Finance
A bridge loan in real estate is used to:
AFinance major renovations to a property
BProvide short-term financing to 'bridge' the gap between buying a new home and selling the current one✓ Correct
CRefinance a mortgage at a lower interest rate
DFinance commercial construction projects
Explanation
A bridge loan is a short-term loan that provides temporary financing, typically allowing a buyer to purchase a new home before their current home sells. It 'bridges' the gap between the two transactions.
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