESS AUTHORITY. Authority expressly given by one party to another. In agency law, an agent has express authority to act for a principal if both parties agree, orally or in writing, that an agency relationship exists in which the agent had the power (authority) to act in the place of, and on behalf of, the principal. FIDUCIARY.