Finance
A 'hard money loan' is typically characterized by:
ALow interest rates from traditional banks
BGovernment backing and favorable terms
CShort terms, high interest rates, and funding based on property value rather than creditworthiness✓ Correct
DLong amortization periods and fixed interest rates
Explanation
Hard money loans are short-term, asset-based loans from private lenders. They close quickly and are based primarily on property value (LTV), making them popular for fix-and-flip investors, but they carry high interest rates and fees.
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