Finance
A NC 'bridge loan' is used primarily to:
AFinance the purchase of undeveloped land only
BProvide short-term financing to bridge the gap when a buyer needs to purchase a new home before their old home sells✓ Correct
CFinance commercial bridge projects
DFund renovations on existing properties
Explanation
A bridge loan is a short-term loan that provides temporary financing to allow a buyer to purchase a new home before their current home sells, using equity from the existing home as collateral.
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