Finance
A hard money loan in Utah real estate is characterized by:
ALow interest rates and long terms from traditional banks
BShort-term, high-interest loans based primarily on property value rather than borrower creditworthiness✓ Correct
CGovernment-backed financing for low-income borrowers
DFixed-rate loans from credit unions only
Explanation
Hard money loans are typically short-term, asset-based (collateral-driven rather than credit-driven), and carry higher interest rates. They are often used by real estate investors for fix-and-flip projects or when traditional financing is not available or too slow.
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