Finance
A 'bridge loan' in Arizona real estate is typically used to:
AFinance new construction
BProvide short-term financing to a buyer who needs funds to purchase before their current home sells✓ Correct
CConvert a commercial property to residential
DFinance a property with environmental issues
Explanation
A bridge loan provides short-term financing allowing a homebuyer to purchase a new home before their existing home sells, 'bridging' the gap between the two transactions. They typically carry higher interest rates.
Related Arizona Finance Questions
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