Finance
A bridge loan is best described as:
AA long-term fixed mortgage for new construction
BA short-term loan allowing a borrower to bridge the gap between buying a new property and selling an existing one✓ Correct
CA government program for rural homebuyers
DA loan that converts from adjustable to fixed rate
Explanation
A bridge loan is a short-term financing tool that allows a buyer to purchase a new property before selling their current home, using the equity in the existing property as collateral.
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