Proceeds of loans may be used to finance the costs associated with the planning, development, acquisition, construction, reconstruction, rehabilitation, or improvement of a project, including, without limitation, the following: Costs of appraisals and other necessary studies, including compaction tests, soil borings, market analysis studies, and construction cost estimates; Architectural and engineering costs for design and supervision; Acquisition of land and improvements, and site preparation; Costs of bonds, permits, and fees; Indemnity and surety bonds; Carrying costs during construction including construction interest, real estate taxes, and property insurance; Financing fees and charges imposed by the Administration; Legal, processing, packaging, and marketing fees and charges; The costs of surveys, title examinations, and title insurance; and Other costs authorized by Housing and Community Development Article, §4-201(e), Annotated Code of Maryland, and acceptable to the Administration. Program funds may also be used for loans to: Purchase existing or completed projects; Refinance a project; and Pay closing costs for loans.