Finance
A bridge loan is BEST described as:
AA long-term construction loan
BA short-term loan that helps a borrower purchase a new property before selling their existing one✓ Correct
CA loan secured by a bridge or other infrastructure
DA refinancing loan at a lower interest rate
Explanation
A bridge loan (also called swing loan) is short-term financing that allows a borrower to purchase a new property before their existing property sells. It bridges the gap between the two transactions and is repaid when the old property sells.
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