Finance
In Kentucky, a hard money loan is typically characterized by:
ALow interest rates and long terms
BShort terms, higher interest rates, and based primarily on the property value as collateral✓ Correct
CGovernment backing similar to FHA loans
DNo collateral requirement
Explanation
Hard money loans are short-term, asset-based loans with higher interest rates, used by real estate investors. Lending decisions are based primarily on the collateral value rather than the borrower's creditworthiness.
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