A purchase money mortgage is when the seller provides financing to the buyer for the purchase of the property.

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A purchase money mortgage is a loan provided by the seller of the property to the buyer for the purpose of purchasing the property. The buyer makes mortgage payments to the seller rather than a traditional lender. A purchase money mortgage is a loan in which the seller of the property provides financing to the buyer, rather than the buyer obtaining a traditional mortgage from a bank or other lender.

A Purchase Money Mortgage Is When the Seller Provides Financing