Finance
What is a 'hard money loan' and when might an Idaho investor use one?
AA loan with very strict credit requirements from a bank
BA short-term, asset-based loan from a private lender with higher interest rates, used when conventional financing is not available or too slow✓ Correct
CA federal program for distressed borrowers
DA loan that cannot be refinanced
Explanation
Hard money loans are short-term loans from private investors or companies, secured primarily by the property value rather than borrower creditworthiness. In Idaho, investors use them for fix-and-flip projects, auction purchases, or when closing speed is critical and conventional financing is too slow or unavailable.
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