Back to Glossary
Purchase Money Mortgage
January 19, 2023
A purchase-money mortgage is a loan made by the seller of a home to the buyer as part of the property transaction. A purchase-money mortgage, also known as owner or seller financing, is when the seller acts as the bank, supplying the money to buy the house.
Related Topics
What Is a Property Tax Lien
What Is an Adjustable Rate Mortgage (ARM)?
Navigating the Process of Mortgage Modification
What Is Non-Recourse Lending?
What Is a Short Sale?
When Is the First Mortgage Payment Due?
What Does Foreclosure Mean?
What Is a HELOC Loan?