Finance
A hard money loan in real estate is characterized by:
ALow interest rates and long repayment terms
BShort-term, asset-based lending at higher rates, often used by investors for quick closings✓ Correct
CGovernment-backed mortgage insurance
DFixed interest rates set by the Federal Reserve
Explanation
Hard money loans are short-term loans from private lenders secured by real estate. They have higher interest rates than conventional loans but offer speed and flexibility, making them popular for fix-and-flip investors.
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