Finance
A Wyoming bridge loan (swing loan) is used when:
AA borrower needs funding for a bridge construction project
BA buyer needs temporary financing to purchase a new home before their existing home sells✓ Correct
CA lender bridges the gap between the appraised value and sale price
DA developer needs short-term construction financing
Explanation
A bridge loan is short-term financing that allows a buyer to purchase a new home before their existing home is sold. It 'bridges' the gap between the two transactions. Bridge loans typically carry higher interest rates due to their short-term, higher-risk nature.
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