Finance
A 'hard money loan' in Arizona real estate is characterized by:
AGovernment-backed financing
BAsset-based lending by private lenders, typically at higher rates with shorter terms, used for non-conforming properties or situations✓ Correct
CFixed-rate financing with the lowest available interest rate
DA loan requiring no documentation
Explanation
Hard money loans are asset-based loans from private investors or companies, focused on the property's value rather than the borrower's creditworthiness. They carry higher interest rates and fees but can close quickly for non-conventional situations.
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