Finance
A Maine homebuyer uses a bridge loan. A bridge loan is a:
ALong-term fixed-rate mortgage
BShort-term loan providing funds until permanent financing is obtained or an existing property is sold✓ Correct
CGovernment-backed rural development loan
DAdjustable-rate mortgage with a 5-year fixed period
Explanation
A bridge loan provides short-term financing to bridge the gap between buying a new home and selling an existing one. It is typically repaid when the existing home sells.
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