Which type of loan often has purchase contracts contingent upon the sale of the buyer's property?

A bridge loan is specifically designed to provide temporary financing to borrowers, often allowing them to purchase a new property before their existing property is sold. This type of loan is particularly useful in real estate transactions where buyers may want to secure a new home but need to wait for their current home to sell in order to access the necessary funds for the purchase.

When a purchase contract is contingent upon the sale of the buyer's property, it typically means that the buyer is relying on the proceeds from the sale of their current home to facilitate the purchase of another property. A bridge loan can effectively fill this gap, offering the buyer immediate funds to close on the new property while they await the sale of their existing one.

The other types of loans listed do not carry the same characteristics. A standard loan, for instance, usually does not have such contingencies and is based on the borrower's financial qualifications and existing property values rather than the sale of an existing property. Similarly, secured loans and hard money loans are more focused on the collateral aspect rather than specifically structuring the financing around the sale of an existing home. Thus, the bridge loan is the most fitting answer for situations in which the purchase of a new property relies on the sale of an existing one.