0
A home-financing technique in which buyer borrows from the seller instead of, or in addition to, a bank. Sometimes done when a buyer cannot qualify for a bank loan for the full amount. also called seller financing or owner financing.
A purchase loan is a loan that is used to purchase something. With this in mind some common types of purchase loans include car loans as well as home loans.
Wiki User
∙ 6y ago
Add your answer:
Earn +20 pts
What is a non purchase money loan?
A purchase money loan is a loan usually used to buy a home. A non purchase money loan is a loan for other reasons where the lender does not know what is being bought.
Can you purchase a short sale with an fha loan?
Yes, you can purchase a Short Sale with an FHA loan. There are no restrictions on the type of financing in the purchase of a short sale.
Can you get a loan for a liquor license?
You can get a loan for your business then if the allowed in the terms of the loan use some of the loan to purchase your liquor license.
What is a mortgage loan used for?
A mortgage loan is used to purchase real estate, usually a home.
Where could one get a mortgage loan for a home purchase?
One could get a mortgage loan for a home purchase at physical banks such as Wells Fargo, Chase, and U.S. Bank. One could also get this type of loan at an online site such as "Greenlightloans".
What is a non purchase money loan?
A purchase money loan is a loan usually used to buy a home. A non purchase money loan is a loan for other reasons where the lender does not know what is being bought.
Can you purchase a short sale with an fha loan?
Yes, you can purchase a Short Sale with an FHA loan. There are no restrictions on the type of financing in the purchase of a short sale.
Can you get a loan for a liquor license?
You can get a loan for your business then if the allowed in the terms of the loan use some of the loan to purchase your liquor license.
Sample of income and expenditure?
loan purchase old bus how will enter the accountbook loan purchase old bus how will enter the accountbook
Journal Entry for purchase of vechile on loan loan from finance co?
Bank account DR To Loan account
Where can we get a car loan rates quotes for free?
I recommend roadloans.com. The site allows you to get new and used purchase loans, Refinance loans, a loan for a purchase for an individual, and a cash-back refinance loan.
What is a loan for the purchase of a home called?
mortgage
What happens if you default on a loan used to purchase a lot?
If you default on a loan used to purchase a piece of property you usually lose the property through foreclosure.
What is the journal entry for a building purchase loan?
[Debit] bank account [Credit] Building loan
What means repossesion as regard to hire purchase?
If a company fails to make it's repayment under the hire purchase agreement then the loan providers can tale the goods bought under the hire purchase as settlement for the loan.
What is a mortgage loan used for?
A mortgage loan is used to purchase real estate, usually a home.
Where could one get a mortgage loan for a home purchase?
One could get a mortgage loan for a home purchase at physical banks such as Wells Fargo, Chase, and U.S. Bank. One could also get this type of loan at an online site such as "Greenlightloans".
