purchase money mortgage


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purchase money mortgage

A mortgage that secures a loan the proceeds of which are used to finance the purchase of property. Colloquially, the term generally is employed only to denote a mortgage taken by the seller of property to secure later payment to him of the unpaid portion of the purchase price.
References in periodicals archive ?
We estimate that other builders and Realtors added 50 percent to 100 percent to those numbers, yielding--conservatively, we think--a 10 percent share of purchase money mortgages.
It's critical to document a purchase money mortgage transaction carefully to ensure that your rights are protected and to facilitate a potential sale of the loan on the secondary market.
If you do not have a well thought out, multi-faceted plan designed for protracted implementation that capitalizes on your strategic advantages, your credit union or CUSO will not be successful in closing your fair share of member purchase money mortgage business.
75 million purchase money mortgage to the buyer at an effective interest rate of 9.
A purchase money mortgage in the amount of $566,250 on a multifamily apartment building located in The Bronx, NY.
6 million, including a purchase money mortgage in the amount of approximately $4.
A purchase money mortgage in the amount of $945,000 on a multi-family apartment building located in Malden, Mass.
AMLI received approximately $2,850,000 in cash at closing (before prorations), and took back a short-term purchase money mortgage of $28,530,000 due March 1, 2004.
A purchase money mortgage in the amount of $263,900 on a multifamily apartment building located in Fall River, Mass
A purchase money mortgage in the amount of $650,000 on a mixed-use building located in Geneva, N.
A purchase money mortgage in the amount of $656,250 on a 10,843 square foot office building located in Amherst, Massachusetts.