Finance
In Montana, a buyer who obtains 'gap financing' is:
AFinancing the gap between the purchase price and appraised value
BObtaining short-term financing to bridge a temporary gap in funds, such as between the sale of a current home and the purchase of a new one✓ Correct
CUsing government assistance to fill the affordability gap
DGetting a second mortgage to fill a down payment shortage
Explanation
Gap financing bridges a temporary shortfall in funds—typically the period between needing funds for a new purchase and receiving proceeds from the sale of an existing property. It is a form of bridge loan.
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