Finance (alternative)
In Maryland, a 'hard money loan' is typically characterized by:
ALow interest rates and flexible terms from government lenders
BHigher interest rates and fees, short terms, asset-based lending often used by real estate investors✓ Correct
C30-year fixed terms with government backing
DZero down payment requirements
Explanation
Hard money loans are short-term, higher-cost loans from private lenders, primarily secured by the real estate asset rather than borrower creditworthiness. Commonly used by investors for fix-and-flip projects.
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