Finance
What is a 'hard money loan' in Nevada real estate and when is it typically used?
AA government-backed loan requiring strict qualification criteria
BA short-term, asset-based loan funded by private investors, used when traditional financing is unavailable or speed is critical✓ Correct
CA loan with a fixed rate that never changes, offered only by credit unions
DA Nevada-specific loan product for first-time buyers in Clark County
Explanation
Hard money loans are short-term, high-interest loans from private lenders or investors, secured primarily by the real property value rather than the borrower's creditworthiness. In Nevada's active fix-and-flip and investment markets (particularly Las Vegas), hard money loans are common for quick acquisitions, rehab projects, or borrowers who cannot qualify for conventional financing.
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