Finance
In Texas, a 'hard money' loan is characterized by:
ALow interest rates and easy qualification standards
BAsset-based lending with higher rates, shorter terms, and faster approval — often used when conventional financing is unavailable✓ Correct
CGovernment-guaranteed lending programs
DLoans with fixed payments for 30 years
Explanation
Hard money loans are asset-based (secured by real property) with higher interest rates, shorter terms (often 1–3 years), higher fees, and faster underwriting/closing. They are used by investors, fix-and-flip buyers, or when conventional financing is not available.
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