Finance
What is a hard money loan in the context of Nevada real estate investment?
AA loan with a fixed interest rate that cannot be changed
BA short-term, high-interest loan from private lenders secured by real property, often used by investors for quick acquisitions or fix-and-flip projects✓ Correct
CA government-backed loan with strict qualification requirements
DA loan requiring hard assets as collateral other than real estate
Explanation
Hard money loans are short-term, asset-based loans from private lenders. They are secured by real property, carry higher interest rates and fees, and close faster than conventional loans. They are popular with Nevada investors for fix-and-flip projects and time-sensitive acquisitions.
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