Finance
What is 'bridge financing' in Delaware real estate?
AFinancing for the construction of bridges and other infrastructure
BA short-term loan that bridges the gap when a buyer needs to close on a new property before selling their existing home — typically paid off when the old property sells✓ Correct
CA federal program bridging the gap between conventional and government-backed financing
DA Delaware state program providing low-interest loans for home repairs
Explanation
Bridge financing is a short-term loan (typically 6–12 months) secured by the borrower's existing home, providing funds to close on a new property before the existing home sells. It 'bridges' the gap between purchase and sale. Bridge loans carry higher interest rates and fees than standard mortgages.
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