Finance
In North Dakota, a 'hard money loan' for real estate is typically:
AA government-backed FHA loan
BA short-term, high-interest loan secured by real property, often used by investors who cannot qualify for conventional financing✓ Correct
CA fixed-rate 30-year mortgage
DA loan with no interest charges
Explanation
Hard money loans are short-term bridge or investment loans secured by real estate. They come from private lenders, have higher interest rates and fees than conventional loans, and are often used for fix-and-flip or other investment projects.
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