Bridge Loans: Definition, Requirements & Example

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What kind of collateral is used to secure a bridge loan?

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1. A bridge loan is typically used to fund _____.

2. What type of fee do lenders charge to process a bridge loan application?

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About This Quiz & Worksheet

How is a bridge loan secured? What is a bridge loan used for? These are just some of the facts about this type of loan that you will need to know to do well on this quiz and worksheet assessment.

Quiz & Worksheet Goals

Be prepared to do the following when you use this quiz/worksheet assessment tool:

  • Identify the collateral used to secure a bridge loan
  • Describe what a bridge loan is used to fund
  • Name the type of fee that is charged for processing a bridge loan application
  • Differentiate between true and false statements about bridge loans
  • Understand a description of a bridge loan

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the lesson, such as how a bridge loan is described
  • Information recall - access the knowledge you've gained regarding what a bridge loan is used for
  • Knowledge application - use your knowledge to answer questions about fees and collateral associated with bridge loans

Additional Learning

If you want to learn more, lend us an ear and view the lesson titled Bridge Loans: Definition, Requirements & Example. This lesson will explain:

  • How long bridge loans are usually made for
  • What a borrower first needs to do when seeking to obtain a bridge loan
  • What underwriting standards for bridge loans are based on
  • In what situation a bridge loan will not be approved
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