Finance
What is a 'bridge loan' and when would an Idaho buyer use one?
AA loan for purchasing property near a bridge
BA short-term loan that allows a buyer to purchase a new home before their existing home sells, bridging the gap in financing✓ Correct
CA government-sponsored loan for rural areas
DA loan requiring multiple collateral properties
Explanation
A bridge loan provides short-term financing to allow a buyer to purchase a new home when they haven't yet sold their existing home. Bridge loans are typically short-term (6-12 months), carry higher interest rates, and are secured by the existing home. They help avoid contingent offers when purchasing a new Idaho property.
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