Finance
In Missouri, a 'bridge loan' is used when:
AFinancing is needed for a new bridge construction
BA buyer needs short-term financing between purchasing a new home and selling their existing home✓ Correct
CFinancing a property under a bridge or overpass
DTwo lenders share a single mortgage
Explanation
A bridge loan is short-term financing that allows a buyer to purchase a new home before their existing home sells. It 'bridges' the gap and is repaid when the current home sells. Bridge loans typically have higher interest rates and fees.
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