Finance
A 'bridge loan' in Illinois real estate refers to:
AA government loan program for low-income bridge workers
BShort-term financing that bridges the gap between the purchase of a new property and the sale of an existing property✓ Correct
CA construction loan that bridges the land purchase and the home build
DAn FHA loan for multi-family properties
Explanation
A bridge loan is short-term financing (typically 6-12 months) that helps a buyer purchase a new property before their existing property has sold. It 'bridges' the gap between transactions.
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