Finance
A Connecticut 'hard money' loan is typically characterized by:
AVery low interest rates and long repayment terms
BShort-term, high-interest financing based on property value rather than borrower creditworthiness✓ Correct
CGovernment-backed financing for low-income borrowers
DFixed-rate financing at prime rate
Explanation
Hard money loans are short-term, asset-based loans with higher interest rates, typically provided by private investors or companies. They are valued for speed and flexibility, not borrower credit.
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