Group: Terrier. Origin: United States of America. Pit Bull, Pit, Apbt. Sometime during the nineteenth century, dog fanciers in England, Ireland and Scotland began to experiment with crosses between Bulldogs and Terriers, looking for a dog that combined the gameness of the terrier with the strength and athleticism of the Bulldog.
A bridge loan is interim financing for an individual or business until permanent financing or the next stage of financing is obtained. Money from the new financing is generally used to take out (i.e. to pay back) the bridge loan, as well as other capitalization needs.
They usually run for six month terms and are secured by the borrower's old home. A lender also seldom extends a bridge loan unless the borrower agrees to finance the new home's mortgage with the same institution. As for rates, they accrue interest at anywhere from the prime rate to prime plus 2 percent.