Purchase Money Mortgage

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Purchase Money Mortgage

Updated

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.

Purchase Agreement

Promissory Note

Principal Payment

Principal Balance

Primary Residence

Prepayment Penalty

Prepaid Expenses

Pre-Arranged Refinancing Agreement

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