Finance
A Washington buyer uses a bridge loan to:
AFinance a commercial bridge or overpass property
BTemporarily finance the gap between buying a new home before selling the current one✓ Correct
CPurchase land before construction financing is available
DConvert an ARM to a fixed rate
Explanation
A bridge loan is short-term financing that 'bridges' the gap between purchasing a new home and receiving proceeds from the sale of the existing home. It is used when the buyer cannot wait to sell before buying.
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