Finance
A hard money loan is BEST described as:
AA government-backed loan with strict qualification requirements
BA short-term, asset-based loan from a private lender with higher interest rates✓ Correct
CA loan secured by personal property rather than real estate
DA loan that is difficult to qualify for due to credit requirements
Explanation
A hard money loan is a short-term loan from private investors secured by the property's value (not the borrower's creditworthiness). They typically have higher interest rates and fees but close quickly, often used by investors who need fast financing.
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