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-   -   What is a Purchase Mortgage (https://www.askmehelpdesk.com/showthread.php?t=191441)

  • Mar 5, 2008, 02:26 PM
    briasmom
    What is a Purchase Mortgage
    Please explain purchase mortgages
  • Mar 5, 2008, 03:22 PM
    LisaB4657
    A purchase money mortgage is when a buyer gets a mortgage to pay for all or part of the price of a piece of property. If the buyer refinances the property by getting a new mortgage and paying off the old mortgage then it is no longer considered a purchase money mortgage.

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