Finance
What is a hard money loan in real estate?
AA government-backed mortgage
BAn asset-based short-term loan from private lenders with higher rates, often for investors✓ Correct
CA mortgage requiring a large down payment
DA loan with fixed interest rates
Explanation
Hard money loans are short-term, asset-based loans from private lenders (not banks), using the property as primary collateral. They feature higher interest rates and fees, quick approval, and are popular with fix-and-flip investors.
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