Finance
In Alaska, a 'bridge loan' is typically used when:
AA borrower is building a bridge on their property
BA homeowner needs short-term financing to purchase a new home before selling their current home✓ Correct
CA developer is financing a bridge over a waterway
DA buyer needs to finance improvements to a property they are purchasing
Explanation
A bridge loan provides short-term financing (typically 6-12 months) to allow a homeowner to purchase their next home using equity in their current home before that home is sold. It 'bridges' the gap between the purchase and the sale proceeds.
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