Finance (alternative)
A Maryland 'bridge loan' is a short-term financing arrangement used by buyers to:
AFund long-term property improvements
BPurchase a new home before their existing home sells by using the existing home's equity as collateral✓ Correct
CRefinance an existing mortgage at a lower rate
DFund commercial land acquisition only
Explanation
A bridge loan provides short-term financing allowing a homeowner to purchase a new home before their current home sells, typically secured by the equity in the existing home.
Related Maryland Finance (alternative) Questions
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