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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.

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โˆ™ 2017-08-08 03:37:44
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Q: What is a purchase loan?
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Related questions

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?

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Auto Loan?

form_title=Auto Loan form_header=Need an auto loan? Discover the best deal on car loan financing. Application type?*= () Joint () Individual Loan Type?*= () New Purchase () Used Purchase () Refinance Loan Requested Loan Amount?*= _[50] How would you rate your own credit?*= () Poor () Fair () Good () Excellent


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 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.


Journal Entry for purchase of vechile on loan loan from finance co?

Bank account DR To Loan account


What is a loan for the purchase of a home called?

mortgage


What is a mortgage loan used for?

A mortgage loan is used to purchase real estate, usually a home.


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.


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".


Do you have to pay a Tennessee title loan back if you never had a clear title?

Absolutely. You still borrowed the funds to purchase the property and you signed a note promising to pay the loan.Absolutely. You still borrowed the funds to purchase the property and you signed a note promising to pay the loan.Absolutely. You still borrowed the funds to purchase the property and you signed a note promising to pay the loan.Absolutely. You still borrowed the funds to purchase the property and you signed a note promising to pay the loan.


What is the journal entry for a building purchase loan?

[Debit] bank account [Credit] Building loan


Where did the US get the money for the Louisiana Purchase?

we got a loan from britian


What kind of loan do you need to purchase a piece of a small business?

You may either apply for a small business loan or a personal loan. Google small business loans


When do home foreclosures happen?

Home forclosures happen when a person who has taken out a loan for the purchase of a house has defaulted on this loan. The house has become the collateral for the business providing the loan.


Which banks will purchase loan debt for consolidation?

Many banks will purchase a loan debt for consolidation so long as it complies with their terms. They usually impose a standard rate of interest and payment terms.


Car Loans?

form_title=Car Loans form_header=Get a car loan with low rates and flexible repayment terms for new and used vehicles. Request a car loan today! Desired Loan Amount?*= _[50] Application type?*= () Joint () Individual Loan Type?*= () New Purchase () Used Purchase () Refinance Loan How would you rate your own credit?*= [] Poor [] Fair [] Good [] Excellent


What are the examples of short term financing?

Loan, leasing, hire purchase


What is the first time veterans loan purchase funding fee?

january31,2009


What is mortgage used to purchase?

A mortgage is a loan that is secured by real property.


What is an auto finance?

Auto finance is a loan used to purchase an automobile


What is a loan made to purchase real estate or land called?

A mortgage


What about credit card?

line of credit that you can borrow, to purchase items. it is a loan

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