A home-financing technique in which buyer borrows from the seller instead of, or in addition to, a bank. Sometimes done when a buyer cannot qualify for a bank loan for the full amount. also called seller financing or owner financing.
Related information about purchase-money mortgage:
- Purchase-Money Mortgage Definition | Investopedia
A mortgage issued to the borrower by the seller of the home as part of the purchase transaction. This is usually done in situations where the buyer cannot qualify ...
- Purchase Money Mortgage - Legal Dictionary - The Free Dictionary
A security device entered into when the seller of property, as opposed to a bank or financial institution, advances a sum of money or credit to the purchaser in ...
- Purchase Money Mortgage
Part of the fallout of the subprime debacle of has been the sluggish real estate market. Even after three years or so, the housing market has yet to even begin a ...
- Purchase Money Mortgage | The Truth About Mortgage.com
A “purchase money mortgage” is a mortgage used to purchase a piece of property, whether it be a principal residence, a second home, or an investment ...
- Purchase Money Mortgage Law & Legal Definition
A purchase-money mortgage is a note secured by a mortgage or deed of trust given by a buyer, as borrower, to a seller, as lender, as part of the purchase price ...
- Purchase Money Mortgage | LII / Legal Information Institute
Sometimes, a person buying real property gives the seller a mortgage on the property as part of the deal to buy the property. This is called a purchase money ...
- What is purchase-money mortgage? definition and meaning
Definition of purchase-money mortgage: A home-financing technique in which buyer borrows from the seller instead of, or in addition to, a bank. Sometimes ...
- Seller or Owner Financing - Purchase Money Mortgage ... - Century 21
Seller or owner financing is a technique in which the seller of a home takes on the role of a lender in a home sale. Find out more.