Finance
A hard money loan in Utah is characterized by:
ALow interest rates and long amortization periods
BShort terms, high interest rates, and collateralized primarily by the property rather than the borrower's creditworthiness✓ Correct
CGovernment backing through FHA or VA
DLoans made only to first-time homebuyers
Explanation
Hard money loans are short-term, high-interest loans from private lenders used by investors for quick acquisitions or fix-and-flip projects. They are underwritten primarily on the property's value, not the borrower's credit.
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