Finance
A hard money loan is characterized by:
ALow interest rates and long terms
BAsset-based lending with high interest rates and short terms, often from private lenders✓ Correct
CGovernment backing and low down payments
DNo prepayment penalties
Explanation
Hard money loans are asset-based loans from private investors or companies, typically featuring high interest rates, short terms, and quick approval, used when traditional financing is unavailable.
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