Purchase-Money Mortgage

Purchase-Money Mortgage,

Purchase-Money Mortgage: What is the Meaning of Purchase-Money Mortgage?

  1. Purchase Price Mortgage is a mortgage that is given by the home seller to the borrower as part of the purchase transaction. Also known as seller or homeowner financing, it is usually done in situations where the buyer may not be eligible for a mortgage through a traditional line of credit. Purchase price The mortgage can be used in situations where the buyer considers the seller's mortgage and the difference between the remaining amount of the mortgage and the sale price of the property is the seller's mortgage.

  2. Meaning of Purchase-Money Mortgage: Mortgage to buy a property

Literal Meanings of Purchase-Money Mortgage

Purchase:

Meanings of Purchase:
  1. (Rope or rope ope) Lift or climb (anchor) with pulley, lever etc.

  2. Position yourself or position yourself to use some of the power, or the benefits of using it

Sentences of Purchase
  1. Mr Gill saw the manuscript at a local auction and bought it for 1,500.

  2. The hooves of the horses fought to catch the slippery floor

Synonyms of Purchase

secure, pay for, hold, foothold, buy, snap up, anchorage, footing, procure, pick up, take, grip, come by, acquire, attachment, fingerhold, shop for, toehold, support, firm contact, grasp, invest in, put money into, obtain

Money:

Meanings of Money:
  1. A common medium of exchange in the form of coins and notes.

Synonyms of Money

hard cash, ready money, cash

Mortgage:

Meanings of Mortgage:
  1. Transfer (assets) to creditors as collateral.

  2. A legal arrangement under which a bank or other lender lends at interest for the ownership of the lender's assets, provided the transfer of ownership is not effective at the time the loan is repaid.

Sentences of Mortgage
  1. The farm is in mortgage

  2. I deposited one lakh in cash and mortgaged the rest

Synonyms of Mortgage

advance, credit, mortgage, pawn, put up as collateral, guarantee

Purchase Money Mortgage,

Definition of Purchase Money Mortgage:

  1. Mortgages to buy property.

Literal Meanings of Purchase Money Mortgage

Purchase:

Sentences of Purchase
  1. Horses fight for grip on slippery floors.

Synonyms of Purchase

friction, leverage, get one's mitts on, get hold of, resistance, advantage, get one's hands on, score

Money:

Synonyms of Money

mazuma, wonga, loot, roll, silver, the wherewithal, moolah, the means, notes, shekels, brass, coin, rocks, bills, readies, splosh, bucks, the necessary, scratch, jack, currency, lolly, the ready, shinplasters, kale, coins, greenbacks, bread

Mortgage:

Meanings of Mortgage:
  1. A legal agreement in which a bank, mortgagor, etc., pays interest on the property of the debtor in exchange for ownership of the property, provided the transfer of the property is terminated after the repayment of the loan.

  2. Assignment (property) to lenders as collateral for loans.