Finance
What is a 'bridge loan' in real estate?
AA permanent mortgage used to purchase a new home
BShort-term financing that bridges the gap between the purchase of a new home and the sale of a current home✓ Correct
CA government-subsidized loan for first-time buyers
DA loan used exclusively for bridge construction
Explanation
A bridge loan (swing loan) provides short-term financing to allow a buyer to purchase a new property before selling their existing one. It uses the equity in the current home as collateral and is repaid when the existing home sells.
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