Finance
In Montana, a 'hard money loan' is characterized by:
ALow interest rates and long terms from major banks
BShort-term, high-interest loans secured by real property, typically made by private lenders based on property value rather than borrower creditworthiness✓ Correct
CGovernment-backed loans for low-income borrowers
DFixed-rate conventional loans with no fees
Explanation
Hard money loans are short-term, high-interest loans secured by real property, typically made by private investors or companies. They focus on the property's value (after repair value) rather than the borrower's credit, and are used for fix-and-flip projects or when conventional financing is unavailable.
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