Finance
A Florida homebuyer uses a 'bridge loan' in their purchase. A bridge loan is best described as:
AA government program that bridges the gap in affordable housing
BA short-term loan allowing the buyer to purchase a new home before selling their current home✓ Correct
CA loan that bridges a creditworthiness gap by using co-signers
DA construction loan that bridges the gap between land purchase and construction completion
Explanation
A bridge loan (or swing loan) is short-term financing that allows a homebuyer to purchase a new home before they sell their existing home. The bridge loan uses the equity in the existing home as collateral.
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