Finance
In Colorado, a 'hard money' loan is typically characterized by:
ALow interest rates from conventional lenders
BShort-term, high-interest loans secured by real property, often from private lenders✓ Correct
CGovernment-backed loans for low-income buyers
DLong-term amortized loans with fixed rates
Explanation
Hard money loans are short-term, asset-based loans typically made by private individuals or companies. They carry higher interest rates and fees but can close quickly and may be available when conventional financing is not. They are commonly used by fix-and-flip investors.
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