When seeking a Bridge Loan, the borrower
A) owns one piece of property and wishes to purchase another.
B) borrows only the down payment on a second piece of property.
C) borrows the down payment and closing costs on a second piece of property.
D) A and B above.
E) A and C above.

Question

Quizplus · Accepted Answer

A bridge loan is designed for borrowers who own one piece of property and wish to purchase another, often allowing them to borrow the down payment and closing costs on the second property. This makes options A and C correct, as they both are components of what a bridge loan typically entails.

When Seeking a Bridge Loan, the Borrower